WIESBADEN (dpa-AFX) – The number of building permits for apartments in Germany fell last year to its lowest level since 2018. The authorities approved 354,400 projects, as the Federal Statistical Office announced on Friday. That was 6.9 percent or 26,300 fewer apartments than in the previous year. According to the Wiesbaden authority, the value was last lower in 2018 with a total of 346,800 units at the time.
The Wiesbaden authority explained that the lack of materials, high costs for building materials, the shortage of skilled workers in construction and increasingly poor financing conditions are likely to have contributed to the decline in construction projects.
