New Residential Building Prices in Germany Show Significant Year-on-Year Increase, Says Federal Statistical Office

New residential building prices in Germany increased by 15.1% in February 2023 compared to the same time last year, according to a report from the Federal Statistical Office. In November 2022, prices had gone up by 16.9% compared to the previous year. From November 2022 to February 2023, construction prices increased by 2.7%. These prices include value-added tax and refer to the costs of construction work done on the building itself.






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