New Delhi, Nov. 25 -- : The year 2022 recorded an escalation in material costs due to curtailed production amid the pandemic and increased international shipping costs led by supply chain bottlenecks.

The overall construction cost of greenfield infrastructure projects increased by 5-7 per cent in the third quarter of 2022 (July-September), said leading real estate consulting firm CBRE South Asia in a report on Thursday.

The report examines the current market landscape and deliberates on factors influencing cost trends across key asset classes.

Labour costs increased by 8-10 per cent and reinforcement steel prices by about 20 per cent year-on-year during Q3 2022.

Looking ahead, the CBRE report said inflationary pressures are widely expec...