A Total of 277,000 Apartments Will Be Completed in Germany in 2016

According to a forecast published by the ifo Institute a total of 277,000 apartments will be completed in Germany in 2016, including 245,850 apartments in new residential buildings, of which in turn 140,150 residential units will be accounted for by detached and semi-detached houses and 105,700 units by multiple-dwelling units. 4,100 apartments are forecast to be built in new non-residential buildings and 27,050 apartments in existing buildings. According to estimates made by the ifo Institute, the annual growth rate in the period from 2012 to 2016 will reach 7%. Provisional figures issued by the ifo Institute show that a total of 214,550 apartments were completed in 2012. Of the 189,500 completions in new residential buildings, 107,600 were accounted for by detached and semi-detached houses and 81,900 by multiple-dwelling units. Apartment completions numbered 3,450 in newly erected non-residential buildings and 21,600 in existing buildings.