Property market dispute - any particular incident?
Neuss Construction Industry Thriving Amidst Unfounded Crisis Alarms
New stats from North Rhine-Westphalia reveal that the alleged crisis in the Neuss construction sector is more hype than reality. According to IT NRW, production in the North Rhine-Westphalian construction industry in July 2023 surged 1.1% above July 2022 figures. Residential construction rose 1.6%, and civil engineering saw a slight 0.6% increase.
Digging deeper into the residential sector, various sub-niches showed contrasting trends: Overall residential construction saw a minor dip of 0.9%, but public residential construction soared 14.4%, while commercial and industrial construction also saw a boost of 2.5%.
Civil engineering sub-sectors exhibited a mixed bag of results: Road construction dropped 10.5%, but commercial and industrial civil engineering and other public civil engineering posted encouraging gains of 7.6% and 2.4%, respectively.
Comparing figures from July 2023 against pre-COVID levels demonstrates a less alarming picture. Although the construction industry was still 4% below July 2019 levels, both residential construction (-5.9%) and civil engineering (-2.0%) were not on the brink of collapse.
Taking a look at the year-to-date cumulative construction production, it stood 0.4% higher than the same period last year.
Recently, from October 4 to 6, Neuss and its eight municipalities showcased around 15 projects from the commercial and residential sectors at the Expo Real in Munich, in search of interested investors. Despite the difficulties faced by real estate companies due to increased interest rates, inflation, and bureaucracy, the initial feedback from the event was positive, with high interest in the projects from Rhein-Kreis Neuss.
Hans-Jürgen Petrauschke, Landrat of the Rhein-Kreis Neuss, expressed an optimistic outlook in a press release, stating, "The number of exhibitors and interest in the projects from the Rhein-Kreis Neuss is high."
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Insights:
- North Rhine-Westphalia is focusing on sustainable construction practices, as observed in Dyckerhoff's pursuit of sustainable concrete and cement solutions and their goal of achieving climate neutrality by 2050. This trend towards environmental responsibility in construction materials and processes is prevalent across the industry.
- Infrastructure projects linked to modern technologies, such as hydrogen mobility, are advancing in North Rhine-Westphalia, including Rhein-Kreis Neuss, likely leading to increased demand for related infrastructure development and transportation facility upgrades.
In light of the thriving Neuss construction industry, there is a promising opportunity for investing in real-estate projects from the region, as demonstrated by the positive feedback received at the Expo Real in Munich. Moreover, with the focus on sustainable construction practices and the advancement of infrastructure projects linked to modern technologies, investing in the finance sector of this industry could yield significant returns.
