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Financial expert warns of layoffs: Bielefeld's main construction industry in crisis
According to a report from www.nw.de, the construction industry in Bielefeld is severely affected by the current economic crisis. There is a noticeable decline in the new construction sector, resulting in a shift towards renovation and maintenance work. The increased costs and excessive bureaucracy are paralyzing and making many construction projects more expensive, and the number of employees is also expected to decline. The OWL Chamber of Crafts is calling on politicians to abolish or reduce the property transfer tax and to improve the depreciation conditions for construction investors. The building land strategy adopted in 2019 has depressed land prices, which means that farmers hardly ever give up their land voluntarily. As a result, the core business of ...
Financial expert warns of layoffs: Bielefeld's main construction industry in crisis
According to a report by www.nw.de, the construction industry in Bielefeld is severely affected by the current economic crisis. There is a noticeable decline in the new construction sector, resulting in a shift towards renovation and maintenance work. The increased costs and excessive bureaucracy are paralyzing and making many construction projects more expensive, and the number of employees is also expected to decline. The OWL Chamber of Crafts is calling on politicians to abolish or reduce the property transfer tax and to improve the depreciation conditions for construction investors.
The building land strategy adopted in 2019 has depressed land prices, which means that farmers hardly ever give up their land voluntarily. As a result, property developers' core business of creating privately financed apartments in Bielefeld is coming to a standstill.
The Central Association of the German Construction Industry (ZDB) expects a decline in housing construction and employment in the coming year. The creation of new building land in Bielefeld is also a lengthy process that is hampered by bureaucracy and scientification.
Despite the current challenges, there are also positive developments, such as the creation of new living space in and around the Grünewaldstrasse district. The Bielefeld Society for Housing and Real Estate Services (BGW) plans to complete a total of 245 apartments in 2024.
The current situation in the construction industry in Bielefeld clearly shows that the economic crisis is having a significant impact on the market. A decline in new construction and increased construction costs could lead to further layoffs and a slowdown in the construction sector. The demands for political support and the lengthy processes of building land development represent additional challenges. It remains to be seen how the situation will develop and whether politicians will take measures to support the construction industry in Bielefeld.
Read the source article at www.nw.de