The Syrian regime attributed the rise in prices of the real estate and construction materials to the Russian invasion of Ukraine, according to Al-Watan daily.
The rocket-high rise in oil prices led to a rise in shipping costs globally by nearly 30% in addition to insurance costs, accompanied by fluctuations in the exchange rate on the black market during the past two weeks, which led to a rise in the prices of building and cladding materials.
Economic analyst Mohamed al-Jalali told Al-Watan that most of the cladding materials in Syria are imported materials, and its prices have risen with the start of the Russian military operation in Ukraine, and the exchange rate on the black market has risen by nearly 20 percent.
The price of a ton of iron has increased by up to 500,000 SYP ($140), and the price of a ton of iron has become A ton of 3.9 million SYP ($1000) , after it was about 3.4 million SYP (About $850), indicating that dealers of cladding materials are currently resorting to monopolize these materials and put them on the market in small quantities, as is the case with foodstuffs with the aim of selling them at an extra price.
As for the concrete, its components are locally produced materials and not imported materials. However, it increased by 5 percent, and the price of a cubic meter reached about 230,000 SYP, the expert says.
Syria stopped importing iron from Ukraine several years ago, and it imports it from Iran and Egypt. As for the cladding materials, most of them are imported from China and India.
($1=3900 SYP) in Syrian trading market
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