Construction costs rise 8.5% in November

In November, new housing construction costs increased by 8.5% compared to the same month of 2020, an acceleration of 1.2% compared to the rate observed in the previous month.

According to the New Housing Construction Cost Index now released by INE, the price of materials recorded the biggest rise, 9.4%, up from 8.9% in October, while the cost of labor -work increased by 7.3%, another acceleration compared to the 5.2% registered in the previous month.

In the chain variation, the rise in new housing construction costs was 1.6%. Material costs rose 0.8% from the previous month, and labor costs rose 2.8%

Source : Vida Imobiliária