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OPINION: I have low expectations of these upcoming national elections

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Construction Professional Zuko Peter does not think the upcoming elections are likely to bring significant changes., but he believes it is crucial for the Construction and Built Environment (CBE) industry to voice its expectations because active participation in the elections is essential to address systemic issues. In my opinion, the upcoming national elections will not bring about significant changes compared to previous ones. Things are likely to remain the same or even worsen after the elections. Despite my low expectations, I believe it is crucial for the Construction and Built Environment (CBE) industry to voice its expectations. As industry professionals, we are being exploited by companies owned by politicians who prioritize self-enrichment. It is detrimental to our industry to be infiltrated by incompetent and unqualified individuals. The government must ensure that these individuals, at the very least, possess an educational background comparable to other sectors. Furthermor
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NEWS: Germany’s construction slump ‘taking longer than expected’

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Germany’s construction sector is set to remain subdued throughout 2024 as a slump sparked by its worst property crisis in decades takes longer to resolve than expected.


Germany’s construction spending is forecast to fall in 2024 for the first time since 2009 and the fallout from the financial crisis, according to a study by the DIW economic institute and seen by Reuters.

A separate study by Ifo economic institute showed that sentiment in residential construction is at an all-time low.

Rapidly rising interest rates, combined with a surge in costs has pushed some developers in Germany into insolvency.

A new DIW study predicts that construction volume will shrink by 3.5% in 2024 to €546 billion (US$597.3 billion), before recovering by 0.5% in 2025, according to Reuters.

Laura Pagenhardt, an author of the study, said, “The slump in the construction industry is taking longer than expected.”

The Ifo survey showed a fall in sentiment in residential construction to -58.6 points in December, down from -54.4 in November. It was the lowest level since Ifo began tracking the index.

Tim-Oliver Mueller, head of the German Construction Industry Federation said, “Berlin, we have a problem. We are not talking about abstract things, but about affordable housing, which is urgently needed.”

The source of this hardhatNEWS is Construction Briefing

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