Building costs record rapid rise in first half of 2022

Commercial construction tender prices increased by 7.5% during the first six months of the year.

The national annual rate of construction price inflation is now standing at 14%, up from 13.4% in the previous report from the SCSI. Picture: Chris Ratcliffe/Bloomberg

Prices for commercial building have increased by 7.5% during the first six months of 2022, according to the latest Tender Price Index published by the Society of Chartered Surveyors Ireland (SCSI).

This is the highest six-month increase in prices recorded by the SCSI since price tracking of commercial construction inflation figures began in 1998.