In Hübner‘s and Loewenstein‘s view, „The housing sector will see 7 % growth in revenues and serve as the sector‘s main driver. With regard to housing completions, however, we will still be lagging well behind the predicted needs. If we include conversion projects, the overall number of completed residential dwelling units probably came to between 280 000 and 290 000 last year. This year, we are expecting the increase to range between 310 000 and 320 000 units. That will fall distinctly short of the minimum requirement of 350 000 units.“
Continuing, Hübner and Loewenstein note: “Public-sector construction expanded by 5 % last year. That was the highest growth rate since 2011. Despite a few untoward circumstances, we also see a growth scenario ahead for commercial construction. We think 3 % growth should be possible there, making that sector the one with the lowest anticipated growth rate. In 2016, new factory and workshop construction registered the most positive figures of all, with building permits up by more than 25 %.“
Across the German construction sector, the labour pool is nearly dry. At 28 000, the average number of skilled building workers without jobs hit a new historic low in 2016. Indeed, the lack of skilled workers poses the greatest risk for the relevant companies‘ further progress.
Hauptverband der Deutschen Bauindustrie e.V.