Building Permits for New Housing Units in Austria

WIFO's building permit forecast expects a significant decline in approved housing units in 2020. It is largely attributable to multi-storey construction, which will largely correct the gains in 2019. The number of single-family and two-family houses approved is also likely to decline in 2020. In 2021, both areas will stagnate. According to the forecast, the number of building permits will remain above 55,000 units. The predicted decline in building permits was already apparent before the outbreak of the COVID-19 crisis, and from the current perspective the measures to contain the pandemic ware mainly causing delays.