The Federal Statistics Office in Wiesbaden announced on Friday that the number of housing construction permits declined in… Germany During last August, it increased by 6.8 percent on an annual basis to 18,300 new homes.
However, the decline was less compared to previous months, reaching 19.2 percent on an annual basis last July.
Eight months later this year, the decline in house building permits on an annual basis amounted to 19.3 percent (equivalent to 34 thousand homes), recording a total of 141 thousand and 900 homes.
The number of permits to build single-family homes in particular decreased, reaching 25,300 permits, a decline of 9,200 permits (26.6 percent) on an annual basis.
The German government’s goal of building 400,000 new homes a year has become even more distant.
The number of house building permits has been declining for more than two years.
Experts attributed this to investors’ reluctance to pursue construction projects due to high construction costs and high interest rates.
