Building materials and gasoline prices have risen by more than 30%, and real estate prices are expected to rise by 10%!
Building materials and oil prices have soared, causing real estate prices to rise as well!
It is well acknowledged that as the world recovers, demand for various building materials has increased dramatically. The international crude oil price has soared as a result of the ongoing conflict between Russia and Ukraine, resulting in a more than 30% increase in building materials prices.
This year, the cost of iron bars for construction has climbed by more than 30%, the cost of stone has increased by more than 20%, the cost of wood and cement has increased by more than 10%, and the cost of metal products has continued to rise.
Developers have no choice but to pass on the expense of rising building materials to consumers. Real estate prices are predicted to rise by at least 10% in the coming years, with the growth becoming more significant in the future. The price of those properties that have been contracted cannot be adjusted, and the developer is solely responsible for them.
In terms of the new real estate plan’s price, it will skyrocket, and friends who wish to buy a home soon should psychologically prepare themselves.
