In December 2024, construction costs for new residential buildings are estimated to have increased by 4.3% on a year-on-year basis, 0.9 percentage points higher than the previous month. The price of materials presented a variation of 0.9% while labor costs rose 8.6%.

In 2024 the construction costs for new residential buildings presented an average rate of 3.3%, 0.6 p.p. less than in 2023. Labor costs rose 8.1% when compared with the previous year, while material prices decreased 0.3%.