In principle, you are quite well positioned, the land and construction costs are just currently beyond reasonable. Does it necessarily have to be a new build? Old buildings also have their advantages, often a good location, a bit more land, etc. Of course, you have to renovate there, but overall it is simply a bit more predictable than a new build. I was faced with a similar situation and ultimately decided against the new build, it would have been too tightly stretched. With us, the plots are even significantly more expensive...