Construction Minister Geywitz does not expect the targeted 400,000 new flats to be created this year. This would also be due to the consequences of the Ukrainian war.
Federal Minister of Construction Klara Geywitz (SPD) believes that the new government target of 400,000 flats per year will only realistically be achieved by 2024.
Housing construction target not reached until 2024 or 2025
In an interview with the “Web.de News” portal, the politician referred to the worsening framework conditions caused by Russia’s war of aggression against Ukraine, which led to rising interest rates and supply bottlenecks.
Geywitz added that final completion statistics for 2022 will not be available until May. However, he does not expect that the intended goal has been achieved. According to their assessment, this will not be possible in the current year either.
However, the minister plans to stick with it for the future. The target should be “to reach this number through prefabrication and digitization in 2024 and 2025”.
Tight housing market in big cities
The federal government wants to see 400,000 new homes built each year in Germany, especially given the increasingly tight housing market in big cities. However, there are strong doubts that this goal can be achieved in the foreseeable future.
The German Federal Association of Housing and Real Estate Companies (GdW) published an assessment a few days ago stating that the construction of only 200,000 flats per year is realistic, at least in the medium term.
Source: ZDF
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