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Published: 15 February 2022

Building costs rose by 6,9 per cent in January year-on-year

Corrected 11 March 2022. The figure of the release has been corrected.

According to Statistics Finland, building costs rose by 6.9 per cent in January 2022 from one year back. The costs of materials went up by 10.8 per cent and labour costs by 3.6 per cent year-on-year. The prices of services fell by 0.4 per cent.

Long term development of the Building Cost Index (The figure was corrected on 11 March 2022.)

Long term development of the Building Cost Index (The figure was corrected on 11 March 2022.)

From December to January, the total index of building costs fell by 0.1 per cent. The prices of labour inputs fell by 0.3 per cent. The prices of services grew by 0.1 per cent from the previous month. The prices of materials remained on level with December.

Building Cost Index was renewed

The Building Cost Index has been renewed and the new base year is 2021. The weight structure of the index was updated to describe up-to-date building construction. The data collection has been renewed by updating the enterprise and commodity sample and by introducing the web scraped price list of hardware stores and scanner data as new data sources.

Timber and Interior structures were removed from the input nomenclature of the index, new headings are Timber structures and Frame structures. In the classification of house type a service building corresponds to an office and commercial building in the previous base year.

Employers' social insurance contributions were updated at the turn of the year in order to calculate labour costs.

Building cost index 2021=100, January 2022

Professional construction of new buildings Weights Index Monthly change, % Annual change, %
Total index 1000 103.5 -0.1 6.9
By type of cost Labour inputs 390 101.9 -0.3 3.6
Materials 520 105.3 0.0 10.8
Services 90 99.9 0.1 -0.4
By purpose of use Residential building 450 103.2 -0.1 6.5
Other building construction 550 103.7 -0.1 7.2

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 15.02.2022

Referencing instructions:

Official Statistics of Finland (OSF): Building cost index [e-publication].
ISSN=1799-5841. January 2022. Helsinki: Statistics Finland [referred: 16.7.2024].
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