The German authorities have decided to introduce a moratorium on a number of innovations in the construction industry

The introduction of stricter rules on insulation in buildings has been postponed indefinitely due to the desire of German authorities to support the construction sector. Representatives of the industry demanded the abolition of these standards first of all, since they lead to a significant increase in the cost of work.

A sharp rise in interest rates brought an end to the multi-year boom in the German real estate market. A number of transactions have already been frozen, several developers have declared bankruptcy, mortgage loans are being taken out less, and prices for residential real estate showed the most serious drop in the history of calculations in the second quarter of this year. The issuance of permits for the construction of apartments in Germany fell by 31.5% in July compared to last year’s values. This indicates a drop in demand that is plaguing the construction and real estate industries.

Source link