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New Housing Construction Costs Up 1.6% in June

9 August 2018

Construction costs for new housing increased 1.6% in June compared to the same period last year, also increasing slightly (0.1%) compared to the previous month. The relevant data was just released by the National Statistics Institute (INE).

According to the INE, the slight year-on-year acceleration in construction costs was caused “by the 0.4% increase in the materials index, which reached 1.5% in June.” The labour costs index, in turn, rose by 1.7% (1.9% in May).

Year-on-year increases in the indices for flats and houses stood at 1.5% and 1.6%, respectively. According to INE, the regular maintenance and repair price index for housing also registered year-on-year growth of 1.3% in June.

Regionally, the INE noted that, in June, the Centre (1.7%) and the North (2.0%) posted gains above the average for continental Portugal (1.3%).

Original Story: Idealista

Photo: Milivoj Kuhar / Unsplash

Translation: Richard Turner