Hard times

Last year 176 000 homes were completed in Germany. Newly built homes accounted for 152 200 of this total, which is 16.5 per cent down on 2007. Since 1995, when a peak of nearly 603 000 accommodation units was reached, the number of homes completed annually has gone down by more than 70 per cent, according to a statement from the Federal Bureau of Statistics. The drop in completed single-family houses came to 22.0 per cent compared to 2007 and 2008, while two-family houses were 23.6 per cent down.