Slight rise in building prices in Germany

Prices for building new conventionally constructed residences in Germany (construction works on the building including value added tax) rose by 1.6% in November 2014 compared with November 2013.

As the German Federal Statistics Office (Destatis) has further revealed, the price increase in August 2014 had stood at 1.7% in the annual comparison.

From August 2014 to November 2014 building prices rose by 0.2%.

Prices for raw construction works rose by 1.3% from November 2013 to November 2014, while those for extension works went up by 1.7%.

Prices for maintenance work on residential buildings (without decorative repairs) increased by 2.3% compared with the prior year.

New construction prices for office buildings rose by 1.7% and for commercial buildings by 1.8% compared to November 2013.