According to the news issued by the Deputy Minister of Housing and Local Government, factors such as rising costs, shortages of raw materials, increased logistics costs and credit terms have led to rising construction material prices, and domestic construction costs will increase by 5% to 13% in April.
Various domestic building materials have risen wildly in the past year. It is estimated that the overall building materials have risen by 20%, and it is expected that prices will rise again in April.
It is understood that among many building materials, the price of aluminum has risen the most, up 55% compared with 2020. Lumber jumped 52%, steel 38% and cement 19%.
The increase in the price of building materials is expected to lead to a rise in house prices. The cost of building materials accounts for 60% to 70% of the total cost, and the remaining 30% to 40% belongs to labor, machinery and other costs.
The Russian-Ukrainian war has not been resolved for a long time, coupled with the intensification of economic sanctions against Russia by Europe and the United States, it is widely expected that a new wave of price increases will occur in the second half of this year, with prices for various daily necessities, food and materials will increase.
