Hotel construction witnesses biggest fall in costs in Q1

Construction costs decreased by 3.5 percent on average in the first quarter of 2009 compared to the same period in 2008. The biggest fall in construction costs was seen in hotels (7.5 percent) and residential houses (7.1 percent). Normunds Stals, chairman of the board of the construction company RRB Celtnieciba, acknowledged that the trend was influenced to great extent by the contraction of workers’ salaries.

 

Dienas Bizness, 2009-05-11