Building costs rose by 2.1 per cent in August year-on-year

release 15/09/2023 | Building cost index 2023, August

According to Statistics Finland, building costs rose by 2.1 per cent in August 2023 from one year back. Among materials, the biggest increases in the year were recorded in heat insulation (11.1%) and house equipment (7.7%). Costs decreased most in the year in timber structures (-17.3%) and precast concrete units (-10.3%).

Line chart. The starting point of the index in 2000 is 100. The figure shows the index point figures of the Building Cost Index 2000=100 by cost item: total index, labour inputs, materials, services. The index has risen slightly year by year as concerns the total index, labour, materials and services. At the turn of 2008 and 2009, the fall in the prices of services and materials also turned the total index into a decline for around one year. In summer 2021, there was a sharp rise in the prices of materials, which pushed the total index up considerably.

Key selections

Building costs rose by 2.1 per cent from one year ago.
The costs of materials decreased by -0.4 per cent from one year back.
The prices of services increased by 3.1 per cent from one year ago.
The total index went up by 0.1 per cent from the month before.

Statistics used in the release

Building cost index

Figures

See key statistical data in the figures.

15.09.2023

Index clause sub-indices P 2000=100, 2000M01-2023M08

Tables

See key statistical data in the tables.

15.09.2023

Building Cost Index 2021=100, August 2023

	Index figure	Monthly change, %	Annual change, %
0 Total index	111.1	0.1	2.1
01 Labour	108.5	0.5	5.7
02 Materials	113.9	-0.1	-0.4
03 Services	106.4	0.0	3.1

15.09.2023

Building Cost Index 2021=100 by purpose of use, August 2023

	Index figure	Monthly change, %	Annual change, %
0 Total index	111.1	0.1	2.1
01 Residential building	110.4	0.1	1.8
02 Other building construction	111.7	0.2	2.3

15.09.2023

Building Cost Index 2021=100 by input heading, August 2023

	Index figure	Monthly change, %	Annual change, %
0 TOTAL INDEX	111.1	0.1	2.1
01 LABOUR	108.5	0.5	5.7
02 MATERIALS	113.9	-0.1	-0.4
02.1 AREA	110.4	2.1	4.3
02.1.1 Soil	109.0	3.8	2.7
02.1.2 Construction site surface structures	112.1	-0.7	7.3
02.1.3 House equipment	117.8	-1.5	7.7
02.2 HOUSE	112.2	-0.3	-3.6
02.2.1 Concrete, bricks and blocks	119.2	0.7	3.6
02.2.2 Precast concrete units	106.8	-0.4	-10.3
02.2.3 Timber structures	88.7	-0.7	-17.3
02.2.4 Steel structures	121.9	-2.0	-6.6
02.2.5 Roofing materials	113.8	0.1	-5.3
02.2.6 Heat insulation	135.7	-1.4	11.1
02.2.7 Windows and doors	117.4	0.3	2.3
02.3 FACILITIES	116.1	-0.2	2.6
02.3.1 Frame structures	117.5	-0.1	-1.6
02.3.2 Surface materials	120.0	-0.1	7.5
02.3.3 Fixtures, taps and household appliances	111.7	-0.4	1.7
02.4 TECHNICAL SYSTEMS	117.0	-0.3	2.2
02.4.1 Heat, water and sewer	117.9	0.2	-0.7
02.4.2 Ventilation	113.5	0.2	2.4
02.4.3 Electricity, control, lighting and lift	118.2	-0.7	3.2
03 SERVICES	106.4	0.0	3.1
03.1 SITE AND FIXTURE SERVICES	107.1	0.0	3.5
03.1.1 Transport	118.4	0.0	3.5
03.1.2 Mechanical work and hoisters	98.8	0.0	3.2
03.1.3 Site facilities, scaffolding and weather protection	98.6	0.0	2.2
03.1.4 Moulding equipment and supporting	116.7	0.0	11.8
03.1.5 Waste charges	105.7	0.0	3.1
03.1.6 Site energy	99.7	0.1	6.9
03.2 OTHER SERVICES	102.3	0.0	0.6
03.2.1 Insurance	107.3	0.1	3.0
03.2.2 Connection charges	99.8	0.0	-0.6