Construction permits for housing projects rises 4 percent in Q1

Germany's Federal Statistics Office reports that construction permits for the erection or renovation of over 78,000 apartments were issued during the first quarter of 2020. The figures were 4 percent more than in the first quarter of 2019, despite the fact that the coronavirus pandemic had arrived in Europe by March. Of the total, more than 68,000 apartments were in new homes, which was 2,500 more than for the same period last year. The number of permits for family homes barely budged, by contrast. By contrast, 11.3 percent more permits issued for 2-family homes structures than last year, while the number of apartment buildings rose by 4.4 percent.