The demand for state subsidies for building savings contracts has reached a record level. In 2023, around 203 million euros were drawn down as part of the so-called housing construction bonus, as shown by figures from the Federal Ministry of Construction (december 20th), which were first reported by the Funke media group (Sunday). In the previous year there were around 160 million by the end of the year, and in the years before that the total was well below that of 2023.
Up to a certain income limit, married couples can claim a maximum of 140 euros annually from the housing subsidy, and single people can claim a maximum of 70 euros. The money usually flows into building savings contracts.
Numbers have increased significantly
“The housing construction bonus is being used a lot, and the numbers even increased significantly last year,” said Construction Minister Klara Geywitz (SPD) to the Funke newspapers. “This shows that many still have the desire to own their own house or condominium.”
The Ministry of Construction assumes that building savings contracts have become more attractive for many people against the background of increased interest rates because they can be used to lock in low interest rates for real estate financing.
High interest rates and high construction costs
There is currently a lull in residential construction due to high interest rates and high construction costs. We are a long way from the federal government’s original goal of building 400,000 new apartments every year. For 2024, Geywitz expects 265,000 apartments to be completed in Germany.
