The rise in energy prices could once again drive up construction costs in Germany. Matthias Frederichs, chief executive of the building materials association BBS, warned that “increasing energy prices can put building‑material costs back under pressure”. He added that many companies are currently covered by long‑term supply contracts, but the real question is how long the present price level for gas and oil will hold.
Frederichs noted that the construction sector is only just showing a mild recovery after the steep downturn of recent years, and that any new, energy‑driven price spikes could quickly undo that stability. Whether that happens depends on how long the current conflict lasts and its impact on energy markets.
Tim‑Oliver Müller, CEO of the construction industry association HDB, said the closure of the Strait of Hormuz could indirectly affect the raw‑material supply chain for the construction sector. He cited asphalt production, which relies on bitumen, as an example. Müller emphasized that supply chains have diversified since the start of the war in Ukraine, so he does not anticipate immediate shortages in material availability. Nevertheless, he warned that the global rise in crude‑oil prices currently being observed could still translate into higher costs domestically.