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

In: Understanding German Real Estate Markets

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  • Wolfgang Maennig

    (University of Hamburg)

Abstract

The real estate industry is one of the most important 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. On average, Germany’s real estate activities and price trends have stagnated more or less since the mid-1990s until 2006 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 stabilizing function, especially in periods of economic slowdowns.

Suggested Citation

  • Wolfgang Maennig, 2017. "Size and Impact of Real Estate Sector and Its Role for Business Cycles and Growth," Management for Professionals, in: Tobias Just & Wolfgang Maennig (ed.), Understanding German Real Estate Markets, edition 2, pages 17-23, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-319-32031-1_2
    DOI: 10.1007/978-3-319-32031-1_2
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    Cited by:

    1. Oliver W. Lerbs, 2014. "House prices, housing development costs, and the supply of new single-family housing in German counties and cities," Journal of Property Research, Taylor & Francis Journals, vol. 31(3), pages 183-210, September.
    2. Oliver Lerbs, "undated". "House Prices, Housing Development Costs, and the Supply of New Single-Family Housing in German Counties and Cities," Working Papers 201283, Institute of Spatial and Housing Economics, Munster Universitary.
    3. Lerbs, Oliver W., 2012. "House prices, housing development costs, and the supply of new single-family housing in German counties and cities," CAWM Discussion Papers 57, University of Münster, Münster Center for Economic Policy (MEP).

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