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Published: 12 February 2008

Building costs rose by 4.4 per cent in twelve months

Building costs rose by 4.4 per cent from January 2007 to January 2008. Labour costs in construction went up by 1.7 per cent, prices of materials by 5.7 per cent and those of other inputs by 5.5 per cent year-on-year. This is indicated by the building cost index of Statistics Finland.

From December 2007 to January 2008, the total index of building costs fell by 0.1 per cent. The prices for labour fell by 1.3 per cent, whereas those for materials and other inputs rose by 0.4 per cent.

Building Cost Index (2005 = 100) and its year-on-year and month-on-month changes

Index	January 2008	Change % 1/2007 - 1/2008	Change % 12/2007 -1/2008
Building trade newbuilding
Total index	111.8	4.4	-0.1
Labour	106.4	1.7	-1.3
Materials	114.5	5.7	0.4
Other inputs	113.5	5.5	0.4
By type of building
Newbuilding
Blocks of flats	112.6	5.0	-0.1
Detached residential houses	112.3	4.3	-0.2
Office and commercial buildings	111.2	4.5	-0.1
Industrial and warehouse buildings	111.2	3.8	-0.1
Agricultural production buildings	119.2	7.1	0.1

Source: Building cost index 2008, January. Statistics Finland

Inquiries: Ms Sinikka Kanerva +358 9 1734 2231, rakennus.suhdanne@stat.fi

Director in charge: Ms Hannele Orjala

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Last updated 12.2.2008