The general construction cost index recorded a decrease of 0.64% during the third quarter of 2020 compared to the second quarter of 2020. It has been shown that the construction cost prices decreased by 0.67% for residential buildings and decreased by 0.52% for non-residential buildings.
Also, comparing the construction cost indices during the third quarter of 2020 to the third quarter of 2019, we notice a decrease in construction costs by 2.11%; as construction costs for residential buildings decreased by 2.20% and for non-residential buildings by 1.80%.
| Quarterly records of construction costs (2012= 100)
(The third Quarter of 2019 - The third Quarter of 2020)
| Movement of construction costs during the third quarter of 2020 compared to the secondquarter of 2020
The general index of construction costs recorded a decrease of 0.64% compared to the second quarter of 2020, due to the decrease in the prices of raw materials and materials used in construction by 1.08%, the decrease of which came as a result of the decrease in the prices of the transformative industry category by 1.11% and the mining and quarrying category by 0.57%.
Moreover, construction costs decreased by 0.67% for residential buildings as a result of the decrease in the prices of raw materials and materials used in the construction of residential buildings by 1.11%, which decreased due to the decrease in the prices of the transformative industry category by 1.14% and the mining and quarrying category by 0.57%.
In addition, construction costs decreased by 0.52% for non-residential buildings as the prices of raw materials and materials used in the construction of non-residential buildings decreased by 0.98%, which decreased due to the decrease in the prices of the transformative industry category by 1.00% and the mining and quarrying category by 0.58%.
| Movement of construction costs during the thirdquarter of 2020 compared to the thirdquarter of 2019
On an annual basis, the general index of construction costs recorded a decrease of 2.11% due to the decrease in the prices of raw materials and materials used in construction by 3.55%; which decrease came as a result of the decrease in the prices of both the transformative industry category by 3.55% and the mining and quarrying category by 3.47%.
Moreover, construction costs decreased by 2.20% for residential buildings as a result of the decrease in the prices of raw materials and materials used in the construction of residential buildings by 3.59%, which decreased due to the decrease in the prices of the transformative industry category by 3.60% and the mining and quarrying category by 3.46%.
Also, construction costs decreased by 1.80% for non-residential buildings, as the prices of raw materials and materials used in the construction of non-residential buildings decreased by 3.37%, which decreased due to the decrease in the prices of both the mining and quarrying category by 3.48% and the transformative industry category by 3.37%.
Meanwhile, the prices of the wages, equipment, labor and other costs category have remained stable for all types of buildings since the third quarter of 2019.