Increases in construction cost prices

Today, the cost of building a building has reached between 2,500 - 3,000 euros per square meter.

According to ELSTAT data, the average price index of construction materials for the twelve months January 2023 – December 2023 showed a 7.6% increase compared to the corresponding index of 2022, compared to an 11% increase noted when comparing the corresponding previous twelve months .

Agents of the real estate market, speaking to OT, report that about 3 years ago, when the builders started the procedures for issuing building permits to build a building, they had budgeted that the square meter would cost them around 1,300 euros.

Today, after the big increases in all construction materials, the cost of building a building has reached between 2,500 - 3,000 euros per square meter.

The cost of renovations is correspondingly high, recording unrealistic increases of 50-60% per square meter compared to pre-pandemic levels.