How is the construction boom? Still there?

  • Erstellt am 2022-09-19 12:45:39

Pinkiponk

2022-09-20 09:47:53
  • #1

We moved in three weeks ago and we like it here. We are already a bit older ;-) , but not old enough yet to not still try to realize my husband's dream of a farmhouse in need of renovation or a three-sided farm. :-) So, after moving is before moving. :-) But for now, we are just enjoying the new home; we feel comfortable here and the neighbors are great.
 

Rechtsfuß

2022-09-20 09:56:59
  • #2
We are currently purchasing a plot of land and will then observe what happens with interest rates, construction costs, and subsidies. According to our house bank, almost no financing for new buildings is being finalized at the moment. Our planned general contractor says that they will be busy until summer next year, but after that, the outlook is poor. Here in the small town, the changes are noticeably felt. It may be different in big cities.
 

xMisterDx

2022-09-20 10:31:31
  • #3
The statements of a general contractor, especially of the seller or even owner, should always be taken with caution. Unless you know each other well and for a long time.

Neither interest rates nor building material prices will drop sharply in the short term. Looking ahead 2-3 years, prices can only go up; cheaper is hardly possible.
Simply because many general contractors have to recoup losses caused by sharply rising prices and fixed prices in 2021/22.

PS:
Oh... and the rising energy prices will increasingly be reflected in prices the longer the crisis lasts. Craftsmen do not pass this on all at once, but gradually.
 

Rechtsfuß

2022-09-20 11:23:21
  • #4


I agree with you, I evaluate the statements of the general contractor somewhat differently. Nevertheless, it is simply a fact that construction activity in the private sector is declining significantly. This is shown by the private and professional circle of acquaintances as well as the construction areas in the vicinity that are marketed and developed with significant delays.
 

xMisterDx

2022-09-20 11:39:33
  • #5


Definitely. But this will also be because the interest rate and inflation shock first need to be digested. When I received a hefty price adjustment at the beginning of the year, I also had to take a moment to consider whether we should stop or cancel the construction project.

But as already said, there are no signs whatsoever that it will become significantly cheaper again in the short term, i.e., within 2-3 years. The key interest rate is being raised and will remain at that level for some time, just as energy costs will not return to the 2019 level in the long term either.

Waiting now could turn out to be a trap in the end. The likelihood of this is not small.
 

schubert79

2022-09-20 11:48:28
  • #6


No, they have not been officially allocated yet, as the official process is just starting now. But unofficially they are all already gone and the waiting list is extremely long.
 

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