Add construction and real estate to the nation’s long list of economic problems
New Berlin apartment buildings.
Photographer: TOBIAS SCHWARZ/AFPIf Germany is once again the sick man of Europe, its ailing property and construction industries are unlikely to provide an antidote.
Following a decade-long property boom fueled by cheap financing, new construction and mortgage demand are collapsing while residential and office project developers are filing for insolvency in droves.
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Germany’s Property Market Is Looking Very Sickly