The prices for the construction of new residential buildings are increasing again.
The new construction of conventionally manufactured residential buildings rose last November by 16.9 percent compared to the same month last year, as the Federal Statistical Office announced on Tuesday in its quarterly statistics.
In August 2022 there was still an increase of 16.5 percent, after the strongest increase in more than 50 years of 17.6 percent was determined in May 2022.
From August to November alone, construction prices increased by 2.5 percent.
Office buildings are also becoming more expensive
The enormous increase in costs threatens to lead many home builders and investors to refrain from planned projects - especially since not only do they have to pay more for materials, but interest rates have also risen noticeably recently.
The construction and real estate industry is therefore warning of a collapse in German housing construction.
"All signs indicate that there will be a dramatic slump in 2023," said an appeal published in December by the 17 leading associations and chambers of the construction, planning and real estate industries.
The goal of the traffic light coalition to build 400,000 apartments a year "threatening to become wishful thinking".
In the coming years one could be happy if there were 200,000.
Structural work on residential buildings cost 15.8 percent more last November than a year earlier.
Concrete work rose particularly sharply by 17.6 percent.
For masonry work, prices rose by 13.6 percent.
For roofing and roof sealing work, they increased by 20.3 percent, while carpentry and timber construction work only increased by 5.1 percent.
The prices for finishing work increased by 17.8 percent.
New office building prices also rose in November, up 17.8 percent year-on-year.
The increase in commercial buildings was 17.6 percent and in road construction 19.3 percent.
All information relates to construction work on the building including VAT.