Construction costs are currently skyrocketing

It's somehow no longer normal: the approval has been with the office for almost 3 months. At submission, the interest rate for the construction financing was 1.0%. Now, the application is not yet approved and it's 2.1%. That hits the substance if you don't even have this 3 months of planning security...

The other way around: You should plan your projects in such a way that you can start such things without any problems.
With our current financing, we have a 7% annuity. You can just forget that if you want to treat yourself to 180m² with a wellness area for 2 people...

On N-TV there is a report from DPA:
Alone in the 4th quarter, real estate prices in Germany rose by 12.2%. As strong as in the year 2000.
Low interest rates, demand, etc. we have all already mentioned here. No quick relief to be expected.
Construction companies are well utilized and problems with supply of materials will prevent the supply from increasing significantly.

I met an acquaintance yesterday who is a large property developer. Was somewhat shocked. Due to material and labor costs, for new projects he now has to charge over €6,000/m2. Penthouses over €7,500/m2.
We are talking about larger apartment buildings without special location and equipment. More in rural areas.

So it won't get cheaper than now anytime soon. Even if it is significantly more expensive compared to a year ago.