Germany clears bill to expedite housing construction by cutting red tape
File Photo BERLIN: The German government approved on Wednesday a draft law that aims to speed up the construction of housing units, which has tapered amid a wider property market crisis, by cutting red tape that often ensnares projects for years. The number of apartments built in Germany dropped sharply last year, falling 14.4% from 2023 to 251,900 – far below the previous government’s goal of 400,000 apartments a year – as Germany’s property sector recovers tentatively from its most severe slump in decades, which began in 2022. Residential building permits, an important indicator of construction activity over quarters to…