Steel.
Twisted steel price for D8 reinforcement bar was kes 400 in 2014. Current[2021] price for the same D8 is kes 550.
This represents a 37.5% increase for the last 7 years, around 5% increase per year.
Mabati.
Steel roofing mabati sheet prices for gauge 32 , 2meter long , was selling at kes 400 in 2014. Current price[2021] is kes 680. This represents a 70% increase during the last 7 years, working out to a 10% annual increase.
These increases are in tandem with Kenya’s inflation rate of between 5 to 10% per year.
The last 1 years has had a higher inflation rate due to effects of COVID 19 on the global economic environment.
Last year[2020], inflation rate in Kenya rose to circa 6% from lows of 4% in previous years and has now stabilised to 5.7% currently. Source https://www.centralbank.go.ke/inflation-rates/
Construction cost.
Construction costs will also follow the same rates in increase. The cost estimates for low cost housing 7 years ago are now obsolete. The cost estimates for high class housing 7 years ago are now for middle class housing. The cost estimation for middle class housing is now for low cost housing.
The rate of inflation helps to give a good estimation of what cost of construction will be like in the coming years.
Architect Francis Gichuhi Kamau.
gichuhi@a4architect.com
0721410684
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