Thursday, March 27, 2008

Romanian construction prices to increase by 15% in H1 '08 -construction entrepreneurs

BUDAPEST. MARCH 26. INTERFAX CENTRAL EUROPE - Construction prices are expected to increase by 15% in the first half of the year (H1) in Romania, due to the increase of electricity and main construction material prices, according to representatives of the Association of Construction Entrepreneurs in Romania (ARACO), Romanian news site reported.

"It is hard to evaluate the increase in construction prices by the end of the year, but if the price per sqm was EUR 600 to EUR 700 in the first half of 2007, now the construction price per built sqm exceeds EUR 800," Laurentiu Plosceanu, president of ARACO was quoted as saying.

According to ARACO, the price of cement rose by 12% since the beginning of the year, while the association expects the price of steel and concrete to increase by 10% by the end of 2008. Gas prices increased by 8.5% in February this year, with the outlook for an 8-to-12% increase in the second trimester of the year.

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