Home > Statistics > Building cost index > 2008 > May > Building costs rose by 4.3 per cent in twelve months

Published: 12 June 2008

Building costs rose by 4.3 per cent in twelve months

Building costs rose by 4.3 per cent from May 2007 to May 2008. Labour costs in construction went up by 4.1 per cent, prices of materials by 4.0 per cent and those of other inputs by 5.8 per cent year-on-year. This is indicated by the building cost index of Statistics Finland.

From April to May 2008, the total index of building costs rose by 0.3 per cent. The prices for labour went up by 0.5 per cent, and those for other inputs by 0.7 per cent, whereas the prices of materials remained unchanged.

Building Cost Index (2005 = 100) and its year-on-year and month-on-month changes

Index	May 2008	Change % 5/2007 - 5/2008	Change % 4/2008 - 5/2008
Building trade newbuilding
Total index	114.4	4.3	0.3
Labour	110.1	4.1	0.5
Materials	116.5	4.0	0.0
Other inputs	116.2	5.8	0.7
By type of building
Newbuilding
Blocks of flats	114.6	4.4	0.1
Detached residential houses	114.8	3.7	0.0
Office and commercial buildings	113.8	4.6	0.5
Industrial and warehouse buildings	114.3	4.2	0.3
Agricultural production buildings	121.2	4.4	0.0

Source: Building cost index 2008, May. Statistics Finland

Inquiries: Ms Sinikka Kanerva +358 9 1734 2231, rakennus.suhdanne@stat.fi

Director in charge: Ms Hannele Orjala

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Last updated 12.6.2008