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Home construction cost up 3.5% in Thailand

Sanitaryware price hikes led to a 3.5% increase in the standard home construction price index in the first quarter of this year amid higher fuel costs, according to the Real Estate Information Centre (REIC) of Thailand.
Home construction cost up 3.5% in Thailand ảnh 1Illustrative image (Photo: Internet)

Bangkok (VNA) - Sanitaryware price hikes led to a 3.5% increasein the standard home construction price index in the first quarter of this yearamid higher fuel costs, according to the Real Estate Information Centre (REIC)of Thailand.

Vichai Viratkapan, the REIC's Acting Director-General,said among all home construction materials, sanitaryware had the largest priceadjustment in the first quarter, up 13.2% year-on-year. This wasfollowed by wood and wooden products, which soared 13%, while tile pricesincreased 10.2%.

He added that the higher prices for constructionmaterials was likely because of high prices for fuel, which had a significantimpact on both production and transport costs.

According to the REIC, the standard home constructionprice index in the first quarter of this year was 134.4, up 3.5% annually and1.9% from the fourth quarter of 2022.

”The market should monitor changes in the prices of steel andconcrete products in the second quarter of this year as they are significantfactors in the standard home construction price index”, said Vichai./.

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