Published: 15 January 2021

Building costs fell by 0.5 per cent in December year-on-year

According to Statistics Finland, building costs fell by 0.5 per cent in December 2020 compared with the previous year. Labour costs went down by 1.4 per cent. The prices of materials and services rose by 0.1 per cent compared to one year ago.

Long term development of the Building Cost Index

The fall in labour costs is affected by the lowering of employer's pension insurance contributions in the private sector. Due to corona, pension contributions were temporarily lowered from May 2020 until the end of the year.

From November to December, the total index of building costs fell by 0.2 per cent. The prices of materials fell by 0.4 per cent from the previous month. Labour costs and prices of services remained unchanged from the previous month.

Building cost index 2015=100, December 2020

Professional construction of new buildings		Weights	Index	Monthly change, %	Annual change, %
Total index		1000	103.8	-0.2	-0.5
By type of cost	Labour inputs	400	102.7	0.0	-1.4
	Materials	510	104.8	-0.4	0.1
	Services	90	103.3	-0.0	0.1
By purpose of use	Residential building	440	103.9	-0.3	-0.6
	Other building construction	560	103.8	-0.2	-0.4

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

Publication in pdf-format (297.9 kB)

Tables

Tables in databases

• Database tables and their variables - Monthly data
• Database tables and their variables - Annual data
• Database tables and link to archive base

Appendix tables

• Appendix table 1. Input indices 2015=100, December 2020 (15.1.2021)
• Appendix table 2. Residential building 2015=100, December 2020 (15.1.2021)

Figures

• Appendix figure 1. Input indices 2015=100, largest annual changes, per cent (15.1.2021)
• Appendix figure 2. Index clause sub-indices P 2000=100 (15.1.2021)

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Updated 15.01.2021