Building permits at highest level since 2000
Low mortgage interest rates and the housing of refugees have accelerated the building boom in Germany in the first 5 months of this year.
From January to May the construction of 148,400 homes was approved, as reported by the German Federal Office of Statistics, 30.6% more than in the same period last year and the highest level in the first 5 months of a year since 2000, when the figure was 154,700 homes.
The steepest increase was in building permits for homes in hostels, with more homes in hostels (10,300) being approved from January to May 2016, a category which includes refugee accommodation, than in duplex units (9,400 homes).
There was also significant growth in multi-family dwellings (+ 26.5 %), duplex units (+21.6 %) and detached houses (+15.8 %).