The prices of materials for the construction of new homes were noticeably higher in March as well, although at a rate that has slowed considerably from a year earlier.
In particular, as announced by ELSTAT, the General Price Index of Materials for the Construction of New Residential Buildings showed in March an increase of 5.9% compared to a year earlier, against the increase of 8.9% that had occurred in the corresponding comparison of March 2023 with 2022.
On a monthly basis, the General Index in March showed an increase of 0.4% compared to the February index, compared to an increase of 0.5% recorded in the corresponding comparison in 2023.
The average index for the twelve months April 2023 – March 2024, compared to the corresponding index for the twelve months April 2022 – March 2023, showed an increase of 6.6%, compared to an increase of 11.3% recorded when comparing the corresponding previous twelve months.
At the same time, according to ELSTAT, the General Price Index of New Residential Construction Project Categories for the first quarter of 2024 showed a 3% increase from last year, compared to a 5.6% increase that had occurred a year earlier.
The General Index during the first quarter of 2024, compared to the index of the fourth quarter of 2023, showed an increase of 0.8%, against an increase of 0.7% last year.
The average index for the twelve months April 2023 – March 2024 showed an increase of 3.4%, compared to an increase of 6.8% a year earlier.
The Price Index for the Construction of New Residential Buildings has increased
The General Price Index of Construction Costs of New Residential Buildings for the first quarter of 2024, compared to the corresponding index for the first quarter of 2023, showed an increase of 4%, against an increase of 8.1% noted during the corresponding comparison of the indicators of the year 2023 with in 2022. In particular, the annual increase of 4% is due to the increase of the Material Price Index by 5.9% and the increase of the Labor Remuneration Price Index by 2.1%.
The General Index during the first quarter of 2024, compared to the index of the fourth quarter of 2023, showed an increase of 0.6%, compared to an increase of 1.4% recorded during the corresponding comparison of the indicators of the year 2023 with 2022.
In particular, the quarterly increase of 0.6% is due to the increase of the Material Price Index by 1.9% and the non-change of the Labor Remuneration Price Index.
The average index for the twelve months April 2023 – March 2024, compared to the corresponding index for the twelve months April 2022 – March 2023, showed an increase of 5.2%, against an increase of 9.0% recorded in the corresponding previous twelve months.
