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Portugal Pulse: Portugal News / Expats Community / Turorial / Listing

Costs of new housing construction rise 4.8% in September

The year-on-year variation of the New Housing Construction Cost Index (ICCHN) was 4.8%, an increase of 1.1 percentage points compared to August, the National Institute of Statistics (INE) concluded.

The prices of materials showed a variation of 1.4%, up from 0.9% in August, and labor costs increased by 8.8%, up from 7% the previous month.

Among the materials that most influenced the price increase were glass and mirrors, with a rise of about 30%, and ready-mix concrete, which increased by about 5%.

In contrast, asphalt, soft and galvanized steel sheets, and PVC pipes stood out with decreases of around 5%.

On a chain-linked basis, the monthly variation rate of the ICCHN was 0.8% in September, 1.2 percentage points higher than the previous month, with the cost of materials rising 0.2% and labor costs 1.5%.

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