By Julian Sheain London | chinadaily.com.cn | Updated: 2023-11-06 19:03View of the construction site of the Elbtower building in Hamburg, Germany, November 2, 2023. [Photo/Agencies]Germany's growing economic problems have been highlighted by the halting of construction of what would have been one of the country's tallest buildings, in the political heartland of Chancellor Olaf Scholz. But work has stopped after Austrian property company Signa fell behind in payments to its builder, Lupp. According to the German Property Federation, Germany's real estate investment market accounts for around one-fifth of the country's economic output, and contributes one in 10 jobs, but this year it has struggled. "According to (finance company) BF.Direkt, a long-term price correction in the housing sector is still not expected," he added.

Source: Forbes November 06, 2023 11:14 UTC