The rapidly rising prices for energy and building materials are putting the construction industry on high alert: In the second quarter alone, prices for residential, office, and commercial buildings increased by between 17.6 and 19.4 percent compared to the previous year, according to data from the Federal Statistical Office.
And according to a study by the consulting firm PricewaterhouseCoopers (PwC), first reported by the "Handelsblatt," there is no end in sight for the price increases. Builders must prepare for further rising prices for at least the next two years. "We expect construction prices for properties to increase by more than 20 percent over the next two years," says Harald Heim, partner and real estate specialist at PwC.