Construction Costs up 20% in Q1

Construction

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As a result of rising material and labor costs, housing construction costs increased by 21% in the first quarter compared to Q1 2022, according to data from the Central Statistical Office (KSH).

A similar price increase (nearly 22%) was measured in the last quarter of last year. 

In 2022, the price increase was around 20% or more in every quarter compared to the same period of the previous year. 

Thus, last year, the annual cost increase exceeded 21% compared to 2021. 

It cost 40% more to build an apartment and family house in 2022 than in 2020, and costs have more than doubled since 2015, according to an analysis by ingatlannet.hu

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