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Construction costs

Construction costs rose by 0.7% from March 2019 to July 2019. Material costs increased by approximately 1.2% in the same period.

Construction cost Q2 2019 - moderate development

Construction costs for wooden detached houses and apartment buildings increased by 0.7% from March 2019 to July 2019. From July 2018 to July 2019, both categories grew by 2.6%. Material costs for wooden detached houses and apartment buildings increased by 1.2% from March to July 2019 in both categories. For the period of July 2018 to July 2019, they increased by 2.7% and 3.1% respectively.

Over the past three years, construction costs for wooden detached houses and apartment buildings have risen by 7.2%.

Construction loan management

What guarantee can be made that the added value on the building site corresponds to that paid to the contractor?

The contractor will be able to invoice according to the work done on the construction site, as well as what the contractor believes forms the basis for the project. What financial guarantees are incumbent upon the developer for what is invoiced? Are they proportional to the values added?

As the largest appraiser in Norway, Newsec calculates added values at the construction site. Our verification report ensures that you get a clear picture of the progress and of the values added to the construction site. Consequently, banks, guarantors, financial institutions, developers etc. can have full control over the actual value added to the construction project at all times.

Newsec is a pre-qualified and preferred supplier with Norway's largest banks within the field of building credit verification. We are currently conducting verification assignments on projects valued over NOK 4 billion and are proud to provide building loan verification services to existing and new customers. Get in touch for more information.