Wednesday, 13:15, 28/04/2021
Local construction firms face the risk of bankruptcy as the price of steel has soared 40% recently.
The price of construction steel is now nearly VND19,000 per kg and with the material accounting for about 28% of the building cost for an apartment and 35% of the cost of a semi-detached house, insiders said construction costs had soared.
Nguyen The Diep, Chairman of the Board of Directors of Hung Thinh Phat Investment Group, said, With urban areas, condominiums, iron and steel account for a relatively large proportion of the product prices so house prices will definitely be higher in the near future.