Sales in the construction industry will continue to increase strongly in 2022 and 2023. Overall, DIW Berlin estimates a nominal increase in construction volume of almost 13 percent in 2022 and six percent in 2023 to 585 billion euros. In 2021, construction volume increased by ten percent to 488...

Die Umsätze der Bauwirtschaft werden in diesem und im kommenden Jahr weiter kräftig wachsen. Insgesamt rechnet das DIW Berlin mit einem nominalen Anstieg des Bauvolumens um fast 13 Prozent im Jahr 2022 und weiteren gut sechs Prozent im Jahr 2023 auf dann 585 Milliarden Euro. Im abgelaufenen...

Die Umsätze der Bauwirtschaft werden in diesem und im kommenden Jahr weiter kräftig wachsen. Insgesamt rechnet das DIW Berlin mit einem nominalen Anstieg des Bauvolumens um fast 13 Prozent im Jahr 2022 und weiteren gut sechs Prozent im Jahr 2023 auf dann 585 Milliarden Euro. Im abgelaufenen...

Sales in the construction industry will continue to increase strongly in 2022 and 2023. Overall, DIW Berlin estimates a nominal increase in construction volume of almost 13 percent in 2022 and six percent in 2023 to 585 billion euros. In 2021, construction volume increased by ten percent to 488...

Zero carbon housing has been forwarded by researchers and policymakers as a way to reduce carbon emissions from the residential sector globally. Although policies promoting zero or low carbon housing have been set in several regions, there has been limited policy development towards this...

The coronavirus pandemic has led to a deep worldwide economic crisis. In many countries, the construction industry has been impacted. In Germany, however, construction activity is one of the economic sectors that has remained largely stable: In 2020, the total construction volume in Germany is...

Die Corona-Pandemie hat weltweit zu einer schweren wirtschaftlichen Krise geführt. In vielen Ländern ist auch die Bauwirtschaft erheblich beeinträchtigt. In Deutschland hingegen zählt die Bautätigkeit zu den Wirtschaftszweigen mit bisher weitgehend stabilem Geschäft. So dürfte das gesamte...

People continue to live in many big American cities, because in those cities housing costs less than new construction. While cities may lose their productive edge, their houses remain and population falls only when housing depreciates. This paper presents a simple durable housing model of urban...

Es ist populär, Spekulation als Grund für die Anspannung im Wohnungsmarkt anzuführen. Im Antrag 17/13391 "Spekulationen und Fehlentwicklungen im Wohnungsbau verhindern" werden die Themen Bauüberhang, Share Deals und Umwandlungen von Miet- in Eigentumswohnungen als Problembereiche genannt....

Wohneigentum verdient in NRW und im gesamten Bundesgebiet mehr Aufmerksamkeit. Hier bestehen große Chancen, die Altersvorsorge vieler Bürger zu verbessern, die Vermögensverteilung gleichmäßiger zu gestalten und sogar Wohnkosten zu reduzieren. Dazu sollten aber Hemmnisse in der...

Urban structures and urban growth rates are highly persistent. This has far-reaching implications for the optimal size and timing of new construction. We prove that rational developers postpone construction not because prospects are gloomy, but because they are bright. The slow mean reversion in...

The coronavirus pandemic has led to a deep worldwide economic crisis. In many countries, the construction industry has been impacted. In Germany, however, construction activity is one of the economic sectors that has remained largely stable: In 2020, the total construction volume in Germany is...

Die Corona-Pandemie hat weltweit zu einer schweren wirtschaftlichen Krise geführt. In vielen Ländern ist auch die Bauwirtschaft erheblich beeinträchtigt. In Deutschland hingegen zählt die Bautätigkeit zu den Wirtschaftszweigen mit bisher weitgehend stabilem Geschäft. So dürfte das gesamte...

The aim of this paper is to distinguish a number of factors that allow for a better understanding of investment process management in the housing construction industry. The research work that we performed consisted in conducting a questionnaire survey. A total of 192 Polish companies dealing...

This paper investigates heterogeneity in residential property yields using rental and sale listings from the largest German internet real estate platform. Equipped with property-level rent-to-price ratios obtained via matching properties for sale and for rent, we show that they strongly co-move...

Sale before completion (i.e. presale) is a common practice that real estate developers use to sell residential units. Since presale buyers are unable to inspect uncompleted units, developers may take advantage of asymmetric information and release information about quality to the market...

