Trend continues: in German housing boom keeps on – ABC Online

Trend continues: in German housing boom keeps on – ABC Online

Monday, 08.18.2014, 14:07

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In times of extremely low interest rates, the boom in the German housing continues: In the first half of 2014, the authorities approved the construction or remodeling of roughly 136 800 apartments. Thus, the continued since 2010 positive trend in approvals in housing in Germany continues.

In the first half of 2014, the authorities approved the construction or remodeling of roughly 136 800 apartments, as The Federal Statistical Office announced in Wiesbaden on Monday. That was 9.6 percent or almost 12,000 more than in the first six months of last year.

27.9 percent more building permits

This is the continuing positive trend since 2010 in permits continued in housing in Germany. Particularly strong growth in first half of 2011 was 27.9 percent more than the statisticians counted as building permits in the same period last year.

One reason may be the historically low interest rates. The European Central Bank (ECB) had lowered its key interest rate in the euro area is now 0.15 percent, the cheaper also tends loans. In addition, real estate apply just in popular inner city locations still an attractive yield object – even more so currently, where classical Save hardly brings interest earnings

118,700 new dwellings: 7.3 percent more than last year

In residential buildings well 118,700 new dwellings were approved in the first half of the year, 7.3 percent more than in the same period last year. Most notably homes were in multi-family houses (plus 12.8 percent). The number of building permits for single-family (minus 1.0 percent) and two-family houses (minus 0.4 percent) declined slightly in each case. . Risen sharply, the demand for condominiums, here the number of permits increased year on year by 14.3 percent to almost exactly 33 000

A significant percentage increase of 31.6 percent were for conversions: In 15,818 cases settled builders investments in the own four walls approve.

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