Construction costs could increase by 5-9% in H2 – survey
Construction costs could rise 5-9% nationally, but even more than 10% in Budapest in the second half of the year, the Hungarian construction industry association ÉVOSZ said on Wednesday based on a survey carried out with companies in the construction sector.
In January-May, the companies surveyed experienced unanticipated price increases in building materials and labor costs, which led them to raise their own prices.
In the first five months of the year, compared to the end of 2020, respondents reported a price increase of 9% for flooring, 11% for tiles, 12% for concrete, 23% for plasterboard components, 47% for insulation materials, and 72% for wood.
The average gross monthly salary of semi-skilled workers increased by 12% nationally and by 14% in Budapest. The wages of skilled workers also increased by 12% and 13%, respectively.
Engineering service providers increased prices by 8% county-wide and design firms 5%.
ÉVOSZ interviewed 400 companies, including very small businesses, SMEs and large companies.
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