The construction of the house increased by2.3%

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"According to the latest estimates from the National Institute of Statistics (INE), in July of this year, the cost of new residential construction increased by2.3% compared to the same month last year. Year on year, the change in the index of the cost of new residential construction (ICCHN) was2.3%, which is0.5 percentage points lower than in June. Material prices showed a -1.5% change (-0.7% in the previous month), while labor costs increased by7.7%, which is0.2 percentage points less than in June," reads the bulletin published by INE."

The Institute states that "labor costs accounted for3.2 percentage points (same as in the previous month) in shaping the annual variability of ICCHN, while materials accounted for -0.9 percentage points (-0.4 percentage points in June)"

According to INE, "among the materials that had the most negative impact on the overall price change, soft and galvanized steel and bitumen should be highlighted, which showed a decrease of about 25% compared to last year, as well as energy products, concrete steel, heavy and light profiles, and cladding, insulation and waterproofing materials, all with a reduction of around 15%." "In the opposite direction, cement, ready-mixed concrete, as well as paints, primers, and varnishes are noted for their stable growth of about 10% year on year."

Regarding the chain variation, INE notes that the monthly variation of ICCHN was 0.3% in July, which is 0.3 percentage points higher compared to the previous month, with material costs increasing by 0.2% and labor costs by 0.4%.

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