According to German construction industry association HDB home sales growth is expected to pick up to 8.5% YoY. HDB revised its estimate from 6% previously on account of a boom in homebuilding in Germany.

HDB anticipates around 300,000 homes to be built in 2019, which is less than the government’s goal of seeing 375,000 homes constructed during this period. The association also expects home sales in Germany to increase by 5-6% in 2020.