The prices of almost all the needs of citizens in Bosnia and Herzegovina (BiH) have risen significantly in the last few years, and among those that citizens complain about the most is the money that now needs to be set aside to buy an apartment or house.
We investigated why this is so, so we decided to hear the side of those who procure building materials and build apartments and houses.
Material prices
A Sarajevo company sent us the purchase prices they receive from bidders and, compared to those prices from 2019, it is clear that the materials have risen in price from 9 to as much as 89 percent.
The price of MB 30 concrete, without transportation, in 2019 was 111 BAM per cubic meter, and this year it is 135 BAM, which represents an increase of 22 percent.
Prices of works
The prices of works did not rise any less compared to the prices of materials. Thus, you will spend 10 BAM per square meter to save on ceramic tiles this year, while five years ago it was 3 BAM less. This represents an increase of 43 percent.
The most expensive thing is painting, for which you now have to spend 5.74 BAM per square meter, while before it was 3.45. That is an increase of as much as 66 percent. New ceramic tiles with procurement, transport and installation cost an average of 70 BAM per square meter now, and previously their cost was 60 BAM. That’s an increase of 17 percent. Installation of sanitary devices for a complete bathroom used to cost 400 BAM, and today it costs 600.
It should be noted that the prices of these works are based on average working conditions and average other factors that affect the price. Deviations can be more significant in relation to several factors, some of which are the location of the object being renovated, access to the object by vehicle, the floor on which the apartment or space is located, whether the building has an elevator or if the works are carried out in difficult conditions in the sense that protective equipment is required.
Construction of apartments and houses
This company gave us data on how much it cost them to build the last buildings or houses they worked on.
Thus, the construction of an apartment in a building with 24 to 60 apartments, including VAT, amounts to 2,384 BAM per square meter in 2024, which is 83 percent more than in 2019, when it was 1,306 BAM. The price does not include external decoration, rent costs, marketing and sales costs and electricity, water and gas connections.
When it comes to building a house of 100 to 150 square meters, the price per square meter this year is 2,100 BAM, while it was 1,330 BAM before. That’s an increase of 58 percent. The price does not include exterior decoration, rent costs, marketing costs, electricity, water and gas connections.
