Overview
- Germany approved 19,500 dwellings in January, up 8.4% year on year, including 16,400 new-build units and 3,100 created through conversions, according to Destatis.
- New-build permits increased across categories, with single-family homes up 12.6% to 3,800, two-family homes up 26.1% to 1,200, and multi-family units up 7.1% to 10,500.
- Approvals for dwellings in residential homes fell sharply by 47.6% to 500 units.
- IMK director Sebastian Dullien warned that the Iran war and higher fuel prices could lift inflation, limit ECB rate cuts or even prompt hikes, and weaken real incomes, weighing on construction demand and financing.
- Destatis noted the figures are based on state reports that can be revised as late notifications are incorporated.