Construction costs are currently skyrocketing

Something about the current market situation here with us. New apartments in 2 multi-family houses from the developer in a small village with 6 thousand inhabitants, which will be completed by February 23, are now coming up for auction through the developer. This means the minimum bid for a 93 m2 new apartment is €199,000. The original price was €340,000. It has been listed on the internet for over a year now. Now anyone can bid (through the real estate agent) and if they know what others have bid, they can bid again. I think that's fair. But whether many will bid in the current situation, I would doubt. But the example shows the future development in the construction industry. A price of €140,000 less (as minimum bid) is already incredibly low. But the developer still hasn't sold over a third of the apartments. You could get a good bargain now (hoping the developer doesn't go bankrupt, since the entire outdoor area is not finished yet). So maybe not such a good idea after all.

The developer needs liquidity for new projects or to get rid of the old loans. Such a developer finances his business with much higher interest rates than end customers are used to. 1/3 sold normally, 1/3 quickly squandered for 2000€/m² and he could be safe.

But how the current buying mood of Germans is regarding new buildings is hard to estimate