Building costs rose by 6.4 per cent in February year-on-year

release 16/03/2023 | Building cost index 2023, February

According to Statistics Finland, building costs rose by 6.4 per cent in February 2023 from one year back. Among materials, the biggest increases in the year were recorded in heat insulation (25.2%) and transport (16.5%). Costs decreased most per month in steel structures (-4.7%) and roofing materials (-5.2%).

Line chart. The starting point of the index in 2000 is 100. The figure shows the index point figures of the Building Cost Index 2000=100 by cost item: total index, labour inputs, materials, services. The index has risen slightly year by year as concerns the total index, labour, materials and services. At the turn of 2008 and 2009, the fall in the prices of services and materials also turned the total index into a decline for around one year. In summer 2021, there was a sharp rise in the prices of materials, which pushed the total index up considerably.

Key points

Building costs rose by 6.4 per cent from one year ago.
The costs of materials rose by 9.2 per cent from one year back.
The prices of services increased by 5.7 per cent from one year ago.
Costs decreased most per month in steel structures (-4.7%) and roofing materials (-5.2%).
The total index went up by 0.6 per cent from the month before.

Statistics used in the release

Building cost index

Figures

See key statistical data in the figures.

16.03.2023

Index clause sub-indices P 2000=100, 2000M01-2023M02

Tables

See key statistical data in the tables.

16.03.2023

Building Cost Index 2021=100, February 2023

	Index figure	Monthly change, %	Annual change, %
0 Total index	110.8	0.6	6.4
01 Labour	104.4	0.0	2.5
02 Materials	116.3	1.1	9.2
03 Services	106.0	0.1	5.7

16.03.2023

Building Cost Index 2021=100 by purpose of use, February 2023

	Index figure	Monthly change, %	Annual change, %
0 Total index	110.8	0.6	6.4
01 Residential building	110.2	0.6	6.1
02 Other building construction	111.2	0.6	6.6

16.03.2023

Building Cost Index 2021=100 by input heading, February 2023

	Index figure	Monthly change, %	Annual change, %
0 TOTAL INDEX	110.8	0.6	6.4
01 LABOUR	104.4	0.0	2.5
02 MATERIALS	116.3	1.1	9.2
02.1 AREA	109.4	4.2	9.2
02.1.1 Soil	107.9	3.7	8.4
02.1.2 Construction site surface structures	110.7	5.0	9.8
02.1.3 House equipment	121.9	6.2	14.6
02.2 HOUSE	115.7	0.7	7.6
02.2.1 Concrete, bricks and blocks	119.8	5.5	12.6
02.2.2 Precast concrete units	115.1	-1.4	5.6
02.2.3 Timber structures	94.3	-1.5	-7.8
02.2.4 Steel structures	122.3	-4.7	5.6
02.2.5 Roofing materials	117.0	-5.2	6.6
02.2.6 Heat insulation	131.6	2.6	25.2
02.2.7 Windows and doors	120.9	3.2	10.2
02.3 FACILITIES	116.9	2.0	10.8
02.3.1 Frame structures	120.0	3.2	10.7
02.3.2 Surface materials	119.1	2.0	13.2
02.3.3 Fixtures, taps and household appliances	112.5	0.9	8.9
02.4 TECHNICAL SYSTEMS	119.8	0.2	11.3
02.4.1 Heat, water and sewer	124.8	-0.2	16.0
02.4.2 Ventilation	113.3	0.5	3.9
02.4.3 Electricity, control, lighting and lift	120.7	0.2	12.9
03 SERVICES	106.0	0.1	5.7
03.1 SITE AND FIXTURE SERVICES	106.7	0.1	6.6
03.1.1 Transport	120.0	0.0	16.5
03.1.2 Mechanical work and hoisters	103.4	0.0	5.5
03.1.3 Site facilities, scaffolding and weather protection	94.1	0.0	-2.5
03.1.4 Moulding equipment and supporting	109.9	0.0	6.8
03.1.5 Waste charges	105.7	0.0	3.1
03.1.6 Site energy	97.9	1.5	0.3
03.2 OTHER SERVICES	102.3	-0.3	1.1
03.2.1 Insurance	107.1	0.2	4.0
03.2.2 Connection charges	99.8	-0.6	-0.4