German housing construction sees unprecedented surge in cancellations in October

Posted on November 13, 2023   |  

In October, a significant number of housing construction projects in Germany faced cancellations, as 22.2% of companies reported such cancellations, up from 21.4% in the previous month.

This situation is deteriorating due to increasing interest rates and elevated construction costs, leading to a higher rate of project cancellations.

In October, nearly half of the companies (48.7%) reported a shortage of new orders, which is an increase from 46.6% in September.

Comparatively, in October 2022, only 18.7% of companies faced this issue.

Presently, half of all residential construction companies in Germany are grappling with a shortage of new orders, and this problem is progressively worsening each month.