Exclusive-Germany scraps plans for more stringent building standards to prop up industry

📆 25/9/2566 8:08:00
📰 YahooFinanceCA

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The German government will put on indefinite hold plans to require more stringent building insulation standards, environment minister Robert Habeck told Reuters, an effort to help prop up the ailing building industry. The about-face from the German government comes ahead of a closely watched meeting between the building industry and government leaders with Chancellor Olaf Scholz on Monday to address a major slump in the sector. Abolition of the insulation standards has been a top demand of industry, which says the measures are too expensive and put a further damper on the depressed construction industry.

FILE PHOTO: Workers are seen at a construction site for a residential building, in BerlinBERLIN - The German government will put on indefinite hold plans to require more stringent building insulation standards, environment minister Robert Habeck told Reuters, an effort to help prop up the ailing building industry.

"High interest rates and inflation are a heavy burden for the construction industry," Habeck told Reuters, noting that the insulation measures now "can wait". German housing prices fell by the most since records began in the second quarter, the latest grim sign for the property market in Europe's largest economy, government data showed on Friday.

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