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Top related persons:
Kai Pfaffenbach - 3 Andreas Mattner - 3 Oliver Mueller - 3 Matthias Inverardi - 3 Sven Carstensen - 2 Florian Schwalm - 2 Olaf Scholz - 2 Klara Geywitz - 2
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Frankfurt Germany Germany's Europe's Kai Pfaffenbach FRANKFURT United States Sweden Ukraine
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REUTERS - 3 German Property Federation - 3 European Central Bank - 3 German Construction Industry Federation - 3 Thomson - 3 CARE - 2 Reuters Graphics Reuters - 2 Germany - 2

Search resuls for: "German Construction Industry Federation"


3 mentions found


☆ Explainer: Why Germany's property sector is in the dumps
  + stars: | 2023-08-09 | by ( Tom Sims | Thomson Reuters | Covers German Finance With A Focus On Big Banks | ) www.reuters.com   time to read: +3 min
Germany's property sector is in stress, underscoring a major change of fortune for real estate in Europe's largest economy after an end to the era of cheap money. In the latest signs of stress in the sector, Germany's largest real estate group Vonovia (VNAn.DE) posted multi-billion euro losses and writedowns, and job growth for construction workers has stagnated. The property sector makes up roughly a fifth of economic output and one in ten jobs, according to the German Property Federation. The Ukraine war has also made German property seem riskier for foreign investors. The president of the German Property Federation, Andreas Mattner, is pressing the government to temporarily suspend a property sales tax and is demanding a low-interest rate credit program to support new residential building.
Persons: Kai Pfaffenbach, Sven Carstensen, Florian Schwalm, Olaf Scholz, Klara Geywitz, Andreas Mattner, Oliver Mueller, Matthias Inverardi, Holger Hansen, Friederike Heine Our Organizations: REUTERS, CARE, German Property Federation, Reuters Graphics Reuters, European Central Bank, Germany, German Construction Industry Federation, Thomson Locations: Frankfurt, Germany, Germany's, Europe's, Kai Pfaffenbach FRANKFURT, United States, Sweden, Ukraine, East, Asia
☆ Why Germany's property sector is in the dumps
  + stars: | 2023-08-09 | by ( Tom Sims | Thomson Reuters | Covers German Finance With A Focus On Big Banks | ) www.reuters.com   time to read: +3 min
Germany's property sector is in stress, underscoring a major change of fortune for real estate in Europe's largest economy after an end to the era of cheap money. In the latest signs of stress in the sector, Germany's largest real estate group Vonovia (VNAn.DE) posted multi-billion euro losses and writedowns, and job growth for construction workers has stagnated. The property sector makes up roughly a fifth of economic output and one in ten jobs, according to the German Property Federation. The Ukraine war has also made German property seem riskier for foreign investors. The president of the German Property Federation, Andreas Mattner, is pressing the government to temporarily suspend a property sales tax and is demanding a low-interest rate credit program to support new residential building.
Persons: Kai Pfaffenbach, Sven Carstensen, Florian Schwalm, Olaf Scholz, Klara Geywitz, Andreas Mattner, Oliver Mueller, Matthias Inverardi, Holger Hansen, Friederike Heine Our Organizations: REUTERS, CARE, German Property Federation, Reuters Graphics Reuters, European Central Bank, Germany, German Construction Industry Federation, Thomson Locations: Frankfurt, Germany, Germany's, Europe's, Kai Pfaffenbach FRANKFURT, United States, Sweden, Ukraine, East, Asia
☆ Exclusive: Struggling German property firms appeal to Berlin for multi-billion boost
  + stars: | 2023-07-20 | by ( Tom Sims John O'Donnell | Tom Sims | John O'Donnell | ) www.reuters.com   time to read: +6 min
"I am worried because we are in a deep real estate crisis. And the real estate crisis needs clear, structured and downright radical steps to fix it," Mattner said. For years, Germany's property market has been seen as a safe haven, becoming a major draw for foreign investors. Recent data shows the stress the property sector is facing as the European Central Bank hikes interest rates, with little respite in sight. The fall is "catastrophic," said Andreas Beulich, head of the Federal Association of Independent Real Estate and Housing Companies.
Persons: Kai Pfaffenbach, Chancellor Olaf Scholz, Andreas Mattner, Mattner, Tim, Oliver Mueller, Mueller, Scholz, Danyal, Andreas Beulich, Mathias Duesterdick, ”, Andreas Naujoks, Simone Zapke, Emma, Victoria Farr, Matthias Inverardi, Sharon Singleton Organizations: REUTERS, German Property Federation, German Construction Industry Federation, Reuters Graphics, European Central Bank, Federal Association of Independent, Housing Companies, Centrum Group, ECB, Thomson Locations: Frankfurt, Germany, Germany's, Europe's, Kai Pfaffenbach FRANKFURT, Baden, United States, Sweden
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