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Home building prices likely to increase 5%.

Bangkok Post (Bangkok, Thailand)

| July 05, 2005 | COPYRIGHT 2005 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Kanana Katharangsiporn

Jul. 5--The price of building a home is expected to rise at least 5 percent by the fourth quarter of the year as construction materials rise in cost, according to Pramote Teerakul, president of the Home Builders Association.

He said many builders had already raised their prices by 3-5 percent during the first quarter as the cost of construction materials rose by 4 percent, chiefly because of the rising price of diesel.

"Diesel prices are rising every day," Mr Pramote said. "We will have to make a new adjustment again by the end of the year. For now, we are absorbing the rising costs by cutting our margins around 2 ...

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Source: HighBeam Research, Home building prices likely to increase 5%.