Whomp, Whomp! Less Places to Chill in Thuringia!
Decrease in Available Apartments for Occupancy in Thuringia by 5 Percent - Approximately a fifth fewer dwellings in Thuringia are available for immediate occupation.
Damn it! It looks like you'll have a tougher time finding a place to stay in good ol' Thuringia. There's been a drastic drop in the number of apartments available for occupancy in 2024 - a full 813 fewer apartments than the previous year, as reported by the Statistical Office in Erfurt!
That's a 19.7% decrease, making it harder for folks to find a cozy nest in the region. The majority of the apartments were wee, brand-new constructions, with only 683 apartments created through renovations and extensions of existing buildings.
The trend towards home-ownership in Thuringia also fell by 26.2% last year - talk about a downslide! Approximately 1,000 new single-family homes were built, which is 355 fewer than the year prior.
Of the newly built apartments, a stomach-turning 54.6% were constructed with private builders calling the shots. Businesses built 25%, while public builders - like municipalities and the government - were only responsible for a pathetic 0.8%. In 2023, public builders were responsible for a whopping 9% of the apartments completed, but who's keeping score anyway?
Thuringia, Erfurt, Construction Costs
Just a little insider nugget: information on the current construction costs for apartments and single-family homes in Thuringia is scarce. But here's a sneak peek at the construction market and economic environment in the region and Germany as a whole:
- Construction activity in Thuringia has been giving a bit of a boost since early 2025. For instance, construction output for the first two months of the year was higher compared to the last quarter of 2024, mainly thanks to finishing trades[4].
- However, the broader German construction sector is dealing with some uncertainties due to high interest rates and economic instability. These factors could put a damper on private construction demand, which may impact residential construction projects[1].
- The government is pushing for climate-friendly and resource-efficient construction, which might affect project costs. For example, there's a demand for bio-based building materials and climate-neutral construction practices[3].
- Unfortunately, there's no exact numeric data on costs per square meter or total costs for building apartments or single-family homes. Construction costs in Germany vary greatly depending on factors like region, building type, specifications, and current material and labor costs. With high interest rates and inflation still rearing their ugly heads, you can expect some upward pressure on construction costs[4].
In an attempt to navigate Thuringia's housing-market, it is crucial to understand the regional employment and finance policies. The surge in private construction, as seen in 2025 with 54.6% of new apartments built by private entities, might reflect employment policies that favor private sector growth.
Meanwhile, investing in real-estate in Thuringia could prove challenging due to fluctuating construction costs, uncertainties in the broader German construction sector brought about by high interest rates and economic instability, and the push for climate-friendly and resource-efficient construction practices, which could increase project costs.
