The latest Construction Price Index report from Statistics Mauritius highlights key trends for the second quarter of 2024. This index, which measures fluctuations in the costs of materials, labour, and other inputs for construction, is a valuable indicator for investors and property professionals in Mauritius.
The Construction Price Index rose from 136.7 in the first quarter of 2024 to 137.3 in the second quarter, representing a 0.4% increase. This rise was primarily driven by a 0.7% increase in the materials sub-index.
In April 2024, the prices of ready-mix concrete increased by 0.9%, and those of tiles and granite by 1.9%. In May, there was a 4.1% increase in the prices of hardcore, 0.4% in aggregate, and 0.3% in steel bars, although this was partially offset by a 0.5% decrease in the prices of tiles and granite. In June, the prices of timber increased by 2.6%, partially offset by a 0.3% decrease in the prices of steel bars.
These increases indicate to developers and builders the need to adjust their budgets and pricing strategies. For investors, understanding these trends is crucial for assessing the financial viability of new real estate projects in Mauritius.
