Filenews 3 April 2023
At levels above €1,000 per sq.m. in 2021, the average cost per square meter of new homes was formed and prices are much steeper compared to the time of the real estate bubble when property prices began to rise. The data announced last week by the Statistical Service show that the increase is noticeable in several sectors of construction activity and is not taken into account in 2022, a year when construction costs increased significantly and translates into an additional burden on the square metre and therefore even more expensive to acquire a home. In 2021 the average cost per square metre for houses was €1.118, for apartments €1.043, for room additions €835. In practice, the figures of the Statistical Service show that for a house of 200 sq.m the construction cost in 2021 was €223.600 and for an apartment of 120 sq.m the average construction cost was €125.160. Nowadays these prices do not apply and it must be estimated that they are increased by about 15% to 20%.
The average construction cost per square meter for hotels is €1.140, for tourist apartments €1.061 and for restaurants increases to €2.062 per sq.m. For example, the average construction cost per square meter for educational institutions is €947, for clinics and clinics €646.
If we go back a year based on the data provided by the Statistical Service, the average cost for a house in 2020 was €1,059, while in 2010, when there was overheating in real estate, the average construction price was €946. The construction of an apartment is slightly lower and the price per sq.m is estimated at €992, while in 2010 it was €807 per sq.m. Where there is a big difference downwards in 2020 is in the cost of construction of tourist infrastructure and especially hotel units. Specifically, the average construction cost in 2020 was €1,179, while a year ago it was €1,746. In 2010, the average cost of construction of a hotel unit was €1,113 while in 2000 it was €1,060, highlighting the large increases that have occurred in recent years in hotel construction activity.
If someone wanted to build tourist apartments, the Statistical Service has calculated that the average construction cost was €1,427 in 2020, while a year ago 1,211 and in 2018 at €977. In 2020 the cost of building restaurants was €1.264 from €1.081 per sq.m in 2019. And compared to €1,501 in 2018. For clinics and laboratories the average cost was €1,195 in 2020, for educational institutions €813 and for churches €1,576 per sqm. The average area (square meters) for a new home in 2021 was 186 sq.m compared to 184 sq.m in 2020 and 189 sq.m in 2019. The new homes filled were 7,357 in 2021, in 2020 they were 6,351 and in 2019 at 4,420.
