seven construction workers standing on white field

Wiesbaden, Germany — The number of building permits issued for residential units in Germany has experienced a notable decrease in 2023:  26.6% fewer housing permits issued in Germany in 2023 compared to the previous year, reaching the lowest level since 2012.

Significant declines in permits for both private individuals and companies, especially for single and two-family houses. Decreases also seen in non-residential buildings.

Factors contributing to the decline include increased material costs and worsened financing conditions.

German Housing Permits -16.9% in November

By Silvia Orfeo

Silvia Orfeo is a Sr. Politics and Economics Reporter at Nobot.News

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