Building Permits for New Housing Units in Austria. Forecasts for 2014-2016

The WIFO forecast predicts construction permits to grow by 4 percent and reach 47,800 units in 2014 (+1,800 units). While permits for flats in multi-storey buildings grow only modestly with +2 percent (+600 units), permits for one and two family houses expand unexpectedly strong by 7 percent (+1,100 units). The forecast for the coming years is also positive: the model predicts a growth in construction permits of 3 percent in both 2015 and 2016. For a first time permits might cross the 50,000 units per year threshold. Multi-storey buildings and one and two family houses are predicted to benefit from this development alike.