The supply of new buildings – especially single-family homes – is becoming increasingly scarce, as Credit Suisse’s Real Estate Study 2022 notes. Quote, “Meanwhile, no relief is coming from the supply side: the market remains parched as new home construction continues its slide and is now a mere shadow of its former self.”
The pandemic gave life a completely different direction in some cases.
Supply and production shortages – caused by Covid 19 – are resulting in price increases in the construction sector. This causes builders to delay their projects or even decide not to build.
The home office situation during the lockdown has become the desirable “normal”, forcing a reassessment of the housing situation. Therefore, we are experiencing a realignment of habits. The place of living and working is being redefined.
Real Estate Study 2022, Credit Suisse: “The fact that this desire is pronounced is confirmed by various surveys: in a survey conducted by the consulting firm Deloitte in March 2021, a total of 63% of participants stated that they would prefer to work half of their working hours in a home office in the future. Only 12% would like to return to the office completely, and among those under 30, the figure was only 9%.”
This results in the need for larger apartments and houses. That’s because the trend of working from a home office continues to grow. According to the Federal Statistical Office, nearly 40% of the workforce worked from home last year. In 2017, it was not even 23%.