How much does it cost to build a new house in Portugal?

According to the latest estimates from the National Statistical Institute (INE), the cost of new residential construction rose by 2.5% in August compared to the same month last year. This figure exceeds the year-on-year data recorded in July (2.1%) and is lower than in June (2.9%). A year ago, in August 2022, the annual change in the index of the cost of new housing construction (ICCHN) was much higher at 12.2%.

"In August, the annual variation of the new housing construction cost index (ICCHN) was 2.5%, which is 0.4 percentage points higher than in July.

According to the institute, the cost of labor amounted to 2.9 percentage points (3.0 percentage points in the previous month) relative to the annual change in the ICCHN index, while materials accounted for minus 0.4 percentage points (minus 0.9 percentage points in July).

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