Germany's Apartment Building Permits Decline by 17% in April

Building permits for apartments in Germany fell by 17% in April compared to the previous year, according to government data. This marks a significant downturn in the construction and real estate industry, with a nearly 44% drop over the past two years, indicative of future construction trends.

Building permits for apartments in Germany fell 17% in April from a year earlier, government data showed on Tuesday, underscoring a continued downturn in demand in the construction and real estate industry. Germany has been jolted by the most severe slump in the property sector in decades.

Some 17,600 permits were issued, which is 17% fewer than a year earlier, the data showed, making for a nearly 44% drop over the past two years. The number of building permits is an important indicator of future construction.