Analytics, Construction, Latvia, Real Estate

The drop in prices of building materials was mostly affected by the decrease in prices of road construction materials.

As compared to April 2015, construction costs fell by 1.2%. Prices of building materials decreased by 4.2%, while labour remuneration of workers increased by 4.5% and maintenance and operational costs of machinery and equipment – by 0.8%.

Construction cost indices (2010=100)

In 2016, data on prices of construction resources are provided by about 180 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 2015. The share of enterprises with the value of own account construction work exceeding EUR 1 million per year accounted for 74%, in 33% 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 section Producer Prices.