Turnover has decreased across all areas and liquidity has become a cause for concern, say FDA officials. In the construction sector, for instance, both private and institutional investors are currently on the fence.
The Federation estimates that only 2,300 accommodations will be developed next year rather than the proposed 3,800.
The situation has changed drastically since the beginning of the year. Costs have skyrocketed all while demand is decreasing. FDA officials are urging the government to facilitate investments into housing to revitalise the sector, the opposite of what appears to be taking place at the moment.
The FDA advocates for further urgent measures, including a temporary reintroduction of the 3% value-added tax on new rented flats and on renovation projects. The Federation also believes that registration fees for completed construction projects should be abolished.
