In the last two years one developer has said that cost has increased by 50%. Another developer as stated that last year he was building at around $1420 per sq mtr which is now $1800.00 per sq mtr and with what we are pricing and seeing in the market place at present we are finding it is any where between $2500 to $3000 per sq mtr.
One thing is for sure the cost of building is not coming down it is going up. Contractors are now required to have so much insurance policy’s in place and other costs involved in order to run their business that their cost has to increase to cover these requirements.
Also attached in the article is a further insight to the destruction that Fiji has just incurred and what will be needed to re instate people back into housing.
Both articles are worth a read.Aid workers mobilise as Fiji cleans up, tallies Cyclone Winston damage