Cost of hotel construction rises sharply


Construction expenses in Latvia increased by 20.7 percent in Q1 2008 year-on-year, the Central Statistical Bureau reports. Builders’ wages have grown by 41.3 percent, although the cost of construction materials has risen by only 3.1 percent. Over the year the construction of hotels has become 14 percent more expensive, though over the last three months 2.4 percent more expensive.

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