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Construction Costs Surge Amid Global Pressures
Description
Construction costs in the Republic are soaring due to skyrocketing energy and material prices, fueled by EU environmental regulations and Middle East conflict, threatening to slash growth from last year’s peak to just 1.7%. Labor shortages—especially in electrical and mechanical trades—and near-full manufacturing capacity are crippling supply chains. Yet demand remains strong in energy, infrastructure, and high-tech sectors, keeping the market’s long-term outlook positive despite mounting global headwinds.
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