The real estate chamber criticizes Abl-CEO for the latest statements

The building contractors block the housing market. With this statement, which he expressed in an interview with Paperjam, the CEO of the banking association ABBL Jerry Grbic hit a sore point. The developer section of the real estate chamber reacts on Friday: « Although this statement has fallen in a general voltage environment, it has a simplified image of an extremely complex situation. »

The crisis, with which the sector is currently confronted, is “primarily a crisis of trust, caused by a combination of macroeconomic and structural factors. In recent years, heavily increasing interest rates, rising construction costs, difficult access to financing and considerable regulatory uncertainties have burdened the real estate sector.

« In this environment, developers did not » reject « to build: they were forced to act carefully – both because of the uncertain economic situation and because of the difficulty of receiving construction loans on competitive conditions, » said the real estate chamber in a press letter.

Construction developers are among the actors affected the most by this crisis, emphasizes the chamber. They have often taken up increased costs and other hurdles « on their own margins – sometimes to the limit of economic resilience ». But the real estate chamber admits that the climate is changing, also thanks to various government measures to boost the activities on the real estate market.

Sustainable recovery can only take place if all actors – public sector, banks, municipalities, investors and developers – pursue the same goal: to regain the trust of households and investors. « It is crucial to define the right mix of structural and short -term measures together in order to create the prerequisites for a functioning, balanced and sustainable housing market, » sums up the chamber.