Building Permits for New Housing Units in Austria

WIFO's building permit forecast expects a significant decline in the number of approved residential units in 2020. The decline of 9,900 units is largely attributable to multi-storey construction (–9,500 units or –21.2 percent), which will largely correct the gains in 2019. Approvals for single-family and two-family houses are also likely to decline in 2020 at –2.0 percent and –400 units, respectively. In 2021 both areas will stagnate at roughly the same level as in the previous year. Building permits for detached and semi-detached houses will rise by 100 units (+0.4 percent) and those for multi-storey buildings by 400 units (+1.1 percent). According to the forecast, the number of building permits will remain above 50,000 units.