Germany builds 14% fewer apartments in 2024, falling short of government goals
FRANKFURT, May 23 (Reuters) - The number of apartments built in Germany dropped sharply in 2024, federal statistics office data showed on Friday, a further sign of stress in the nation's troubled real estate industry.
The number of apartments completed was 251,900, down 14.4% from 2023 and far below government aims of building 400,000 apartments a year.
Germany's property sector hit hard times in 2022, as higher interest rates made borrowing costly. That resulted in falling prices, and it tipped some property firms into insolvency.
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