The General Construction Cost Index increased in the fourth quarter of 2020 by 0.05%, compared to the previous quarter, as the prices of materials used in construction of buildings was increased by 0.08% due to the rise of the prices of Manufacturing by 0.10%.
The prices of construction costs increased by 0.05% for residential buildings as the prices of materials used in the construction of residential buildings increased by 0.08% due to the rise of the prices of Manufacturing by 0.11%.
The General Index of Construction Costs increased by 0.04% for non-residential buildings due to the rise of the prices of materials used in the construction of non-residential buildings by 0.07% as a result of the rise of the prices of Manufacturing by 0.10%.
Comparing the Construction Cost Index of the Fourth Quarter of 2020 with that of the Fourth Quarter of 2019, a drop of 1.44% of construction prices is noted as a result of drop of prices of materials used in the construction of buildings by 2.43% due to the drop of prices of Mining and Quarrying by 2.08% and Manufacturing by 2.45%.
The construction costs of residential buildings dropped by 1.50% due to the drop of prices of materials used in the construction of residential buildings by 2.46% as a result of the drop of the prices of Mining and Quarrying by 2.07% and Manufacturing by 2.49%.
The Construction Cost Index dropped by 1.23% for non-residential buildings due to the drop of the prices of materials used in the construction of non-residential buildings by 2.31% as a result of the drop of prices of Mining and Quarrying by 2.10% and Manufacturing by 2.32%.
Whereas the prices of Hiring of Equipment, Labour Wages and Other Costs were stabilized for all types of buildings since during 2020.