{"id":2739,"date":"2023-11-15T10:00:00","date_gmt":"2023-11-15T09:00:00","guid":{"rendered":"https:\/\/www.lf91.comarticulos\/mallorca-market-report-1q-2023\/"},"modified":"2026-10-22T06:57:00","modified_gmt":"2026-10-22T04:57:00","slug":"mallorca-market-report-1q-2023","status":"publish","type":"article","link":"https:\/\/www.lf91.com\/en\/articles\/mallorca-market-report-1q-2023\/","title":{"rendered":"Construction costs in Mallorca, trends in Q1 2023"},"content":{"rendered":"

This newsletter aims to provide a brief overview of the evolution of the cost<\/strong> due to the increasingly challenging energy cost<\/strong> and elevated inflation<\/strong>. This leads to a change of construction material rates for the upcoming year<\/strong>.<\/p>\n

Starting with a general overview, the Spanish gross domestic product by the end of 2022 was still in a growth despite that the inflation was still increasing a 0.1% according to the INE (National Institute of Statistics). Raw materials in general had an increase of more than a 30%<\/strong> since the start of the Covid pandemic, according to the INE institute.<\/p>\n

The RICS institute advised that the growth of the residential construction sector is still in growth but the expectations of that are slowly less generous.<\/p>\n

Mallorca construction industry<\/h2>\n

The real estate industry<\/strong> on the island provides 20% of GDP<\/strong>. Now the sector faces some challenges as now there is a high demand of qualified labour due to the increasing demand of luxury residential projects<\/strong> and at the same time the lack of raw materials globally and from the mainland.<\/p>\n

Construction materials<\/h3>\n

This past year the construction costs<\/strong> had an increase of the 30%<\/strong> according to the INE (National Institute of Statistics) due to the constant increase of the raw materials<\/strong>, the war<\/strong> and other items<\/strong>, the steel materials<\/strong> had an increase at the Spanish market around the 50%, the wood 39.6%, the ceramics 39.6% and the oil 52.8%<\/strong>.<\/p>\n

Here, locally in Mallorca<\/strong>, we have been advised from the different supply companies that materials such as +10% on prefab materials<\/strong>, +13% on plaster walls<\/strong> and insulation, +11% on concrete<\/strong>, all of this as an average and depending on the constructive solution. This can be extrapolated to the other construction materials.<\/p>\n

As this year is starting we expect it to be challenging at the same time as interesting due to the number of projects<\/a> that we are facing all over the island in Pollen\u00e7a, Alc\u00fadia, Manacor and Palma.<\/p>\n

See our cost control service.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A look at rising material and labour costs in Mallorca’s construction sector in the first quarter of 2023, based on INE data.<\/p>\n","protected":false},"featured_media":4510,"menu_order":384,"template":"","article_category":[],"class_list":["post-2739","article","type-article","status-publish","has-post-thumbnail","hentry"],"acf":{"featured_in_articles":false,"legacy_id":312,"legacy_tipo":100,"legacy_subtipo":"20","titulo":"Mallorca Market Report 1Q 2023","subtitulo":"Construction cost trends in Mallorca, first quarter of 2023","contenido_1":"

\r\n\tThis newsletter aims to provide a brief overview of the evolution of the cost<\/strong> due to the increasingly challenging energy cost <\/strong>and elevated inflation<\/strong>. This leads to a change of construction material rates for the upcoming year<\/strong>.<\/p>\r\n

\r\n\tStarting with a general overview, the Spanish gross domestic product by the end of 2022 was still in a growth despite that the inflation was still increasing a 0.1% according to the INE (National Institute of Statistics). Raw materials in general had an increase of more than a 30% since the start of the Covid pandemic, according to the INE institute. The RICS institute advised that the the growth of the residential construction sector is still in growth but the expectations of that are slowly less generously<\/p>\r\n

\r\n\tMallorca construction industry<\/h2>\r\n

\r\n\tThe real estate industry at the island provides provide 20% of the PIB<\/strong>. Now the sector faces some challenges as now there is a high demand of qualified labour due to the increasing demand of luxury residential projects<\/strong> and at the same time the lack of raw materials globally and from the main land.<\/p>\r\n

\r\n\tConstruction materials<\/h2>\r\n

\r\n\tThis past year the construction costs had an increase of the 30% according to the INE<\/strong> (National institute of statistics) due to the constant increase of the raw materials, the war and other items the siderurgyc materials had an increase at the spanish market around the 50%<\/strong>, the wood 39,6%<\/strong> , the ceramics the 39,6%<\/strong> and the oil a 52,8%<\/strong>.<\/p>\r\n

\r\n\tHere, locally in Majorca<\/strong>, we have been advised from the different supply companies that materials such as +10% on prefab materials<\/strong>, +13% on plaster walls and insulation, +11 on concrete<\/strong>, all of this as an average and depending on the constructive solution. This can be extrapolable to the other construction materials.<\/p>\r\n

\r\n\tAs this year is starting we expect it to be challenging as the same time as interesting due to the number of projects<\/a> that we are facing all over the island in Pollença, Alcudia, Manacor and Palma.<\/p>\r\n

\r\n\tSee our cost control service.<\/a><\/p>","contenido_2":"","contenido_adicional":"","imagen_principal":"","imagen_secundaria":4510,"galeria":[],"video":"","pdfs":null,"orden":384,"referencia":"","stars":5,"related_services":null,"seo_title":"Mallorca Construction Costs, 1Q 2023 Report | LF91","seo_description":"Steel, wood, ceramics and concrete: how construction material costs rose, with INE figures and estimates from Mallorca suppliers. Read the report.","seo_keywords":"construction costs Mallorca, building material prices, construction labour Mallorca, Mallorca market report 2023","old_url_es":"","old_url_en":"","old_url_de":""},"_links":{"self":[{"href":"https:\/\/www.lf91.com\/en\/wp-json\/wp\/v2\/article\/2739","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lf91.com\/en\/wp-json\/wp\/v2\/article"}],"about":[{"href":"https:\/\/www.lf91.com\/en\/wp-json\/wp\/v2\/types\/article"}],"version-history":[{"count":3,"href":"https:\/\/www.lf91.com\/en\/wp-json\/wp\/v2\/article\/2739\/revisions"}],"predecessor-version":[{"id":8331,"href":"https:\/\/www.lf91.com\/en\/wp-json\/wp\/v2\/article\/2739\/revisions\/8331"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lf91.com\/en\/wp-json\/wp\/v2\/media\/4510"}],"wp:attachment":[{"href":"https:\/\/www.lf91.com\/en\/wp-json\/wp\/v2\/media?parent=2739"}],"wp:term":[{"taxonomy":"article_category","embeddable":true,"href":"https:\/\/www.lf91.com\/en\/wp-json\/wp\/v2\/article_category?post=2739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}