Building permits for apartments in Germany were up 4.9% in April on the previous year, the second consecutive month of gains in residential construction planning amid a tentative recovery in the wider economy.
Federal statistics office data showed on Wednesday that 18,500 building permits were granted for new apartments in April, up 900 from a year prior. The gain in March was 5.8%, or 1100 permits.
During the January-to-April period, permits were up 3.7% compared with a year earlier.
Germany’s property sector is tentatively recovering from its most severe slump in decades that began in 2022. Permits are an important indicator of near-term construction activity.
The German economy is expected to grow this year following two consecutive years of contraction, four economic institutes said on Thursday, raising their forecasts for 2025 and 2026.
(Reporting by Ludwig Burger)
