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Home construction costs in Hungary grow 2.5% in Q2

Sustainability

The cost of home construction in Hungary grew by 2.5% in the second quarter of the year, as compared to the same quarter a year earlier, with labor costs rising by 4.3% and the cost of materials growing by 1.9% in the period, according to data published today by the Central Statistical Office (KSH).

Prices of homes were practically flat during the second quarter, as compared to the corresponding period of 2015, and when adjusted for changes in the quality of the composition of homes sold, KSH data show, according to MTI. However, assuming the quality of the composition was unchanged from the base period, prices jumped 14.1%, MTI added. 

Full-year home construction costs rose 3.5% in 2015, accelerating from a 2.5% increase in the previous year, the KSH data suggests, as reported by MTI.

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