Property News August 11, 2025
When it comes to construction costs, the focus often falls on the price per square metre for building a home. But official data from the Statistical Service shows striking differences in costs between residential, commercial, and hospitality buildings.
Hotels lead construction costs
According to the latest figures, hotels are the most expensive buildings to construct per square metre, followed by clinics and medical practices, with tourist apartments ranking third.
The 2025 Statistical Service report on the average cost per m² for privately developed buildings completed in 2023 — and in previous years — reveals clear trends. However, the figures aren’t absolute, as construction materials, luxury levels, and building purposes vary widely.
Why costs/m² vary between building types
The data comes from the annual Building Permits and Housing Survey, calculated by dividing the total construction cost by the total floor area for each building type. Small project numbers in some categories mean the data isn’t always fully representative. Factors like size, location, materials, and luxury level can vary greatly year-to-year, making direct comparisons difficult.
Importantly, these costs refer to projects completed in the survey year, regardless of when construction began or permits were issued.
What’s included in construction costs/m²
The construction cost per m² calculated by the Statistical Service covers:
- Architectural and engineering fees (civil, electrical, mechanical, energy performance)
- Urban planning and building permit fees
- Labour and building material expenses
- Main contractor service fees
- VAT (where applicable)
Land value is not included in these figures. Average construction costs/m² (2023 Data)
| Building Type | Average Cost €/m² |
| Hotels | €2,202 |
| Clinics & Medical Practices | €1,988 |
| Tourist Apartments | €1,775 |
| Restaurants | €1,651 |
| Educational Institutions | €1,306 |
| Houses | €1,214 |
| Flats | €1,075 |
| Industrial Buildings | €727 |
| Warehouses | €781 |
| Agricultural Buildings | €213 |
The real cost of building a house
While official figures are useful, they often underestimate real-world building prices. This is because they exclude developer profit margins and additional costs.
Construction professionals say that in 2025, the cost to build a house or apartment typically ranges from €1,700 to €2,500 per m², excluding the price of land.
