Construction sales boom for Germany

By Dale Benton
Construction on up to 300,000 new homes looks set to increase the German construction sector by 3.4 per cent this year, the highest in 20 years, accordi...

Construction on up to 300,000 new homes looks set to increase the German construction sector by 3.4 per cent this year, the highest in 20 years, according to the HDB construction industry association.

The increase looks to be the result of a boom in residential building and higher state spending on roads, with construction investment being one of the major contributors to German growth in 2016.

"Construction will contribute to a stabilisation of the overall economic upswing which is under pressure from a struggling world economy and slackening exports," HDB president Thomas Bauer said.

Sales look set to increase to 104.7billion euros this year, the highest sales figures sin 1997.  The association is also reporting record-low borrowing costs as a key factor in encouraging Germans to buy their own flats and homes, with property becoming an attractive and sustainable investment.

The German government has introduced tax incentives for private investors who build properties in urban areas as well as an increase in spending on social housing, which will add to the increase in construction sales for 2016.

Follow: @constructionglobal

 

Share
Share

Featured Articles

Saudi Arabia to build three new stadiums for Asian Cup 2027

Tournament will be hosted across three cities and 10 stadiums, SAFF says

Neoen’s Storen Power Reserve begins construction in Sweden

Notice to Proceed given to Nidec at the end of December 2022, French renewable energy producer says

Masdar works with African countries on renewable projects

Agreements with Angola, Uganda and Zambia will see development of renewable energy projects with a combined capacity of up to 5GW

Select Group awards US$816.7m in construction contracts

Construction Projects

Saipem awarded $1.2bn contracts for Guyana and Egypt project

Construction Projects

Saudi Arabia dominates MENA construction sector in 2022

Facilities Management