Analytics, Construction, Latvia, Real Estate

International Internet Magazine. Baltic States news & analytics Thursday, 25.04.2024, 07:14

Construction costs in Latvia in October grew by 0.2%

Baiba Alksnīte, Statistics Latvia, 27.11.2015.Print version
Latest data of the Central Statistical Bureau (CSB) show that compared to September construction costs in Latvia in October 2015 increased by 0.2%. Labour remuneration of workers increased by 0.5%, prices of building materials – by 0.2%; in turn, maintenance and operational costs of machinery and equipment did not change significantly.

Compared to October 2014, construction costs decreased by 0.2%. Prices of building materials went down by 2.2%, maintenance and operational costs of machinery and equipment – by 0.9%; in turn, labour remuneration of workers rose by 7.3%.


Construction Cost Indices (2010 = 100)

Data source: Central Statistical Bureau of Latvia


In 2015, data on prices of construction resources are provided by about 190 construction enterprises and 30 trade enterprises. Construction Cost Index calculations are based on the prices of building materials submitted by the enterprises for the calculation of producer price indices in industry and import price indices.

 

The sample includes construction enterprises with the highest value of own account construction works in 2014. The share of enterprises with the value of own account construction work exceeding EUR 1 million per year accounted for 60%, in 27% of which the value of own account construction work exceeded EUR 5 million per year. The criterion for the sample of trade enterprises is their turnover and specialisation.

 

More information on construction costs is available in the CSB database in section Producer Prices. 





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