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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

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,

Head of Department in charge: Hannele Orjala

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Updated 16.03.2021

Referencing instructions:

Official Statistics of Finland (OSF): Building cost index [e-publication].
ISSN=1799-5841. February 2021. Helsinki: Statistics Finland [referred: 29.3.2023].
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