Real estate sales rose by 1.3% in the first quarter of 2014 after two years of declines, national statistical agency Istat said Thursday. The agency said that both residential and commercial building sales improved.
Istat also reported that residential construction costs rose in August by 0.1% compared with one year earlier, driven by a jump in the costs of labour.
Costs of building a home rose by 0.2% in August compared with one month earlier, the agency said.
Istat noted that labour costs rose by 0.5% while prices for construction materials fell by 0.4% when compared with a base rate set in 2010.
The agency also reported a 5% rise in residential mortgages during the first three months of the year.
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