Flood victims face higher costs for repairs due to rising construction material prices

[webfact]

 

Thailand’s home owners will have to pay an average of 100,000 baht to repair each house damaged by flooding this year, compared with 70,000-80,000 baht last year, due to increases in the prices of construction materials, according to Worawut Kanjanakul, president of the Home Builder Association.

 

He said that the prices of construction materials have increased by as much as 25% this year.

 

He noted that the increases may mean that home owners reduce the specifications of the materials to cut cost, but at the risk of their repaired houses being unsafe.

 

Full story: https://www.thaipbsworld.com/flood-victims-face-higher-costs-for-repairs-due-to-rising-construction-material-prices/

 

-- © Copyright Thai PBS 2022-10-27

 

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[hotchilli]

18 hours ago, webfact said:

He noted that the increases may mean that home owners reduce the specifications of the materials to cut cost, but at the risk of their repaired houses being unsafe.

No home insurance schemes then?

I guess insurance companies won't touch that with a barge pole.

[jacko45k]

1 minute ago, hotchilli said:

No home insurance schemes then?

I guess insurance companies won't touch that with a barge pole.

They will be paying even more after next years floods I expect. 

[Stargeezr]

Maybe like in a lot of countries, if you build in a known flood zone, you cannot get insurance.

  It would be interesting to find out if this also applies to Thailand.