property
Construction prices for residential buildings are rising by a good three percent
Building in Germany is expensive – and prices continue to rise. Small consolation: the increase is no longer accelerating. Heating systems are becoming more expensive than average.
Building apartments in Germany is becoming increasingly expensive. The prices for new construction of conventional residential buildings rose by 3.1 percent in November 2024 compared to the same period last year, as reported by the Federal Statistical Office. In August, the previous reporting month, the increase was also 3.1 percent. From November to August 2024, construction prices climbed by 0.4 percent.
Construction prices have risen enormously in recent years. After the start of the Russian war of aggression on Ukraine, energy and materials prices rose rapidly. Recently, the rise in prices ebbed.
Prices for heating systems are rising significantly
According to statisticians, shell construction work on residential buildings cost 2.0 percent more in November than a year earlier. Roofing work, for example, cost 3.6 percent more, while the prices for earthworks cost 4.5 percent. Expansion work increased in price by 3.8 percent. The prices for heating systems and central water heating systems, including heat pumps, rose above average by 4.9 percent.
According to the statisticians, maintenance work on residential buildings also became more expensive. Prices in November were 3.6 percent higher than in the same month last year.
New construction prices for office buildings rose by 3.4 percent within a year. Prices in road construction rose by 4.6 percent. All information refers to construction services including VAT.
dpa
Source: Stern
