Berlin's construction sector grew its revenue in 2015. According to the Statistical Office of Berlin-Brandenburg, construction revenue in firms with 20 or more employees rose by 6.6 percent to 2.2 billion euros compared to the previous year.
Housing construction leads the way
The main growth driver was residential construction, up 21.2 percent. Other segments moved in the opposite direction: commercial and industrial building fell by 3.4 percent, other structural works by 3.8 percent. Investment in 2015 clearly focused on building new homes.
Order books confirm the trend. New orders in the main construction sector rose by 3.0 percent to 1.9 billion euros. Boroughs like Mitte and conversion sites across the city saw particularly strong activity, a direct response to continued population growth.
Impact on the labour market
The construction boom showed up in the labour market too. The number of employees in the sector rose by 0.4 percent to an average of 11,727 people. Wages and salaries grew by 3.9 percent to 420.3 million euros. Berlin construction sites logged 13.6 million working hours, 1.9 percent more per working day than in 2014. Berlin's unemployment rate fell to 10.7 percent in the same year.
21.2 percent more residential construction, demand still outpaces supply
The 21.2 percent jump in residential construction reflects unbroken demand for apartments in Berlin. Even with the increased building activity, demand still outstrips supply. For existing property owners, the 2015 numbers underpin the broader market development in the capital.
