construction costs in residential buildings Although the upward trend that started in 2015 continues, the increases are moderate. According to the Direct Construction Cost Index published periodically by the construction company ACR, construction materials and labor will increase in the first half of 2023. They became only 2.8% more expensive on inter-year figurestaking into account the prices of construction materials and the labor required for their preparation and installation. This represents a slowdown compared to the beginning of the year, when increases were around 13%.
According to the authors of the index, the reason for the slowdown in increases in construction costs is ” recession The war in Ukraine, the normalization of supply chains and the decline in energy prices.” “These factors affect the prices of some raw materials such as steel, aluminum, copper or glass, and an adjustment is seen in these prices compared to the previous period. Accumulated price since 2022,” they explain.
This stability in construction costs will not translate into a decline, at least in the short and medium term. “Serious decreases in direct construction costs are not expected, but the data for the first half of 2023 reflects the stability that our industry has been waiting for a long time. allows us to eliminate uncertainties by helping us predict the behavior of prices. It is desirable that this be continued until the end of the year,” they state from ACR.
What will happen in the coming months Greatly affected by the state of the Chinese real estate market, one of the most important in the world. Excessive leverage has led giants like Evergrande to declare bankruptcy with debts exceeding $300 billion. The behavior of inflation in the European Union will also be affected, but for now it is starting to be controlled in Spain.
Which materials rise the most?
The product with the highest price increase in the first six months of 2021 wood carpentryHE Revalued by more than 10%; This is followed by suspended ceilings and coverings (9%), flooring (8%), lifting devices (8%) and excavation (7.5%). At the other extreme, the price of glass fell around 8.5% year-on-year, and the price of exterior carpentry fell around 4%.
Another expense is recovered “somewhat”According to ACR, laborafter remaining stable last year. “The shortage of qualified talent is a structural problem in this industry. For years, we have been an aging, masculinizing and unattractive industry for new generations. This makes labor one of the main factors that directly leads to increased construction costs,” concludes the study prepared by the construction company.