Drop in building materials prices yet to reflect in overall cost of housing – Building Contractor
Renowned building contractor, Mr. Emmanuel Boakye Fapem, says the cost of building materials is down but is yet to reflect in the overall cost of building a house.
According to him, consumers are yet to feel the real impact of the reduction in the cost of cement, chippings, iron rods and other building materials.
His comments come after the Government Statistician disclosed that the cost of building has reduced from 14 percent to 4 percent.
Speaking to OTEC News on Thursday, the CEO of Fapem Constructions acknowledged that prices of cement, iron rods and chippings have indeed gone down.
He however said food inflation, cost of fuel, labour and transportation have seen a surge.
This, according to him, has made it difficult for consumers in the building sector to feel the positive impact of the reduction.
He noted that builders are yet to see a real reduction in the overall cost of building in real terms.
Source: Ghana/otecfmghana.com/ Jacob Agyenim Boateng, Kumasi
