The Managing Director of the German Construction Industry Association (zdb), Felix Pakleppa, does not expect the 400,000 apartments targeted by the German government to be built this year. "With around 293,400 new apartments completed last year, we fell well short of expectations and the forecast. Unfortunately, we have to assume that there will not be any more this year either," says Felix Pakleppa in view of the completion figures recently published by the Federal Statistical Office (Destatis).
According to the study, 293,393 apartments were completed in Germany in 2021. This was 12,983 fewer than in the previous year, which corresponds to a drop of 4.2%. The number of new apartments in single-family homes fell by over 10.4 percent and in apartment buildings by 3.6 percent. According to Felix Pakleppa, this is likely to be the result of the coronavirus pandemic, partly due to significantly disrupted supply chains and associated delivery problems, but also reluctance on the part of private developers in view of uncertain future prospects and funding conditions.
"In order to achieve greater stability in the housing market, we need solid and sustainable framework conditions and not a funding chaos. And above all, we need adequate funding for the new energy standards intended by the German government. We also need to talk about our own raw materials policy and free trade zones, which will make us less susceptible to such crises," demands Felix Pakleppa. Otherwise, residential construction would continue to decline and fall well below the 300,000 mark this year.
Source: zdb.de/destatis.de
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