Construction costs up 13.4% in September

Construction costs in Portugal increased 13.4% overall in September in like-for-like terms, the equivalent of an increase of over 0.9% on August.

According to Portugal’s National Statistics Institute, the price of materials saw a like-for-like variation of 18.6%. Among the materials that have most influenced this variation are ceramic products with a like-for-like increase in prices of 80%.
Diesel, cement, steel, aggregates, cork tiles, and woods and wood derivatives, carpentry materials, PVC tubes and energy have all seen a 20% increase like-for-like.
There was also an increase in the cost of manpower of 6.1% for the period under analysis, compared to 6.8% registered in August.
The Index of New Housing Construction Costs monthly variation rate was 0.9% in September, while the cost of materials increased 1.6% and the cost of manpower fell 0.3% according to data from the INE.