In December 2023, construction costs for new residential buildings are estimated to have increased by 1.8% on a year-on-year basis, 0.6 percentage points less than in the previous month. The price of materials presented a variation of -2.2% while labor costs rose 7.5%.

In 2023 the construction costs for new residential buildings presented an average rate of 3.9%, 8.3 p.p. less than in 2022.