Construction Cost Index for buildings, December 2024
Construction costs fell in December 2024
Statistical news from Statistics Sweden 2025-01-15 8.00
The Construction Cost Index for multi-dwelling buildings decreased by 0.6 percent in December compared with November 2024. The annual rate of change in the Construction Cost Index was -0.6 percent in December, compared with the corresponding month in 2023 (decreased by 0.8 percent in November).
In brief
- The cost of diesel oil increased by 1.1 percent in December compared with November 2024 but were 23.3 percent lower compared with the corresponding month in 2023.
- Construction clients’ costs decreased by 2.6 percent in December compared with November 2024 and were 10.1 percent lower compared with the corresponding month in 2023.
- The costs of electricity decreased by 4.9 percent between November and December 2024.
| Index | Change in percent | |||
|---|---|---|---|---|
| December | November 2024– December 2024 |
December 2023– December 2024 |
||
| Contractors' costs (82%) | 142.7 | ‑0.0 | 2.2 | |
| Construction clients' costs (18%) | 174.1 | ‑2.6 | ‑10.1 | |
| Total Construction cost index (100%) | 148.3 | ‑0.6 | ‑0.6 | |
Changes in the last month
The Construction Cost Index for multi-dwelling buildings decreased by 0.6 percent between November and December 2024. This decrease was due to the fact that construction clients’ costs decreased by 2.6 percent. Contractors’ costs remained unchanged. These two groups account for 18 percent and 82 percent, respectively, of the Construction Cost Index.
Costs in the group ‘transport, fuel and electricity’ decreased by 0.9 percent. This decrease was due to the fact that the cost of electricity fell by 4.9 percent. The cost of diesel oil increased by 1.1 percent. Contractors’ overhead costs rose by 0.1 percent while costs for machinery and wages and salaries remained unchanged.
Contractors’ costs for building materials increased by 0.1 percent. The costs of other building materials, plumbing materials, concrete products, and iron and steel including reinforcement steel increased by between 0.1 percent and 0.5 percent, while costs of electric materials decreased by 0.8 percent.
Construction clients’ costs consist of interest and credit costs, costs for plans, and central administration. The decrease in construction clients’ costs was due to lower interest costs, which fell by 6.1 percent.
Changes in the last year
The Construction Cost Index for multi-dwelling buildings decreased by 0.6 percent between December 2023 and December 2024. Contractors’ costs rose by 2.2 percent, which led to an upward contribution to the Construction Cost Index of 1.7 percentage points. Construction clients’ costs decreased by 10.1 percent, which led to a downward contribution to the Construction Cost Index of 2.3 percentage points. The decreased construction clients’ costs was due to lower interest costs, which decreased by 23.0 percent. The remaining construction clients’ costs increased by between 1.6 percent and 4.7 percent.
Contractors’ overhead costs and costs for wages and salaries increased by 3.5 percent and 3.3 percent respectively, while costs for machinery decreased by 0.5 percent between December 2023 and December 2024. Contractors’ costs in the group ‘transport, fuel and electricity’ decreased by 7.5 percent. Within that group, the costs of diesel oil and electricity decreased by 23.3 percent and 11.7 percent respectively.
Contractors’ costs of building materials increased by 2.8 percent between December 2023 and December 2024. All costs in the building material groups rose. The costs of wood products and concrete products increased the most, by 7.5 percent and 5.4 percent respectively.
Construction Cost Index for multi-dwelling buildings, excl. wage drift and value-added tax
The width of the bars represents the production factor’s weight share in percent in the calculation of the Construction Cost Index for multi-dwelling buildings. The height of the bars represents the average price development of each production factor.
| Goods | Change in percent | ||
|---|---|---|---|
| November 2024– December 2024 |
December 2023– December 2024 |
||
| Wood products | +0.0 | +7.5 | |
| Concrete products | +0.3 | +5.4 | |
| White goods | ‑0.0 | +4.6 | |
| Woodwork | ‑0.0 | +3.2 | |
| Iron and steel* | +0.1 | +2.5 | |
| Other building materials** | +0.5 | +2.0 | |
| Floor material | +0.0 | +0.7 | |
| Material for painting | 0.0 | +0.6 | |
| Reinforcement steel | +0.2 | +0.5 | |
| Plumbing material | +0.4 | +0.5 | |
| Electric material | ‑0.8 | +0.3 | |
| Total building materials | +0.1 | +2.8 | |
* Includes reinforcement steel. ** Includes materials for thermal insulation, garbage equipment, gypsum and wood-based boards.
Construction Cost Index for multi-dwelling buildings, excl. wage drift and value-added tax
The width of the bars represents the construction material group’s weight share in percent of all construction material in the calculation of the Construction Cost Index for multi-dwelling buildings. The height of the bars represents the average price development of each product category.
Next publishing will be
2025-02-17 08.00.
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