Construction prices in Germany are exploding. Building new apartments in particular is more expensive than it has been in years. The reason is not just the increased demand for building materials.
The construction of new apartments in Germany has become more expensive in May than it has been since 2007. The prices for new construction of conventionally manufactured residential buildings in May of the current year were 6.4 percent above the level of the same month last year, as calculated by the Federal Statistical Office.
This is the highest increase in construction prices within a year since May 2007 (plus 7.1 percent compared to May 2006), said the Wiesbaden authority.
In May 2007, the increase in VAT from 16 percent to 19 percent contributed to the sharp rise in prices. Currently, among other things, the great demand for building materials such as wood, steel and insulating materials is driving prices on the world markets. Carpentry and wood construction work in Germany, for example, rose above average in price, here prices in May 2021 were 28.5 percent above the level of the same month last year.
Sales in the construction industry in Germany have so far been below the previous year’s level for the year: According to the Federal Office, sales from January to April 2021 were 5.6 percent below the value of the same period of the previous year, although there was a year-on-year increase in sales of 3.6 in April Percent gave. The main construction trade includes the construction of buildings (structural engineering) as well as roads, railways and lines (civil engineering).
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
