ᐅ Is the construction boom still ongoing?

As the title suggests, what's the situation like for you? Is there still a lot of building going on, or has it slowed down?

Are entire fields being developed, or just scattered plots?

And so on. Please share your observations and experiences. My impression is that the forum has become somewhat quieter.

The second phase of the new development area is now being developed, again with about 30 plots. The first phase, in which we also built, was sold relatively quickly within a few months. At the moment, I can't really imagine it going that fast again.

Our area had notary appointments with building obligations (shell construction of a residential building) required within 2 years as of September last year. Out of 20 plots, 2 are currently completed and 5 are under construction. For the rest, nothing is happening; in fact, in the municipal council minutes of the past months, there have been practically no new inquiries, even though the municipality has 3 active development areas.

In our town (near the Lake Constance district), I’ve noticed that new apartments from the developer are not being sold, and some deals were even canceled at the notary. Row houses from another developer were returned by interested buyers (I had expressed interest after they were all taken, and now they call me once a week). Newly designated building plots from the city have also been partly returned (550€ per m² (about $57 per ft²) and are supposed to be sold only to families with lower income/assets, well…).

Rents for new apartments are now around 15€-17€ per m² (about $1.40-$1.60 per ft²). Meanwhile, prices for (“older”) condominiums and houses are going down. An acquaintance didn’t want to sell his apartment in spring for 370,000€ because his house wasn’t finished yet. Now no one wants it, not even for the listed price of 310,000€.

In our street, four building plots were sold, two to private individuals and two to developers. On one of them, the shell construction is complete, and the interior work is progressing slowly as a DIY project, but work is ongoing. On the second plot, the ground for the foundation slab was prepared in spring. Since then, there has been no visible progress. The two plots owned by the developer remain unused, with no signs of activity.

I would say the boom has at least taken a significant hit. Since there is no end to the crisis in sight, I would assume this is it for now, and the industry is returning to normal.

From my professional experience: It is still ongoing, but no longer as easy as before. Projects are being postponed, and tightly budgeted projects (multi-family residential developments by property developers) are sometimes being reversed even after units have been sold.
Prices for new builds (condominiums) are generally stable, with a slight decline in major metropolitan areas. Rents are increasing (except in metropolitan regions) to offset the higher construction costs.

Conclusion: The initial waiting phase since the beginning of the year has ended. Activity continues, but more with the foot on the brake than on the accelerator.