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Latest publication: Building cost index 2022, February

Published: 15 October 2021

Building costs rose by 9.3 per cent in September

According to Statistics Finland, building costs rose by 9.3 per cent in September 2021 compared with the previous year. The costs of materials went up by 13.2 per cent and labour costs by 6.1 per cent from one year ago. The prices of services rose by 1.2 per cent.

Long term development of the Building Cost Index

Long term development of the Building Cost Index

The rise in labour costs in September was due to a contractual pay increase in several industries of construction. The costs of materials were mostly influenced by the continuing high price level of timber.

From August to September, the total index of building costs grew by 0.9 per cent. The costs of materials and labour costs both rose by 1.0 per cent in a month. The prices of services remained unchanged from the previous month.

Building cost index 2015=100, September 2021

Professional construction of new buildings Weights Index Monthly change, % Annual change, %
Total index   1000 113.1 0.9 9.3
By type of cost Labour inputs 400 108.4 1.0 6.1
Materials 510 118.3 1.0 13.2
Services 90 104.1 0.0 1.2
By purpose of use Residential building 440 113.7 0.8 9.8
Other building construction 560 112.6 1.0 8.9

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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Updated 15.10.2021

Referencing instructions:

Official Statistics of Finland (OSF): Building cost index [e-publication].
ISSN=1799-5841. September 2021. Helsinki: Statistics Finland [referred: 28.5.2022].
Access method: http://www.stat.fi/til/rki/2021/09/rki_2021_09_2021-10-15_tie_001_en.html