Building Permits for New Housing Units in Austria

After the massive decline in 2022, building permits will continue to fall in the coming years. Particularly in 2023, another sharp decline is expected, which will bring the total number of building permits down to 41,700 units (–5,200 units or –11.1 percent). Of these, –1,700 units or –9.9 percent are accounted for by single- and two-family housing, and –3,500 units or –11.7 percent by multi-storey construction. For 2024, the forecast models expect a stabilisation roughly at the level of 2023 (41,300 units). In the area of single- and two-family housing, part of the decline of 2023 is corrected (+500 units or +3.2 percent), whereas multi-storey construction continues to shrink (–900 units or –3.5 percent).