The real estate information center of Thailand found that construction prices had risen by 5.3% compared to the average of last year and by 3.9% compared to the fourth quarter of 2021.
The factor of the increase in the price index compared to the same period last year was the increase in salaries for all types of construction work.
Prices for building materials have also risen in almost all sectors. For example, prices for steel and metal products grew by 35% compared to last year. This was the result of rising oil prices, and also contributed to the fact that Ukraine and Russia are the world's largest sources of steel raw materials, and due to the current political situation, imports from these countries were suspended.
Metal products from Russia and Ukraine are about 14% of world exports. Russia ranks 3rd in the world in steel exports after China and Japan, and Ukraine ranks 8th in the world.
Prices for other construction materials and equipment also increased compared to last year: for wood products – by 4.6%, concrete – by 6.8%, sanitary products – by 12.7%, electrical and plumbing equipment – by 6.6%.
The information center informs that due to the rise in the cost of construction, housing prices will soon jump.