Construction costs for apartments and offices increased by 4.1%
According to the Federal Statistical Office (Destatis) prices for the construction of conventionally manufactured residential buildings in Germany in May were 4.1% higher than a year before. This is the highest increase since November 2007 (+ 5.8%). For office buildings and for commercial buildings a price increase of 4.1% was determined. In particular, concrete construction (+5.4%) was the price driver in housing construction, while masonry (3.7%) was less expensive. Carpentry and wood construction were 4.3% more expensive than a year ago.
The interior finishing prices increased by 3.6% and maintenance, repairs and upkeep by 3.8%.
DESTATIS Report.
Especially the maintenance and repairs bracket is relevant for property owners as in most cases they will affect the bottom line of their investment directly.
According to the Federal Statistical Office (Destatis) prices for the construction of conventionally manufactured residential buildings in Germany in May were 4.1% higher than a year before. This is the highest increase since November 2007 (+ 5.8%). For office buildings and for commercial buildings a price increase of 4.1% was determined. In particular, concrete construction (+5.4%) was the price driver in housing construction, while masonry (3.7%) was less expensive. Carpentry and wood construction were 4.3% more expensive than a year ago.
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| Photo by Fancycrave on Unsplash |
The interior finishing prices increased by 3.6% and maintenance, repairs and upkeep by 3.8%.
DESTATIS Report.
Especially the maintenance and repairs bracket is relevant for property owners as in most cases they will affect the bottom line of their investment directly.
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