Construction Costs in Greece Keep Climbing, Despite Signs of Slowing

11:42 26/4/2025 - Πηγή: Dikaiologitika

One exception to the inflationary trend was diesel fuel, which dropped by 7.3% year-on-year, offering a rare reprieve amid otherwise rising costs.

Construction material prices in Greece continued their upward march in March 2025, according to newly released figures from the Hellenic Statistical Authority (ELSTAT). The General Price Index

for materials used in new residential buildings rose by 3.7% compared to the same month in 2024, reaching 129.1 points, based on 2021 prices.

Although still high, the annual increase marks a slowdown from March 2024, when prices had surged by 5.9% year-on-year. On a month-to-month basis, prices rose more modestly—by just 0.2% compared to February 2025.

Over the 12-month period from April 2024 to March 2025, the average index climbed by 5.1%, down from a 6.6% rise in the previous year. This suggests a general deceleration in cost growth, though prices continue to trend upward overall.

The most significant increases were recorded in key building materials. Electricity prices jumped 10.4% year-on-year, followed by plastic piping (up 8.4%), heating radiators (8.2%), copper conductors (8.0%), and bricks (6.9%). Other construction essentials—such as ready-mixed concrete, aluminum window frames, ceramic tiles, and paint supplies—also saw notable increases.

One exception to the inflationary trend was diesel fuel, which dropped by 7.3% year-on-year, offering a rare reprieve amid otherwise rising costs.

Between February and March 2025, monthly price movements showed smaller increases across most materials, with bricks up 0.9% and marble tiles rising by 0.5%. Diesel continued its downward trend with a 2.9% monthly drop.

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