Home construction cost up 3.5% in Thailand

Illustrative image (Photo: Internet)

Bangkok (VNA) - 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.

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

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

According to the REIC, the standard home construction price index in the first quarter of this year was 134.4, up 3.5% annually and 1.9% from the fourth quarter of 2022.

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