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Article: Construction cost to soar this year
- Article from:
- New Straits Times
- Article date:
- January 19, 2008
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New Straits Times
01-19-2008
Construction cost to soar this year
Edition: Main/Lifestyle
Section: Property
Column: News
PRICES of building materials have surged the past year, causing construction cost to rise by 12 per cent in 2007 alone. All industry players are affected, but the small-timers are hardest hit, especially if they do not have the capacity to cushion such cost increases.
For this year, Master Builders Association Malaysia (MBAM) president Patrick Wong said construction cost is expected to rise 20 per cent, though if fuel prices go up, the hike may be 25 per cent.
The government raised the ceiling price ...