The housing crisis worsens due to cancellations and a lack of orders in the construction industry.

Einer Unternehmensumfrage des ifo-Instituts zufolge spitzt sich die Krise im deutschen Wohnungsbau weiter zu. Im August beklagten 20,7 Prozent der Baufirmen abgesagte Projekte, wie das Münchener Institut mitteilte. Das ist ein neuer Höchstwert. Im Juli waren es noch 18,9 Prozent gewesen.

„The cancellations in residential construction are piling up to a new record high,“ said ifo expert Klaus Wohlrabe, adding, „Since the start of the survey in 1991, we have not observed anything comparable. The market uncertainty is enormous.“

According to the ifo Institute, the main reasons are the significantly increased construction costs and interest rates. „The reduction in subsidies due to stricter energy-saving requirements also burdens the calculation of the builders,“ said Wohlrabe.

Many construction companies could now face difficulties: 44.2 percent of survey participants have already reported a lack of orders. In July, it was still 40.3 percent, and in the same month last year, only 13.8 percent. 11.9 percent of companies reported financing difficulties, according to the ifo Institute, which is the highest value in over 30 years.