By Eleni Botas
The construction cost has caught fire, causing a new headache for the builders, who translate this new increase into a further increase in construction by 300 euros per square meter, approximately.
According to data announced today by ELSTAT The General Price Index of Construction Materials for New Residential Buildings in October 2021, compared to the corresponding index of October 2020, increased by 6.3%, compared to a decrease of 0.5% when comparing the respective indices of the year 2020 with 2019, while in September 2021 the prices of materials also recorded an increase of 5.1%.
In particular, in October, price increases were recorded in: Diesel-Diesel (33.4%), Reinforcing Iron (20.5%), Electricity (18.8%), Copper pipes (16.3%), Copper pipes (14 , 3%), Radiators (8.2%), Bricks (6.4%), Plastic pipes (5.2%), Plastic pipes, synthetic, fiber cement (5.2%), Garage door mechanisms (4.4%) %), Safety glass (4.2%), Aluminum frames (3.7%), Interior doors (3.2%), Plastic, acrylic, water (2.5%), Building timber (2.2%) , Cement (2.3%) and ready-mixed concrete (2.4%).
Although no one can say for sure when the phenomenon of rapid rise in prices of building materials will begin to de-escalate, however, all the companies involved in real estate, appear particularly troubled, especially at a time when construction in recent months has started to get “ahead” and there is remarkable buying interest for both investment and home acquisition.
“Rising prices of raw materials combined with large increases in land prices have skyrocketed construction costs, creating a suffocating situation in the market, thus preventing domestic buyers.” This is pointed out to Capital.gr by the president of the Federation of Building Builders, Mr. Dimitris Kapsimalis, who mentioned the example of the sale of a plot of land whose price soon increased by 30%. “If we calculate the increase in construction costs, then we will have to put a” hat “on the price of the square, around 700 euros, the square”, he states characteristically.
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Source From: Capital
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