Residential completions increasing more slowly
According to the Federal Statistical office (Destatis), 285,900 apartments were completed in Germany 2018. That means 0.4 % or 1,100 apartments more than the year prior. Not counting dormitories, the number of completions increased by 2.6 %. The trend has now been moving upwards since 2011, though recently the growth rate has declined somewhat (2017: +2.6 %). New construction increased by 2 % to 250,100 units in 2018. The largest rise was recorded for multi-family structures (+9.2 %), while completions of single family homes dipped by 3.7 %. The federal government’s target of 375,000 new apartments was again missed by a long shot, real estate associations like the ZIA and BFW criticize. The back-log of approved but not yet built apartments remains a problem, and in fact continued to increase in 2018 despite a minus of 0.3 % of building permits.
Subscribers to our premium service have access to this article in full as well as to an additional 510,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.
TD Premium is Germany’s leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.