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Construction costs could rise by 5-9% in H2 - survey

Construction

Construction costs could rise by 5-9% nationally but by even more than 10% in Budapest in the second half of the year, Hungarian construction industry association ÉVOSZ said on Wednesday based on a survey of construction sector companies.

In January-May, the surveyed companies experienced unforeseen price increases for building materials and labor costs, which lead them to increase their own fees.

In the first five months of the year, compared to the end of 2020, respondents reported a 9% price increase for floor coverings, 11% for roof tiles, 12% for concrete, 23% for plasterboard components, 47% for insulation material, and 72% for wood.

The average gross monthly wage of semi-skilled workers rose by 12% nationally and by 14% in Budapest. The wages of skilled workers also increased by 12% and 13%, respectively.

Engineering service providers raised prices by 8% across the county and design companies by 5%.

ÉVOSZ surveyed 400 companies, among them micro firms, SMEs, and large companies.

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