The escalation in the prices of materials and equipment is pushing Portuguese construction companies to reduce the validity period of the budget given to customers, from between one and six months, to between eight and 15 days, according to Jornal de Negócios.

Three medium-sized companies linked to the construction sector point to cost increases of between 50% and 100%, as well as supply failures and rising prices for raw materials and labour. Despite this, the companies consulted are confident about this year, but admit prudence in the face of the current war situation in Ukraine.

Construction officials point to the war in Ukraine as the cause of the significant worsening of difficulties and the prospects for short-term results, and emphasise that the increases in materials during the pandemic were one-off, contrary to the general increases now in place.