Building Permits in Housing. Forecast 2014-2015

After the strong year 2013, which was able to avoid the overall downward drag with over 46,000 construction permits, 2014 is expected to see a moderate correction. According to the WIFO forecast, construction permits will decrease to 45,100 (–900 or –2 percent). The decline equally affects flats (from 29,600 to 29,000, –600 or –2 percent) and one and two family houses (from 16,500 to 16,200, –300 or –2 percent). 2015 will experience a further drop to 44,400 construction permits in total (–700 or –1,6 percent), which is primarly due to less permits for flats.