The general category price index increased by 2.9% new construction projects of buildings of residences in the third quarter of this year compared to the corresponding index in the third quarter of 2023, against a 3.2% increase noted when comparing the corresponding indicators in 2023 to 2022.

At the same time, the general index showed an increase of 0.7% in the third quarter of 2024 compared to the indicator of the second quarter of 2024, while in the corresponding comparison of the indicators in 2023 there was also an increase of 0.7%.

The general price index of construction costs of new residential buildings presented 3.6% increase in the third quarter of 2024 compared to the corresponding index of the third quarter of 2023, compared to an increase of 5.6% noted during the corresponding comparison of the indices in 2023 with 2022. In particular, this annual increase is due to the increase in the material price index by 5.5% and in the increase in the wage price index by 1.9%.

At the same time, the general index showed an increase of 1% in the third quarter of 2024 compared to the index of the second quarter of 2024, against an increase of 1.1% noted during the corresponding comparison of the indices in 2023. Specifically, this quarterly increase is due to the increase in the material price index by 1.2 % and in the increase of the wage price index by 0.6%.

According to ELSTAT, the price index for categories of construction projects for new residential buildings (output index) shows the change in prices paid to the builders-contractors of the various individual sections of the construction of new residential buildings during the commissioning of the construction of the projects.

Whereas, the index of the total cost of construction of new residential buildings (input index) shows the evolution of the costs to which the builder of a standard construction (apartment house) is subjected and is calculated based on the prices of the materials and the labor remuneration he pays.