Germany: new housing is growing by 20%

In Germany, building permits in new housing are up by more than 20% over one year. In figures, this gives more than 380,000 residential permits issued in 2016.

The number of building permits has reached the highest since 2000, according to Barbara Hendricks, German Minister of Housing. The year 2016 will have a total of 380,000 building permits compared to 313,000 in 2015. This progression, which exceeds 20%, is expected to continue in 2017.

The good health of new housing is due to strong demand for housing in urban areas, a thriving job market and low interest rates that grow to become homeowners, lists AFP. With the influx of refugees, Germany also sees its construction of social housing climbing.

According to professional associations and Deutsche Bauindustrie and Deutsche Baugewerbe, a growth of 5% is expected in the construction in 2017. The new housing will play its role thanks to a 7% increase, explains AFP.