NewsLocalHome renovation costs on the rise, contractors have to re-evaluate charges

Home renovation costs on the rise, contractors have to re-evaluate charges

Ever-rising prices in construction material have sky-rocketed the cost for home renovations as well with contractors in Cyprus forced to re-evaluate what they charge, Philenews reported on Monday.

But the re-adjustment depends on what home owners want to do and what materials they wish to use, insiders also said.

Figures announced last week by the island’s Statistical Service indicate the prices’ state of play for those who want to do a partial or total lifting of their homes.

In October, the price index of construction materials registered an increase of 14.26% on an annual basis.

In the first ten months of the year, that is from January to October, the increase in the index was 18.30% compared to last year, showing that every new year the rise is even higher.

But what does this mean to those who want to renovate their home or apartment? Usually renovation take place in kitchens or in bathrooms and these include the cost of new sinks, bathtubs, tiles, water supply and drainage pipes, etc.

The main cost factors that will affect the final price are those of materials that the interested party will choose. As well as the reason behind the renovation, that is, if it is to repair damage or renew the specific space.

In every renovation, the square footage of the space and the quality of materials that will be needed play a major role.

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