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Ireland's construction tender prices dropped further to 1999 levels in the first half of 2009, a report by the Society of Chartered Surveyors said on Monday.
The construction tender prices fell 10.5% during the first half of the year and it dropped by 17.3% over the past 12 months.
The decline in tender prices was mainly due to fall in all sectors of the construction industry including residential, commercial, public sector and civil engineering, the report said.
The President of the Society of Chartered Surveyors, Ken Cribbin said, " The current low prices provided the government with an excellent opportunity to roll out key infrastructural projects while at the same time securing jobs and retaining skills within the construction sector."
"Tender prices have declined by 23% since reaching their peak in the first half of 2007.", he added.
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