In April, construction costs for new housing rose 3.7% year-on-year, but were down 0.1 percentage points on March. These are the figures released earlier this week by the National Statistics Institute (INE).
The price of building materials rose by 1.2% and the cost of labor rose by 6.8% compared to the same period last year. The cost of labor contributed 3.0 percentage points (3.3 p.p. in the previous month) to the formation of the ICCHN's year-on-year rate of change and materials contributed 0.7 percentage points (0.5 p.p. in March), according to INE.
Among the materials that had the most positive influence on the aggregate price change were glass and mirrors, with a rise of around 20%, covering, insulation and waterproofing materials and sanitary ware, with a rise of around 10%.
In the opposite direction, wood and wood derivatives, mild steel and galvanized sheet metal stood out, with reductions of around 10%, and PVC pipes with around 5%.
According to INE, labor and materials both contributed 0.3 percentage points to the monthly rate of change in the ICCHN (0.4 p.p. and 0.0 p.p. in March respectively).
Image credits: © Tolu Olubode | Unsplash
Translated with DeepL.com (free version)
