Construction costs are currently skyrocketing

Perhaps also a few current figures from me on construction costs per sqm. However, very high-quality execution in a very large and sought-after metropolis. In multi-story residential construction.

€2,950 per sqm gross floor area, so approx. €3,800 per sqm living space. - and these are actually only the construction costs without any ancillary construction costs, planning costs, etc.

For this:

However, very high-quality execution in a very large and sought-after metropolis.

that sounds almost moderate. Is this currently being built, or is it already completed?

sounds almost moderate.

Since BGF, that is then also without proportional corridors, staircases, common rooms, cellar compartment, boiler room, etc. And without land and without underground parking space... that's quickly over 5000 euros/m2 of living area – and the developer's surcharge is added on top of that.

that sounds almost moderate. Is it currently being built, or is it already completed?

The building permit has been granted and construction started at the beginning of ’22. The total costs, i.e. construction costs + incidental costs + land + underground parking + financing costs, etc., amount to approx. €14,500 per sqm of living space. It is being sold for €16,000 plus underground parking space for €50,000.
Thus, not a particularly generous margin for the developer. This is indeed meant seriously.

€16,000 plus TG parking space for €50k.

And now it no longer sounds moderate...

According to the ifo business surveys in October 2021, 38% of building construction companies and 27.6% of civil engineering companies reported being affected by delivery delays. The companies expected this situation to last another 5 months. The building materials industry passes on price increases in the energy sector, and thus wholesale prices also rose.

The Federal Statistical Office has recorded that the number of building permits for dwellings (including single-family houses, two-family houses, multi-family houses, and dormitories) YTD 2021 (as of September) increased by 5.4% compared to the previous year. The number of permits for construction measures in existing buildings increased by 12.7% in the same period.

Considering these three factors – supply bottlenecks, soaring energy costs, and growth in orders – it is clear that even more builders will face price increases for their projects in the near future.