Prepare for more expensive prices when building or renovating in Hungary

Construction costs could rise by 5-9 percent nationally but by even more than 10 percent in Budapest in the second half of the year, Hungarian construction industry association ÉVOSZ said on Wednesday based on a survey of construction sector companies.

In January-May the surveyed companies experienced unforeseen price increases for building materials and labour costs, which lead them to increase their own fees.

In the first five months of the year, compared to the end of 2020, respondents reported a 9 percent price increase for floor coverings, 11 percent for roof tiles, 12 percent for concrete, 23 percent for plasterboard components, 47 percent for insulation material, and 72 percent for wood.

The average gross monthly wage of semi-skilled workers rose by 12 percent nationally and by 14 percent in Budapest.

The wages of skilled workers also increased by 12 percent and 13 percent, respectively.

Engineering service providers raised prices by 8 percent across the county and design companies by 5 percent.

ÉVOSZ surveyed 400 companies, among them micro firms, SMEs and large companies.

Read alsoHungarian construction sector halted?

Source: MTI