Rising construction material costs could put pressure on future housing prices

Construction firms say they are adapting to a new normal of elevated material and fuel costs after disruptions to global supply chains linked to the conflict in the Middle East. Companies warn that higher prices for concrete, cement, rebar and bitumen are eroding profit margins and could drive up future tender prices. While project delays remain limited, experts say prolonged cost pressures could eventually affect housing prices. Caitlin Ng reports.