Analytics, Construction, Lithuania, Real Estate
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Saturday, 20.04.2024, 02:52
In October, construction input prices decreased by 0.3% in Lithuania
Print versionIn October, against September, a decrease in average gross hourly earnings was determined by reduced lump sum premiums, bonuses and benefits.
As for buildings and structures, the largest decrease in prices – 0.5% – was observed for the construction of residential buildings.
Table 1. Influence on the
overall monthly price change (October 2017, against September) by main
construction input component group
|
Construction input component groups |
Price growth, drop (–), % |
Influence, percentage points |
|
Materials and products |
0.2 |
+0.149 |
|
Overheads |
–0.3 |
–0.012 |
|
Operation of
machines and mechanisms |
–0.3 |
–0.017 |
|
Wages and salaries |
–1.4 |
–0.387 |
The influence on the overall change in construction input prices is determined not only by change in the construction input component price but also by the relative share (weight) of that component in the total value of construction.
Over the year (October 2017, against October 2016), construction input prices increased by 3%. This was determined by an 8.2% increase in wages and salaries, 1.4% – prices of construction materials and products, 1.1% – hourly labour costs on operation of construction machines and mechanisms.
As for buildings and structures, the largest increase in prices was observed for the construction of residential buildings – 4%. Renovation of buildings went up in price by 4.1%.
Table 2. Changes in
construction input prices by type of structure, October 2017, %
|
Types of
structures according to CC1 |
Relative share
(weight) of the construction work carried out by type of structure in the
total value of new construction |
Price growth,
drop (–), October 2017, |
||
|
September 2017 |
2016 |
|||
|
December |
October |
|||
|
All structures |
100.0 |
–0.3 |
2.9 |
3.0 |
|
Residential buildings |
16.6 |
–0.5 |
3.7 |
4.0 |
|
One flat houses |
12.9 |
–0.5 |
3.7 |
4.0 |
|
Blocks of flats |
3.7 |
–0.4 |
3.6 |
3.8 |
|
Non-residential buildings |
37.9 |
–0.3 |
3.7 |
3.9 |
|
Administrative |
7.7 |
–0.3 |
3.3 |
3.5 |
|
Industrial |
20.1 |
–0.3 |
3.8 |
4.0 |
|
Trade |
10.1 |
–0.3 |
3.7 |
3.9 |
|
Civil engineering units |
45.5 |
–0.2 |
1.9 |
2.0 |
|
Utility infrastructure (except for wastewater pipelines) |
27.3 |
–0.1 |
1.7 |
2.0 |
|
Wastewater
pipelines |
4.5 |
–0.4 |
2.3 |
2.2 |
|
Roads and streets |
13.7 |
–0.3 |
2.1 |
1.9 |
|
Renovation of buildings |
x |
–0.5 |
4.0 |
4.1 |
_______
x – the indicator
is not calculated in such expression
Table 3. Changes
in prices for the main construction input component groups, October 2017, %
|
Construction input component groups |
Relative share
(weight) |
Price growth,
drop (–), October 2017, |
||
|
September 2017 |
2016 |
|||
|
December |
October |
|||
|
Total construction costs |
100.0 |
–0.3 |
2.9 |
3.0 |
|
Materials and products |
62.4 |
0.2 |
1.3 |
1.4 |
|
Operation of
machines and mechanisms |
6.6 |
–0.3 |
1.0 |
1.1 |
|
Wages and
salaries and overheads |
31.0 |
–1.2 |
6.5 |
6.9 |
|
Wages and salaries |
26.2 |
–1.4 |
7.8 |
8.2 |
|
Overheads |
4.8 |
–0.3 |
–0.6 |
–0.4 |
_______
1 Classification of types of Construction – CC
A news release on changes in construction input prices in November 2017 is due on 28 December 2017.
For more information, see the Database of Indicators.
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