Construction industry hit by ‘scarcity of materials’: prices increase by up to 35%

Building companies have been facing price increases for raw materials to the point these are now affecting costs – and could actually inflate the prices of houses. Diário de Notícias explains this morning that issues ‘all began with Covid-19’. What seems to have happened is that at the start of the pandemic, industries throttled back on production believing there would be a fall in demand. Construction however never really ‘stopped’ during the pandemic, thus stock has been consumed and now that demand is maintaining, manufacturers cannot keep up with supply. Says DN, it is a global problem, seeing prices rise in some cases by as much as 35%.