Construction Cost Index for buildings, November 2024
Nearly unchanged Construction Cost Index in November 2024
The Construction Cost Index for multi-dwelling buildings decreased by 0.1 percent in November compared with October 2024. The annual rate of change in the Construction Cost Index was -0.8 percent in November, compared with the corresponding month in 2023 (decreased by 0.3 percent in October).
In brief
- The cost of diesel oil increased by 2.8 percent in November compared with October 2024 but were 28.9 percent lower compared with the corresponding month in 2023.
- Interest costs decreased by 3.5 percent in November compared with October 2024 and were 19.7 percent lower compared with the corresponding month in 2023.
- The costs of electricity increased by 27.1 percent between October and November 2024.
- The annual rate for costs of reinforcement steel continues to fall.
| Index | Change in percent | |||
|---|---|---|---|---|
| November | October 2024– November 2024 |
November 2023– November 2024 |
||
| Contractors' costs (82%) | 142.7 | 0.3 | 1.6 | |
| Construction clients' costs (18%) | 178.8 | ‑1.5 | ‑8.6 | |
| Total Construction cost index (100%) | 149.2 | ‑0.1 | ‑0.8 | |
Changes in the last month
The Construction Cost Index for multi-dwelling buildings decreased by 0.1 percent between October and November 2024. This decrease was due to the fact that construction clients’ costs decreased by 1.5 percent. Contractors’ costs increased by 0.3 percent. These two groups account for 18 percent and 82 percent, respectively, of the Construction Cost Index.
Costs in the group ‘transport, fuel and electricity’ rose by 5.2 percent. Within that group, the cost of electricity and diesel oil increased by 27.1 percent and 2.8 percent respectively. Overhead costs rose by 0.1 percent while costs for machinery decreased by 0.6 percent. The costs for wages and salaries remained unchanged.
Contractors’ costs for building materials remained unchanged. The costs of other building materials and floor materials increased by 1.3 percent and 0.1 percent respectively while costs of reinforcement steel, plumbing materials, wood products and electric materials decreased by between 0.1 and 0.4 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 3.5 percent.
Changes in the last year
The Construction Cost Index for multi-dwelling buildings decreased by 0.8 percent between November 2023 and November 2024. Contractors’ costs rose by 1.6 percent, which led to an upward contribution to the Construction Cost Index of 1.2 percentage points. Construction clients’ costs decreased by 8.6 percent, which led to a downward contribution to the Construction Cost Index of 2.0 percentage points. The decreased construction clients’ costs was due to lower interest costs, which decreased by 19.7 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 November 2023 and November 2024. Contractors’ costs in the group ‘transport, fuel and electricity’ decreased by 8.3 percent. Within that group, the costs of diesel oil and electricity decreased by 28.9 percent and 7.1 percent respectively.
Contractors’ costs of building materials increased by 1.6 percent between November 2023 and November 2024. All costs in the building material groups rose, with the exception of electric material, other building materials and reinforcement steel, which decreased by between 0.1 and 2.4 percent. The costs of wood products and white goods increased the most, by 7.5 percent and 4.9 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 | ||
|---|---|---|---|
| October 2024– November 2024 |
November 2023– November 2024 |
||
| Wood products | ‑0.2 | +7.5 | |
| White goods | +0.0 | +4.9 | |
| Concrete products | +0.0 | +3.6 | |
| Woodwork | ‑0.0 | +3.3 | |
| Iron and steel* | ‑0.3 | +1.7 | |
| Floor material | +0.1 | +0.6 | |
| Material for painting | 0.0 | +0.6 | |
| Plumbing material | ‑0.4 | +0.0 | |
| Reinforcement steel | ‑0.4 | ‑0.1 | |
| Other building materials** | +1.3 | ‑0.3 | |
| Electric material | ‑0.1 | ‑2.4 | |
| Total building materials | +0.0 | +1.6 | |
* 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
2025-01-15 08.00.
Statistical Database
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