Despite much lower material prices and hence construction costs than before, only few have the courage to sign a contract for construction of new construction.
38 pct. decline
Thus, the total floor area started has fallen by 38 per cent. In the first quarter of 2010.
Worst is the situation in commercial buildings.
Due to the crisis, a very large number of square meters in existing buildings are available for new tenants, and on the other hand, business owners are not in a position to build new ones because of poorer revenue, earnings and loan terms.
In Q1 49% began. Fewer commercial buildings. In particular, there is a standstill in commercial construction for offices and warehouses.
Detached houses
Neither private dare bind up the dream house. New construction in this field has now fallen by 53 per cent. Compared with the same quarter last year.
Detached houses
Neither private dare bind up the dream house. New construction in this field has now fallen by 53 per cent. Compared with the same quarter last year.
Bad prospects
Although everything else equals the benefit of low interest rates, and there are small adjustment signs in terms of falling construction costs, rising house prices and increased trading activity, there is a prospect of a lean year for housing construction. The number of homes for sale remains large in large parts of the country and the previous year’s construction boom has not yet been absorbed by the market.
The total housing investment in the national accounts follows a slowdown in housing construction commenced and it is therefore assumed that the contribution to growth in the economy from this front will continue to be negative this year.
Winter weather
It was hot cold during the first months of the year, but even when the experts correct this, there seems to be a further setback for construction.