Building a new home costs 6.8% more than a year ago — and labour is the faster half
INE estimates that the cost of building new housing rose 6.8% year on year in July, 0.6 percentage points below the previous month's reading. Materials went up 6.3% and labour 7.3%. The slight easing does not reverse anything: it means the increase is slowing, not that building has become cheaper.
Why it matters for your move
If you are buying something that needs work, the renovation quote you collected in spring is already out of date — and the labour line moves faster than the materials line.
This is Re-locant.com’s own brief, written to explain what the update means for people moving to or living in Portugal. For the full original report, see the source below.