Expert warns: Costs for building in Magdeburg continue to rise despite the Corona crisis

Expert warns: Costs for building in Magdeburg continue to rise despite the Corona crisis

According to a report by www.volksstimme.de, the prices for building real estate in Magdeburg and the surrounding area have risen significantly. This is due, among other things, to the fact that the costs of acquiring building land have increased. According to data from the Saxony-Anhalt State Statistical Office, prices have increased significantly within three years, despite the Corona crisis and a slump in the hardware store.

The increased costs for purchasing building plots have a direct impact on the real estate market in the region. Rising prices make building real estate more expensive for potential buyers and investors and could lead to fewer construction projects being realized. In the long term, this could lead to a lack of supply and further rising property prices.

In addition, the increased costs could also have an impact on further economic development in the region. Higher construction costs could burden construction companies and jeopardize the economic viability of construction projects. This could lead to a decline in investment and construction activity in the region.

Overall, current developments show that the rising prices for building plots and house construction in Magdeburg and the surrounding area represent a challenge for the real estate market and the regional economy. It will be important to closely monitor these developments and develop possible countermeasures to avoid long-term negative effects.