Real Estate Crisis
German Housing Crisis Deepens as Slump in New Orders Hits Record
- More home builders report suffering from financial strains
- Sector confidence falls further, with no turnaround in sight
In November, 49.1% of developers in Germany said they were suffering from a lack of new orders.
Photographer: Maria Feck/BloombergThis article is for subscribers only.
Germany’s housing crisis risks intensifying as nearly half of the country’s builders complain of insufficient orders and more than one in 10 report financial difficulties.
In November, 49.1% of developers said they were suffering from a lack of new orders, up from 48.7% in the previous month, according to a survey by the Munich-based Ifo institute. That represents the eighth increase in a row and the highest level since records began in 1991.