Construction costs for homes increased by 13.2% from December 2020 to December 2021. Material costs increased by 26.3% in the same period.
The costs for the construction of detached houses made of wood and apartment blocks rose by 16.9% and 7.6%, respectively, in this period, according to figures from Statistics Norway (SSB).
Material costs rose by 33.6% and 15% for detached houses and apartment blocks, respectively.
The increase is due to the fact that the prices of timber have risen sharply throughout almost 2021, reaching a peak in September.
Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance
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