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Construction prices in Germany: Slow increase in February
Construction prices in Germany are rising more slowly, as the Federal Statistical Office reports. Prices for shell construction and carpentry work are falling, while finishing work is becoming more expensive. Find out more about the current developments.
Construction prices in Germany: Slow increase in February
The rise in construction prices on construction sites in Germany has continued to slow. According to the Federal Statistical Office, prices for the construction of new conventional residential buildings rose by 2.8 percent in February compared to the same month last year. In November the rate was 4.3 percent, while in August it was even 6.4 percent. Compared to November of the previous year, construction prices rose by 1.2 percent in February.
In some areas prices have not increased. Shell construction work barely increased in price at 0.4 percent. Concrete work was even 2.1 percent cheaper compared to the previous year. There were also price declines for carpentry and wood construction work of 1.4 percent. However, prices for roofing and waterproofing work rose by more than 3 percent, while earthworks became more expensive by 4.8 percent.
At 4.7 percent, prices for the expansion work were significantly higher than in the previous year. Carpentry work in particular rose in price by 3.5 percent. Prices for heating systems and central water heating systems, such as heat pumps, also rose by 6.9 percent.
Construction prices rose sharply, especially in 2022, due to the war in Ukraine and higher inflation. At its peak there were increases of over 15 percent. However, this price increase has been weakening since 2023.