Building Materials Account For 65% of Rising Construction Costs—Surveyor

A Quantity Surveyor with Anchor University, Lagos, Adekunle Ebenezer, has disclosed that building materials account for 50-65 per cent of rising construction costs.

Ebenezer, who spoke in Lagos, said that with the current surge in prices, developers will inevitably pass on the costs to buyers.

He also expressed concerns about the growing stock of unsustainable buildings in Nigeria, citing the need for a more holistic approach to building material selection.

“Once the cost of building materials goes up, the construction cost will also increase. Investors and developers are mindful of their capital and profit, and they want to recover it within a short time frame.

“Therefore, the rental and sales prices will be high. Choices of building materials should not be based on economic factors only. We need to consider the interplay of environmental and social factors also”, Ebenezer said.

He noted that sustainable building materials with low carbon emissions are often imported, making them expensive due to high importation costs.

“Additionally, the lack of adequate knowledge and technology, combined with the current energy crisis, makes it challenging to produce sustainable building materials locally.

“Property owners may continue to use the available alternatives they can afford, which may not necessarily be of acceptable standards or quality,” he added.

Ebenezer, however, warned that the trend could lead to a proliferation of substandard housing units, exacerbating the country’s housing challenges.

Building Materials Account For 65% of Rising Construction Costs—Surveyor is first published on The Whistler Newspaper