Scoop: Thuringia Seeing a Slump in New Apartments and Homes
Fewer apartment units in Saxony now accessible for occupancy have decreased by five - Significant shortage of dwelling units available for occupation in Thuringia, representing around 20% fewer properties ready for residents.
Hey folks! 🏘️ Here's a quick rundown on the housing market in Thuringia, Germany. 🇩🇪 📈
Things have taken a downward turn in Thuringia's housing market, with a noticeable decrease in the number of apartments and houses ready for occupancy last year. 😕 Erfurt's Statistical Office reported that only 3,310 apartments were completed in the state in 2024, a drop of 813 from the previous year—a whopping 19.7% decrease! 📉
New construction accounted for the majority of the apartments built, while renovation and expansion of existing buildings contributed 683 new apartments. 🏗️
In light of the slump in Thuringia's housing market, it's crucial for the employment policy to address the need for increased construction workforce to speed up new apartment and home development. The community policy may also need to consider finance and investing opportunities to boost housing-market recovery and stimulate real-estate growth.
