German housing construction experienced a 14.6% rise in building permits in Q1, with 63,500 new apartments approved. Experts warn geopolitical tensions and rising fuel prices could dampen this recovery.
German housing construction rose 14.6% in Q1 2025 year-over-year, with 63,500 permits issued. Experts warn the Middle East conflict could dampen this recovery due to rising fuel prices and potential interest rate hikes.
Prime Minister Kim Min-seok visited the Wangsuk district construction site in Namyangju on Wednesday to inspect progress on the Third New City Project, a massive development aimed at building approximately 314,000 new homes in six areas on Seoul's outskirts. The project, underway since 2018 with ground broken in 2023, is part of President Lee Jae Myung's initiative to combat real estate speculation through increased housing supply.
