Steep rise in construction costs in Germany
New home construction costs in Germany rose 15.1 percent in February compared to the same period last year.
The German Federal Statistical Office (Destatis) announced February data on new home construction prices.
As a result, the country’s new home construction prices rose 15.1 percent in February compared with the same period last year.
THE GREATEST INCREASE WAS RECORDED IN MAY
In November 2022, when the above statistics were released, new home construction prices, which rose 16.9 percent annually, posted the largest increase in more than 50 years with an increase of 17.6 percent. in May 2022.
Analysts said the “massive” rise in construction costs for new homes, following a notable rise in interest rates, has led homeowners and investors to shy away from planned projects. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
