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Published: 2 December 2020

Corrected release 05/2020: Building costs fell by 0.5 per cent in May year-on-year

Data of the building cost index has been corrected from May 2020 to October 2020. Further information in this newsletter .

According to Statistics Finland, building costs fell by 0.5 per cent in May 2020 compared with the previous year's May. The prices of services rose by 0.5 per cent compared with May of the previous year. The prices of materials fell by 0.7 per cent and labour costs fell by 0,4 per cent from one year ago.

Long term development of the Building Cost Index

Long term development of the Building Cost Index

From April to May, the total index of building costs fell by 0.7 per cent. The prices of labour costs fell by 1,8 per cent. The prices of materials and services remained unchanged in May from the previous month.

Building cost index 2015=100, May 2020

Professional construction of new buildings Weights Index Monthly change, % Annual change, %
Total index   1000 103.4 -0.7 -0.5
By type of cost Labour inputs 400 101.9 -1.8 -0.4
Materials 510 104.7 -0.0 -0.7
Services 90 103.1 0.0 0.5
By purpose of use Residential building 440 103.5 -0.6 -0.7
Other building construction 560 103.4 -0.8 -0.3

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 2.12.2020

Referencing instructions:

Official Statistics of Finland (OSF): Building cost index [e-publication].
ISSN=1799-5841. May 2020. Helsinki: Statistics Finland [referred: 5.3.2024].
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