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Published: 16 March 2022

Building costs rose by 7.5 per cent in February year-on-year

According to Statistics Finland, building costs rose by 7.5 per cent in February 2022 from one year back. The costs of materials went up by 12.1 per cent and labour costs by 3.3 per cent year-on-year. In February, the prices of services remained on level with the previous year.

Long term development of the Building Cost Index

Long term development of the Building Cost Index

From January to February, the total index of building costs rose by 0.6 per cent. The prices of materials went up by 1.1 per cent in a month and the prices of services by 0.4 per cent. In February, prices of labour inputs remained on level with January.

Building cost index 2021=100, February 2022

Professional construction of new buildings Weights Index Monthly change, % Annual change, %
Total index 1000 104.1 0.6 7.5
By type of cost Labour inputs 390 101.9 0.0 3.3
Materials 520 106.5 1.1 12.1
Services 90 100.2 0.4 0.0
By purpose of use Residential building 450 103.9 0.6 7.2
Other building construction 550 104.3 0.6 7.7

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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Updated 16.03.2022

Referencing instructions:

Official Statistics of Finland (OSF): Building cost index [e-publication].
ISSN=1799-5841. February 2022. Helsinki: Statistics Finland [referred: 11.8.2022].
Access method: http://www.stat.fi/til/rki/2022/02/rki_2022_02_2022-03-16_tie_001_en.html