Material costs main obstruction in construction activity in HK: survey
About 78% of those surveyed said they are also having access issues to materials.
Increasing material costs have been the main obstruction in the construction activity in Hong Kong, according to 67% of those surveyed by RICS in its latest Global Construction Monitor.
Accessing materials has been likewise a problem for 78% of those who belong in the construction sector.
Apart from material costs, workers also cited supply chain issues, financial constraints, and labour shortages as challenges impeding activity in the sector.
despite these challenges, the sector remains optimistic about the coming year ahead, with 37% anticipating a rise in workloads for the year.
In Q1 2022, 8% of respondents reported a slowdown in workloads, whilst 9% cited a subdued workload in infrastructure.