Germany: Building sector warns of spiralling costs
Federaţia Rusă
Business associations from the construction and real estate sectors, as well as academics, are warning the German government of a worsening crisis in the housing market, as building costs spiral out of control. "Germany is building far too expensively," said Dietmar Walberg, head of the Kiel-based building research institute Arge , on Thursday in Berlin. In major cities, the average price per square meter of newly constructed living space is €4,630 ($5,350) and even €5,400 including land costs.
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