November Sees Record Low of 17,900 Approved Apartments

November Sees Record Low of 17,900 Approved Apartments

In November 2024, the German authorities approved the construction of 17,900 new homes. According to the Federal Statistical Office (Destatis), this was a decrease of 13.0 percent, or 2,700 approved construction permits, compared to November 2023.

In the period from January to November 2024, a total of 193,700 homes were approved, which is a decrease of 18.9 percent, or 45,200, compared to the previous year. The results include approvals for new homes in both new residential and non-residential buildings as well as in existing buildings.

In November 2024, a total of 14,200 new homes were approved in newly constructed residential buildings, which is a decrease of 16.8 percent, or 2,900, compared to the previous year. From January to November 2024, a total of 158,000 new homes were approved, which is a decrease of 21.8 percent, or 44,100, compared to the previous year. The number of approved construction permits for single-family homes decreased by 22.1 percent, or 9,900, to 34,800. For two-family homes, the number of approved homes decreased by 12.7 percent, or 1,700, to 11,700. Even for the numerically strongest building type, multi-family homes, the number of approved homes decreased significantly by 22.4 percent, or 29,300, to 101,200, according to the authorities.