Home > Statistics > Building cost index > 2021 > February > Building costs rose by 1.1 per cent in February year-on-year

Published: 16 March 2021

Building costs rose by 1.1 per cent in February year-on-year

According to Statistics Finland, building costs rose by 1.1 per cent in February 2021 from one year back. Labour costs went up by 1.2 per cent and the costs of materials by 1.3 per cent. Employer's social insurance contributions applied for 2021 are used in the calculation of the index, which explains the growth in labour costs. The prices of services fell by 0.3 per cent from one year ago.

Long term development of the Building Cost Index

From January to February, the total index of building costs rose by 0.2 per cent. Labour costs went up by 0.3 per cent and the prices of materials went rose by 0.2 per cent. The prices of services remained in February on level with January.

Building cost index 2015=100, February 2021

Professional construction of new buildings		Weights	Index	Monthly change, %	Annual change, %
Total index		1000	105.3	0.2	1.1
By type of cost	Labour inputs	400	105.4	0.3	1.2
	Materials	510	105.6	0.2	1.3
	Services	90	103.6	0.0	-0.3
By purpose of use	Residential building	440	105.3	0.1	1.1
	Other building construction	560	105.3	0.3	1.2

Source: Building cost index, Statistics Finland

Inquiries: Liina Arhosalo 029 551 3612, Merja Järvinen 029 551 2458, info@stat.fi

Head of Department in charge: Hannele Orjala

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Appendix tables

• Appendix table 1. Input indices 2015=100, February 2021 (16.3.2021)
• Appendix table 2. Residential building 2015=100, February 2021 (16.3.2021)

Figures

• Appendix figure 1. Input indices 2015=100, largest annual changes, per cent (16.3.2021)
• Appendix figure 2. Index clause sub-indices P 2000=100 (16.3.2021)

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Updated 16.03.2021