Company Balavari declares that construction has become more expensive from 12% to 50%. According to the founder of the company, Beso Tavberidze, this will also affect the sale prices of the apartments, and from the next month, within three months, the prices of the real estate for sale will begin to increase gradually by USD 50-60.
"The most painful blow for the construction sector is the price increase on the construction materials, which also caused construction cost growth. The price of fuel has also increased, which affects us and makes earthworks more expensive by 50%.
The price of imported goods has also increased, including elevators and cranes. All this adds up to the overall price." - noted Beso Tavberidze.
According to Geostat, the construction cost index in December 2022 increased by 2.2% compared to the previous month. The mentioned change was mainly due to the 10.6% increase in the average monthly nominal salary of the hired employees in the construction industry, which contributed 2.44 percentage points to the total index change. Also, according to Geostat, since February 2022, construction materials have become more expensive by 5.6%, and electricity, transportation and fuel costs - by 9.7%.
