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Published: 14 January 2022

Building costs rose by 10,2 per cent in December year-on-year

According to Statistics Finland, building costs rose by 10.2 per cent in December 2021 from one year back. The costs of materials went up by 14.8 per cent and labour costs by 6.5 per cent year-on-year. The prices of services were on level with the previous year.

Long term development of the Building Cost Index

Long term development of the Building Cost Index

From November to December, the total index of building costs rose by 0.3 per cent. The prices of materials went up by 0.5 per cent. The prices of labour inputs and services remained unchanged from the previous month in December.

The price of timber has continued declining since the turn in October 2021, and from November to December it fell by 4.4 per cent. Despite this, the price of timber was still 50.7 per cent higher at the end of 2021 than one year earlier.

Building Cost Index’s new base year 2021=100

The next base year for the Building Cost Index will be 2021=100, to be published on 15 February 2022. Further information in the news release .

Building cost index 2015=100, December 2021

Professional construction of new buildings Weights Index Monthly change, % Annual change, %
Total index 1000 114.4 0.3 10.2
By type of cost Labour inputs 400 109.4 0.0 6.5
Materials 510 120.3 0.5 14.8
Services 90 103.3 0.0 -0.0
By purpose of use Residential building 440 114.5 0.1 10.2
Other building construction 560 114.4 0.4 10.2

Source: Building cost index, Statistics Finland

Inquiries: Liina Arhosalo 029 551 3612, Merja Järvinen 029 551 2458,

Head of Department in charge: Hannele Orjala

Publication in pdf-format (296.9 kB)


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Updated 14.01.2022

Referencing instructions:

Official Statistics of Finland (OSF): Building cost index [e-publication].
ISSN=1799-5841. December 2021. Helsinki: Statistics Finland [referred: 21.9.2023].
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