The Federal Statistical Office of Germany (Destatis) has released data on construction prices for new housing in February.
Accordingly, construction prices for new housing in the country increased by 15.1% in February compared to the same period last year.
In November 2022, when the previous statistics were announced, the construction prices for new housing increased by 16.9% annually. In May 2022, it recorded the highest increase in more than 50 years with an increase of 17.6%.
Analysts said the "tremendous" increase in construction costs for new housing after a noticeable increase in interest rates has led potential homeowners and investors to avoid planned projects.