Construction costs are currently skyrocketing

Well, there will definitely be fewer new constructions. There are various reasons for that. But workers from the construction industry should still be in demand, as a lot of renovations and modernizations are pending. For all the companies that focus solely on new construction, it could get tough, but other companies could benefit from the available skilled workers. The whole industry will definitely not die out, and other times will come again.

For a bricklayer, renovations are relatively uninteresting.

Well, what can you say... Anyone building a 6-unit apartment building to invest their money won't be starving now... the first few years it's just 3% return instead of 4-6%... I'm almost in tears...

Well, what can you say... Anyone who builds a 6-unit apartment building to invest their money won’t be starving now... the first few years just yield 3% instead of 4-6%... I’m almost in tears...

He is not starving, on the contrary :-) Still, everyone decides for themselves what to do with their money. As of today, he wouldn’t have invested it in a property anymore ...

Well, there will definitely be fewer new constructions. There are various reasons for that. But workers in the construction industry should still be in demand, as plenty of renovations and modernizations are pending. For all the companies that focus solely on new construction, it could be tough, but other companies could benefit from the skilled workers becoming available. The entire industry will definitely not die out, and other times will come again.

I see it the same way. There is still a huge shortage of skilled workers and a lot to do. I don't see the industry completely and sustainably declining. But adjustments will have to be made and new paths taken. When I hear that there are far too few specialists for heat pumps (until now, gas was quite profitable and further training just costs), then there is still a lot of catching up to do.

We had a period in Germany where almost every working person could acquire a property. If it wasn't enough for a single-family house, then it was the condominium. Timeframe around 2015-2020. It reminds me a bit of the subprime crisis in the USA, although under different conditions. If borrowing money now actually costs something again in the long term, it looks different. Who still buys a condominium in Berlin as a new development project that costs 6,7,8, partially 10 thousand €/m2 with 3.5% fixed for 20 years?

In Berlin, prices are too much for a condominium. Of course, you can always find an affordable apartment for 350-400k, but it either needs renovation or is not connected to public transport at all. That’s what my search found out. It was about a 3-4 room apartment. Let's see how the market changes soon.

Better is what you decide for yourself. There can be no general decision here.

That definitely. But what doesn’t work is the argument "with a total budget of 550k you can’t build a house in areas with BRW >500€, better take an old building with a bigger plot and better location for the same money." That roughly sums up the argument of in one sentence, I just couldn’t put it so pointedly last night ;) And of course you can save money on renovation by doing it yourself. But you can also do that with a new build if you want and can. During major renovation a property is also no longer really livable, so that advantage disappears.