naphtha (petrochemical feedstock)

shínǎoyóu

石脑油

shortage

duǎnquē

短缺

to push up / to drive up

tuīgāo

推高

building material costs

jiàncái

建材

cost

chéngběn

成本

，

Japan

Rìběn

日本

residential housing

zhùzhái

住宅

homebuilders / construction firms

jiànshāng

建商

to announce

xuānbù

宣布

to raise prices

tí jià

提价

。

New Words

News in English

Japan Homebuilders Plan Price Hikes as Naphtha Shortage Drives Up Pipe and Paint Costs

Multiple Japanese homebuilders have announced plans to raise housing prices after naphtha shortages caused by the Hormuz crisis sharply increased the cost of pipes, paint, and other key construction materials.

Due to tight naphtha supply, multiple Japanese residential construction companies have announced plans to increase housing prices. Naphtha shortage has caused procurement costs for pipes and paint to surge sharply. Construction companies stated these material price increases have far exceeded any previous period. Some construction companies have already suspended new project contract signings, waiting for raw material supply to return to normal. Because materials failed to arrive, some construction projects had to stop mid-way. Industry insiders predict that if this situation continues, newly built home prices will see across-the-board increases.

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