A report published by the Kenya National National Bureau of Statistics (KNBS) for the close of 2023, indicates the price of building materials has increased as compared to the same time in 2022.
The report covering the fourth quarter of 2023, shows Kenyans were forced to cough up more to run their construction projects.
Some of the materials whose prices increased include cement, bitumen, mix, precoated chippings, hardcore, paving blocks, timber and steel reinforcement bars among others.
"The Building Cost Indices increased by 1.55 per cent from 114.74 per cent to 116.52 per cent," read part of the report.
In the period under review, the material indices increased by 2.09 per cent while the Transport, Fuels and Lubricants index recorded a 3.46 per cent increase.
Construction materials saw the highest increase in prices compared to previous years, affecting the multiple construction projects currently running in the government and private sectors.
However, offering relief for Kenyans, some materials recorded a decrease in cost over the research period. These were sand, damp proofing and anti-termite, tiles, hiring excavators, and kerbs.
Another report from the Architectural Association of Kenya (AAK) also raised the alarm over the soaring costs, forewarning that the high cost of materials would trickle down to the buyers and renters.
The skyrocketing prices of building materials come at a time when President William Ruto had embarked on the construction of affordable houses countrywide.
The increase was noted despite Ruto's promise to remove taxes on all building materials in a bid to aid the construction of his affordable housing project.
However, Ruto noted that he shall not remove taxes on imported household materials to encourage local production of the products.
"I am going to remove taxes on all building materials used in affordable housing so that they can be accessed at a cheap price," he announced.
