New housing construction costs rise 6.5% YoY in June
"In June, new housing construction costs are estimated to have increased by 6.5% year-on-year, up 0.4 percentage points from the previous month," Statistics Portugal (INE) announced.
New housing construction costs increased by 6.5% year-on-year in June, up 0.4 percentage points from the previous month, mainly due to the rise in material prices, according to Statistics Portugal (INE).
“In June, new housing construction costs are estimated to have increased by 6.5% year-on-year, up 0.4 percentage points from the previous month. This was due to the acceleration of 0.8% in material prices. The price of materials and labour costs both posted year-on-year changes of 6.5%,” the institute said in a statement.
According to INE, the monthly variation rate of the New Housing Construction Cost Index (NCHCI) was 1.0% in June, with the cost of materials having increased by 0.5% and the cost of labour by 1.7%.
“The labour and materials components contributed 0.3 and 0.7 p.p., respectively, to the formation of the monthly rate of change of the NCHCI,” the institute said.
