Changes in the last month

The Construction Cost Index for multi-dwelling buildings increased by 0.2 percent between January and February 2024. This increase was due to the fact that contactors’ costs and construction clients’ costs increased by 0.2 percent and 0.4 percent respectively. These two groups account for 82 percent and 18 percent, respectively, of the Construction Cost Index.

Construction clients’ costs consist of interest and credit costs, costs for plans, and central administration. Interest costs and costs for planning rose slightly, while general costs decreased by 0.2 percent.

Costs in the group ‘transport, fuel and electricity’ decreased by 2.4 percent. The decrease was due to lower costs of electricity by 12,6 percent. Contractors’ cost for machinery and overhead costs decreased by 0.4 percent and 0.1 percent respectively, while costs for wages and salaries remained unchanged.

Contractors’ costs for building materials increased by 0.7 percent. All costs in the building material groups rose slightly, with the exception of wood products and floor material which decreased. The costs of iron and steel including reinforcement steel and electric material increased the most.

Changes in the last year

The Construction Cost Index for multi-dwelling buildings increased by 2.8 percent between February 2023 and February 2024. This is the lowest annual rate of change since March 2021. Contractors’ costs rose by 0.6 percent, which led to an upward contribution to the Construction Cost Index of 0.4 percentage points. Construction clients’ costs increased by 11.1 percent, which led to an upward contribution to the Construction Cost Index of 2.4 percentage points. The increased construction clients’ costs was mostly due to higher interest costs by 17.9 percent.

Contractors’ costs for overhead costs and wages and salaries increased by 5.1 percent and 4.2 percent respectively, while costs for machinery rose by 1.6 percent between February 2023 and February 2024. Contractors’ costs in the group ‘transport, fuel and electricity’ decreased by 24.9 percent. Within that group, the cost of electricity and diesel oil decreased by 60.3 percent and 19.6 percent respectively.

Contractors’ costs of building materials increased by 1.4 percent between February 2023 and February 2024. The costs of white goods and woodwork increased the most, by 8.6 percent and 6.0 percent respectively. The cost of reinforcement steel decreased by 6.7 percent between February 2023 and February 2024.

Correction of the statistics:

Published index figures for Construction Cost Index for buildings, including wage drift, excluding VAT with base year 1968 = 100 have been corrected in two tables in Statistics Sweden’s Statistical database. The correction only affects the mentioned time series from first quarter of year 2016 until fourth quarter of 2024. The corresponding time series with base year 2015 = 100 are not affected, nor is the Construction Cost index including, wage drift including VAT, regardless of the base year. Corrected data do not appear in previous statistical news or deliveries to Eurostat.

Construction Cost Index for multi-dwelling buildings, excl. wage drift and value-added tax.

Construction Cost Index for multi-dwelling buildings, excl. wage drift and value-added tax