Home > Statistics > Building cost index > 2021 > September > Building costs rose by 9.3 per cent in September

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

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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Appendix tables

• Appendix table 1. Input indices 2015=100, September 2021 (15.10.2021)
• Appendix table 2. Residential building 2015=100, September 2021 (15.10.2021)

Figures

• Appendix figure 1. Input indices 2015=100, largest annual changes, per cent (15.10.2021)
• Appendix figure 2. Index clause sub-indices P 2000=100 (15.10.2021)

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Updated 15.10.2021