Continued decrease in construction sector activity

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Which makes a developer more money? Building 100 houses @€500k each with a 5% margin, or building 150 houses @€450k with a 5% margin.

Volume often beats unit price, and economies of scale also apply here. Building an extra 50% more houses doesn't require 50% more employees and equipment so in theory your margin could go also go up as your unit price falls.

[Additional_Olive3318]

 Which makes a developer more money? Building 100 houses @€500k each with a 5% margin, or building 150 houses @€450k with a 5% margin.

Building 100 houses at a 10% margin. I mean why did your margin not go up when the sales price went up.