The prices of construction materials fell by 1.7% in this period, although there is instability regarding their future evolution generated by the war in Ukraine and the conflict in the Middle East.

“In September, the year-on-year variation in the New Housing Construction Cost Index (ICCHN) stood at 2.1%, a rate lower by 0.3 p.p. than that observed in August”, reveals INE and reported by idealista.

This increase in the costs of building new housing in Portugal is explained by the increase in labour costs, explains the Portuguese statistics office.