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Slump in new residential construction accelerating

01.09.2017 − 

The number of building permits issued in Germany continues on a downward path, although the downturn seen in the first quarter had picked up the pace by mid-year. The number of permits to build residential and non-residential buildings dropped more than in the first three months of this year (-6.6%) with a 7.9% dive to 90,303 dwellings in the second quarter.

The German Federal Statistical Office said that a total of 169,454 permits to construct residential and non-residential buildings had been issued in the first half of the year, about 7.3% fewer than in the same stretch last year.

New projects to construct residential and non-residential buildings accounted for 79,127 permits in the second quarter, 6.5% fewer than the same period last year. The number of permits issued for the construction of residential buildings also tumbled 6.5% to 77,829 units.

Permits for new buildings totalled 149,359 units in the first six months of the year, representing a 5% fall compared with the prior-year period. An even bigger fall was registered in the living space of approved flats, which fell 5% to 14.9m m². Their usable space was also 5% smaller at 17.7m m².

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