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Construction workers are seen at a new condominium building project in Huerth, western Germany, on April 5, 2023.
Ina Fassbender | Afp | Getty Images
This was more than 10 times the size of the 669.4 million euro loss reported a year earlier, which in itself marked an abrupt end to years of consecutive annual profits.
A sharp rise in interest rates and soaring energy and building costs have hit the German property sector hard, with the country’s real estate industry in the grip of its worst crisis for several years.
In the 2023 fiscal year,…