The price of building materials has increased, while at the present stage there is stabilization, the President of the Association of Building Contractors, Stelios Gavriil, said on the SIGMA show "Protoselido".
As he said, there is stabilization after the rapid increase in the price of materials that occurred 2 years ago, while the problem was aggravated by the war in Ukraine.
He noted that there is a huge increase in the total cost of construction, which exceeds 30%.
For example, for a house of 200 square meters, there is an additional cost of 25.000 euros.
This is compounded by rising interest rates and changing first home VAT legislation.
But he pointed out that the real estate market is resisting and there have been several sales of houses and apartments.
However, a recession is expected in 2023.