17 May 2023
Building permits issued for dwellings in March 2023: -29.6% on the same month a year earlier
In March 2023, the construction of 24,500 dwellings was permitted in Germany. The Federal Statistical Office (Destatis) reports that this was a decrease of 10,300 building permits, or 29.6%, compared with March 2022. Since May 2022, the number of permits issued for new dwellings has therefore been lower than in the same month a year earlier, with the year-on-year decline exceeding 10% since October 2022 and even surpassing 20% since January 2023. A higher year-on-year decline than that in March 2023 was last recorded in March 2007 (-46.5% on March 2006). From January to March 2023, a total of 68,700 building permits for dwellings were issued, which was a drop of 25.7% compared with the same period a year earlier (January to March 2022: 92,500 building permits). It is likely that the high costs of building material and worsening financing conditions are still the main contributors to the decline in building projects. The results include building permits for both dwellings in new buildings and new dwellings in existing buildings.
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