House construction costs in Portugal increased by 6.8% in July, according to data from the National Statistics Institute (INE). This value represents the year-on-year variation in costs associated with the construction of residential buildings in the country.
Construction materials recorded a price increase of 6.3%, a slight decrease compared to the 6.4% recorded in June. This component has been gradually slowing in recent months.
On the other hand, labor costs continued to rise more sharply, with an increase of 7.3% in July. However, this value represents a slowdown of 1.1 percentage points compared to the previous month.
INE data thus indicates that, although construction costs maintain a significant growth trajectory, there is a slight slowdown in both the materials and labor components.
