Analytics, Construction, Latvia, Real Estate, Wages

In April, the average level of construction costs was mostly affected by price rise of road construction materials, as well as maintenance and operational costs of lorries.

Compared to April 2017, construction costs rose by 3.8%. Labour remuneration of workers grew by 6.2%, prices of building materials – by 3.6%, but maintenance and operational costs of machinery and equipment – by 2.5%.

In 2018, 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 2017. The share of enterprises with the value of own account construction work exceeding EUR 1 million per year accounted for 80%, 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 Producer Prices section of the CSB database. Information on changes of construction costs in May 2018 will be published on 27 June.

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