German demand for housing outstrips construction boom
The country needs to build at least 350,000 new homes every year to ease the shortage, say property experts
29 May 2019 - 16:18
Berlin — German builders completed nearly 285,900 new dwellings in 2018, the highest number in 16 years, data shows, but construction still fell short of expectations and may not ease a drastic shortage of affordable housing.
Demand for property is soaring in Europe’s biggest economy due to a growing population, increased job security and record-low borrowing costs. With demand outstripping supply in many urban areas, property prices and rents have soared in major cities such as Berlin, Hamburg, Munich and Frankfurt...
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