Permits for new buildings have dropped dramatically since last year Real estate experts expect a further decline in new residential construction in Germany as building permits for dwellings slumped 20.6% year-on-year in February, the Federal Statistical Office (Destatis) reported on Tuesday. According to the latest numbers, a total of 22,300 building permits for dwellings were issued in February, representing a decrease of 5,800 permits compared to the same period last year. The number of construction permits has been steadily declining since last May and has fallen by 10% each month from October 2022, Destatis sa
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