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Investing.com -- A significant decrease in the number of apartments built in Germany in 2024 has been reported, according to data from the federal statistics office released on Friday. This points to ongoing challenges in the country’s real estate sector.
The data revealed that a total of 251,900 apartments were completed in 2024, marking a 14.4% decrease from the previous year. This number is significantly lower than the government’s annual target of constructing 400,000 apartments.
The German property sector has been under strain since 2022 when it started experiencing difficulties. Higher interest rates during that period made borrowing more expensive, leading to a decrease in property prices. This financial strain pushed some property firms into insolvency.
The recent data showing a sharp drop in apartment construction further highlights the persistent issues in Germany’s real estate industry.
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