According to the Hellenic Statistical Authority (ELSTAT), the Overall Material Costs Index in the Construction (CSTM) of New Residential Buildings showed a moderate upward trend in the first quarter of 2025. Specifically, the index increased by 0.7% compared to the fourth quarter of 2024, slightly below the 0.8% rise recorded in the same comparison a year earlier.
On an annual basis, the index rose by 3.5% in Q1 2025 compared to Q1 2024, down from the 4.0% increase observed in the corresponding period of the previous year. This annual growth is primarily attributed to a 4.0% increase in the Price Index of Materials and a 2.6% rise in the Price Index of Labour Compensation.
Quarter-on-quarter, the index registered a 0.5% increase, driven equally by a 0.5% rise in both material costs and labour compensation.
Furthermore, the average index for the twelve-month period from April 2024 to March 2025 recorded a 3.6% increase compared to the same period from April 2023 to March 2024. This reflects a deceleration from the 5.2% increase reported in the previous corresponding twelve-month period. Similarly, the general average index for the same period rose by 2.8%, down from a 3.4% increase a year earlier.
In summary, while construction costs continue to rise, the pace of this increase is showing signs of slowing, indicating a possible stabilization in the sector following previous periods of more intense inflationary pressures.
