FRANKFURT (Reuters) -Permits to build apartments in Germany rose 60% in September from a year earlier, statistics office data showed on Tuesday, as the nation’s property industry shows further signs of recovery.
The level in September a year earlier was particularly weak, the lowest since January 2012.
Germany’s property sector, which began to shrink in 2022, has undergone its most severe slump in decades. Permits, which have been increasing this year, are an important indicator of future construction activity.
The number of building permits rose to 24,400 apartments in September, up from 9,100 a year earlier.
Tim-Oliver Mueller, head of the German Construction Industry Federation, called for a “massive expansion” in financial support measures to stimulate housing construction.
(Reporting by Tom Sims and Reinhard Becker, Editing by Friederike Heine)
