Analytics, Construction, Latvia, Real Estate, Wages

Compared to October 2016, in October 2017 construction costs increased by 2.8%. Labour remuneration of workers grew by 4.5%, prices of building materials by 2.6%, and maintenance and operational costs of machinery and equipment by 1.8%.

In 2017, the data on prices of construction resources are provided by approximately 190 construction enterprises and more than 40 trade enterprises. When calculating the Construction Cost Index, the prices of building materials submitted by enterprises for the calculation of producer price indices in industry and import price index are also used.

The sample includes construction enterprises with the highest value of own account construction works in 2016. The share of enterprises with the value of own account construction work exceeding EUR 1 million per year accounted for 72%, in 26% 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. The data on changes of construction costs in November 2017 will be published on 29 December.

More information on construction cost indices in Latvia is available in the CSB website section Key Indicators – Producer Prices – Metadata.

¹Hourly gross labour remuneration of workers employed in construction broken down by main professions:

-       bricklayers and workers of related professions;
-       concrete workers and workers of related professions;
-       carpenters and builders;
-       workers carrying out finishing works (roofers, plasterers, sanitary technicians and others);
-       painters and workers of related professions;
-       electricians;
-       asphalt layers;
-       auxiliary workers of road building and construction of artificial structures;
-       assemblers;
-       welders.