Construction costs are currently skyrocketing

Short update. Today has proven to me that there is still endless money available on the market. In our town, 5,500 inhabitants in West Bavaria, a house was auctioned off today. The house was built in 1900, without central heating, 1 wood stove, no bathroom, vacant for 10 years, single-story with a ceiling height of 2 meters, plot size 122 (!) m2. The house is uninhabitable, a pure demolition object.

Market value 20,000 euros. The bid was accepted for 55,000 euros. I am lost for words....

Bargain! 15k demolition and you have a super cheap plot. Where's the problem?

I think there will be another big plus in the order books until July...

The ECB then wants to raise the key interest rate in July, which will mean the end for many middle-class projects

70k for the 122sqm plot makes 570€/sqm. I find that quite a lot for a place with 5500 inhabitants. Then you still have to go through the hassle of putting up a house that you want to live in. Even as a mid-terrace house, the setback eats up half the plot