The price of construction materials reach record levels
There can be an accelerated increase in the prices of construction materials, both due to the increase in the price of raw materials and energy costs and due to the growing demand in the Romanian Real Estate market.
This credit of 24-28% of the price of construction materials is directly and immediately reflected in the increase in prices of new apartments, which entails an increase in prices of old apartments.
Given that the square meter built has reached an average of 620 Euros, we can see here an increase compared to last year by almost 18 percent and is constantly growing.
The construction workforce is increasingly difficult to obtain and especially the skilled workforce.
There is an acute shortage of foremen and construction engineers, construction companies make great efforts to retain their teams of workers and more recently proceed massively in bringing labor from Asian countries, much cheaper and more docile labor.
Globally, the price of apartments has already exceeded 1440 euros per usable square meter, a significant increase compared to 2020, by almost 1 percent.
Currently, real estate developers are trying to find solutions to optimize and compensate for the rise in prices of building materials in such a way that neither the prices of apartments do not increase much, nor their profit does not decrease significantly.
Ultimately, supply and demand is what will decide the right price in the Romanian Real Estate market in the future.
If we look across the border, we see that Hungary has intervened in stopping the rise in prices of construction materials.
We can expect that in Romania, the Government will take certain similar measures to protect the end customer.
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Prenume & Nume
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