Building costs rise by 8.3% in July YoY

Building costs rose by 8.3 per cent in July 2022 from one year back, according to Statistics Finland.

Among materials, the biggest increases in the year were recorded in steel structures (34.8%) and concrete elements (20.6%).

The costs of timber structures, however, fell on the annual level (-3.0%).

The costs of materials rose by 12.8 per cent from one year back while labour costs went up by 3.4 per cent.

The prices of services increased by 2.5 per cent.

The total index went up by 0.2 per cent from the month before.