The number of new homes built in Germany fell by 14.4% due to the sharp growth of interest rates and construction costs, the data on Friday published by the State Statistical Office of Destatis.
During the last year, 251,900 new homes were built in Germany – 42,500 less than the previous year, the Agency said. “This was the first significant decline after the number of finished homes was 294,000 in each of the years from 2021. until 2023,” Statisticians said.
According to the agency, the increase in interest rates and construction costs stated many investors to give up their plans, while investors gave up.
Although the number of newly built homes in 2024. year significantly above the 2009. of 159,000, it is also far from record high 306,400 recorded in 2020. years. Years.
Experts estimate that Germany lack hundreds of homes, given that the rent increased sharply in recent years, seebiz.
The previous coalition government of the Left Center of the Chancellor of Olaf Scholz has missed fulfill its goal of 400,000 new homes per year during its three years in power.
As the lack of living space in cities deteriorates the decline in construction, many experts expect rents and real estate prices to continue to grow.
The new government led by conservatives, which took office 6. May, also promised to build more homes, and the Minister of Construction Verena Hubertz promised “the incentive building of apartments”.
The Minister said that it plans to accelerate approval procedures, promote modern construction methods and enable the allocation of more land for construction.
Peter Hübner, President of the German Construction Industry (HDB), who recently stated that the numbers in the housing construction were disastrous, noticed that new jobs with housing construction loans increased by nearly quarter in 2024. years. Years.
“The positive trend continued in early 2025. And it could be the first frame sign to slowly reach the bottom in the new housing.”
