These are the figures revealed today by the National Statistics Institute, the construction costs of new housing increased by 5.9% in April, 1.3 percentage points (p.p.) more than in the previous month, while the price of materials and the cost of labour were 3.7% and 9.0%, respectively, year-on-year.
The estimated year-on-year change in the Construction Costs Index for New Housing (HNCI) in April was 5.9%, 1.3 p.p. higher than the rate recorded in March. Material prices increased by 3.7%, whereas they had gone up by 2.6% in the previous month. The cost of labour rose 9.0% (7.4% in March). According to the INE, this acceleration partly reflects the base effect linked to the cost reduction in April 2020.
INE also noted that labour costs contributed 3.7% to the formation of the year-on-year rate of change of the New Housing Construction Costs Index. The materials component contributed 2.2%.
The monthly change rate for the HNCI was 0.3% in April, the cost of materials increased by 0.8%, and the cost of labour decreased by 0.4%. Labour and materials contributed 0.5 and -0.2 percentage points respectively to the monthly change in the construction cost index of new housing.
