German house building to rise

GERMANY’S construction boom is “set to continue”, a leading economic think tank said yesterday.

Investors in Europe’s largest economy are keeping their money at home rather than risking it elsewhere in the Eurozone, the Munich-based IFO Institute said.

“Growth in housing construction is expected to increase by an annual average of 0.9 per cent through to 2021,” the group forecasts.

However, IFO warned that rates of commercial and public sector construction are expected to decline in the coming years.