Building Prices for Conventional Mass-Housing in Germany Rise by 3.1% in November 2024
According to the Federal Statistical Office (Destatis), the prices for the new construction of conventionally manufactured residential buildings in Germany increased by 3.1% in November 2024 compared to November 2023. In August 2024, the previous reporting month, the price increase in the previous year’s comparison was also 3.1%. The prices for building services at the building site, including value-added tax, are referred to.
The prices for rough construction work on residential buildings rose by 2.0% from November 2023 to November 2024. The largest share of rough construction work and also of the overall index for the new construction of residential buildings is held by concrete work and masonry work. While the prices for concrete work increased by 1.0% in the previous year’s comparison, the prices for masonry work rose by 1.2%. Roofing work was 3.6% more expensive in November 2024 than in November 2023, the prices for excavation work increased by 4.5%, and the prices for room and wood construction work by 2.6%.
The prices for finishing work were 3.8% higher in November 2024 than in the previous year’s month. Here, the prices for heating systems and central hot water systems (including, for example, heat pumps) rose by 4.9%. These, along with metal construction work, have the largest share of the building price index for residential buildings. The prices for metal construction work rose by 3.0%. The prices for electrical, security, and information technology systems, including, for example, electric hot water heaters and communication systems, decreased by 6.3%, and those for thermal insulation composite systems by 3.3%.
In addition to the building prices, the prices for maintenance work on residential buildings (excluding cosmetic repairs) are also recorded. These were 3.6% higher in November 2024 than in the previous year’s month.
The new construction prices for office buildings rose by 3.4% between November 2023 and November 2024, and for commercial buildings by 3.1%. In road construction, the prices increased by 4.6% compared to November 2023, according to the Federal Office.