The construction industry is increasingly becoming a key pillar of the business cycle in Germany. DIW Berlin's construction volume calculation indicates a real expansion of construction services by around three percent each year over the next two years. In nominal terms, sales in the...

The (re-)introduction of rent regulation in the form of rent controls, tenant protection or supply rationing is back on the agenda of policymakers in light of rent inflation in many global cities. While rent control as social policy promises short-term relief, economists point to their negative...

Die Bauwirtschaft wird mehr und mehr zur Stütze der Konjunktur in Deutschland. Für die kommenden beiden Jahre weist die Bauvolumenrechnung des DIW Berlin auf eine reale Ausweitung der Bauleistungen um jeweils rund drei Prozent hin. In nominaler Rechnung dürften die Umsätze des Baugewerbes...

The construction industry is increasingly becoming a key pillar of the business cycle in Germany. DIW Berlin’s construction volume calculation indicates a real expansion of construction services by around three percent each year over the next two years. In nominal terms, sales in the...

Die Bauwirtschaft wird mehr und mehr zur Stütze der Konjunktur in Deutschland. Für die kommenden beiden Jahre weist die Bauvolumenrechnung des DIW Berlin auf eine reale Ausweitung der Bauleistungen um jeweils rund drei Prozent hin. In nominaler Rechnung dürften die Umsätze des Baugewerbes...

The (re-)introduction of rent regulation in the form of rent controls, tenant protection or supply rationing is back on the agenda of policymakers in light of rent inflation in many global cities. While rent control as social policy promises short-term relief, economists point to their negative...

Die Situation des deutschen Mietwohnungsmarkts wird aktuell gesellschaftlich breit diskutiert. Ein Nachfrageüberhang, der sich vorwiegend auf urbane Räume konzentriert, hat in den letzten Jahren zu einem deutlichen Anstieg der Mieten geführt. Da die Einwohner in Deutschland überwiegend...

In this chapter, I discuss innovation and entrepreneurship in residential real estate and construction (housing). Based on R&D spending and patent statistics, housing does not appear to be a very innovative sector. But in the last two decades, there has been a significant increase in the amount...

We advance a novel hypothesis that China's recent anti-corruption campaign may have contributed to the recent resurgence of the state-owned enterprises (SOEs) in China as an unintended consequence. We explore the nexus between the anti-corruption campaign and the SOE resurgence by presenting...

According to the German Institute for Economic Research construction volume forecast, the country's construction industry will continue to flourish in the coming years. Companies can count on a rise in the nominal construction volume of around 7.5 percent in 2019 and 6.5 percent next year. The...

Die Bauwirtschaft wird auch in den kommenden Jahren florierende Geschäfte haben. Das geht aus der aktuellen Bauvolumenprognose hervor. Danach können die Unternehmen mit einer Steigerung des nominalen Bauvolumens mit rund siebeneinhalb im laufenden Jahr und gut sechseinhalb Prozent im nächsten...

New survey data on residential land use regulation in California have allowed us to create the Mercatus-Augmented Terner California Housing Regulation (MATCHR) Index, which characterizes formal restrictions on density in 265 California jurisdictions circa 2018. To expand index coverage, we...

Housing affordability is one of the most pressing issues facing California today. In the intense public debate over how to make housing affordable, the role of new supply is a key point of contention. This debate continues despite robust empirical evidence demonstrating that supply constraints...

Increasing supply is frequently proposed as a solution to rising housing costs. However, there is little evidence on how new market-rate construction-which is typically expensive-affects the market for lower quality housing in the short run. I begin by using address history data to identify...

According to the German Institute for Economic Research construction volume forecast, the country’s construction industry will continue to flourish in the coming years. Companies can count on a rise in the nominal construction volume of around 7.5 percent in 2019 and 6.5 percent next year. The...

Die Bauwirtschaft wird auch in den kommenden Jahren florierende Geschäfte haben. Das geht aus der aktuellen Bauvolumenprognose hervor. Danach können die Unternehmen mit einer Steigerung des nominalen Bauvolumens mit rund siebeneinhalb im laufenden Jahr und gut sechseinhalb Prozent im nächsten...

Increasing supply is frequently proposed as a solution to rising housing costs. However, there is little evidence on how new market-rate construction—which is typically expensive—affects the market for lower quality housing in the short run. I begin by using address history data to identify...