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Growing Demand For Residential Facilities Is Driving The Overall Growth Of The German Construction Sector - ConsTrack360

04-06-2022 03:53 PM CET | Industry, Real Estate & Construction

Press release from: constrack360

Growing Demand For Residential Facilities Is Driving

The majority of Germany's economic outlook is driven by heavy demand in the construction sector and high employment. Moreover, government initiatives to revamp the construction sector by allowing more construction permits and fiscal incentives to citizens are helping the construction sector.

Construction of residential facilities has always been the driving factor for the growth of the construction sector in the country. The residential sector in the country is still in much demand due to the high immigration of refugees, strong urbanization, and an increasing number of immigration of professionals.

Additionally, in September 2020, the government permitted the construction of 29,700 dwellings in the country. According to the Federal Statistical Office (Destatis), the number of permits for new buildings and existing buildings grew at 4.2% between January and September 2020, compared to last year during the same period.

After the slump in the economy during the second quarter of the year - primarily due to the Covid-19 pandemic, the economy showed recovery between July and September. According to Constrack360, economic recovery added with the government's decision to keep operating the construction sites despite lockdown restriction, is likely to support the construction sector in the next quarter.

To get detailed insights and FREE sample report please click here @
https://www.constrack360.com/reportstore/view/Germany-Construction-Industry-Databook-Series-4028

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ConsTrack360 is a global research and advisory firm providing comprehensive, accurate, and unbiased business intelligence platform on construction industry. Through detailed databases and insights, we offer unmatched detailed and unbiased content globally.

With over 100,000 data points and 300+ reports, we help clients gain actionable insights across 50 countries, which directly impact revenues. For more information, please visit our website www.constrack360.com or email us at info@constrack360.com

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