Residential completions increasing more slowly

29/05/2019

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.


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