Size and Impact of Real Estate Sector and Its Role for Business Cycles and Growth

Wolfgang Maennig

A chapter in Understanding German Real Estate Markets, 2012, pp 19-25 from Springer

Abstract: Abstract The real estate industry is one of the most important industrial sectors of Germany. Its development and the development of real estate values are most important to Germany’s economic business cycle and the country’s long-term growth path. Germany’s real estate price trend stagnated for at least a decade and a half and thus deviated from the international pattern. The underlying structural differences include, amongst others, the demographic development, the characteristics of the German real estate finance system, the fiscal policy and a decade-long low and stable general inflation. In return, the real estate sector in Germany – particularly when compared to other countries – serves rather a stabilising function in periods of weaker economic conditions.

Keywords: Construction; inflation; market size (search for similar items in EconPapers)
Date: 2012
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Chapter: Size and Impact of Real Estate Sector and Its Role for Business Cycles and Growth (2017)
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DOI: 10.1007/978-3-642-23611-2_2

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