Residential construction costs up 1.7% in 2017

By TPN/Lusa, in News · 08-02-2018 07:05:00 · 0 Comments
Residential construction costs up 1.7% in 2017

Residential construction costs in Portugal last year increased by 1.7% while prices for repairs and maintenance were up 2.0%, far outstripping the 0.6% increase seen in both indices the previous year, the National Statistics Institute (INE) said on Wednesday.

According to the INE, the increase in residential construction costs hides a 2.1% increase in labour costs and a 1.2% increase in materials.

In December alone, the residential construction cost index was up 1.7% on the same month of 2016, while the index for repairs and maintenance was up 1.3%. Here, too, the rising price of labour was the main driver of the increase.

The Greater Lisbon area was the part of Portugal in which construction costs increased most in the 12 months to December, at 2.1%.

The Algarve was the only region to see a decrease, of 0.2%.


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