Price of building materials in Norway to increase by up to 20% from April

Maxbo StormarkedPhoto: Bjørn Sigurdsøn / NTB

Construction material chains warn that construction material can become up to 20% more expensive during the spring. The industry blames the war in Ukraine.

“The market will probably reach the highest price level we have seen in the last five years,” Pål Erichsen in Optimera – Norway’s largest player in sales and distribution of building materials, lumber, and interior – told Norwegian Broadcasting (NRK).

The company, which has around 140 Montér stores in Norway, has announced price changes from April 1, 2022.

War in Ukraine

“For over two years, we have had a strong market with high international demand, and on top of this, there are the challenges related to the war in Ukraine,” Erichsen said.

The war has led to the stop of purchases of goods from Russia and Belarus, which are major producers of lumber and wood-based products.

“Then, these must be obtained from other markets. There will be a greater demand, and the price may increase,” Erichsen said.

In addition, goods produced using significant amounts of energy will be affected by high energy prices. Erichsen assumes that this will result in a price increase for insulation products and plasterboard.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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