Analytics, Construction, Good for Business, Lithuania, Markets and Companies, Real Estate
International Internet Magazine. Baltic States news & analytics
Friday, 19.04.2024, 05:24
In May, construction input prices in Lithuania increased by 3.1% y-o-y
Print versionAs regards construction materials and products, the largest increase in prices was observed for pipes – 1.4%, insulation materials and concrete and ferroconcrete products – 0.7% each, electrical engineering materials – 0.5%, while the largest decrease in prices was recorded for finishing materials – 0.3%.
As for buildings and structures, the largest increase over month was observed for construction of civil engineering units – 0.7%. Renovation of buildings went up in price by 0.8%.
Table 1. Influence on the overall monthly price change (May 2018, against April 2018) by main construction input component group
|
Construction input component groups |
Price growth, drop (–), % |
Influence, percentage points |
|
Wages and salaries |
1.3 |
+0.354 |
|
Materials and products |
0.4 |
+0.265 |
|
Overheads |
–0.3 |
–0.013 |
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 (May 2018, against May 2017), construction input prices increased by 3.1%. This was determined by a 7.7% increase in wages and salaries, 1.6% – prices of construction materials and products, 1.2% – hourly labour costs on operation of construction machines and mechanisms.
As for buildings and structures, the largest increase in prices over a year was observed for the construction of residential buildings – 3.6%. Renovation of buildings went up in price by 3.7%.
|
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, May 2018, against |
||
|
April 2018 |
2017 |
|||
|
December |
May |
|||
|
All structures |
100.0 |
0.6 |
0.7 |
3.1 |
|
Residential buildings |
16.8 |
0.6 |
0.5 |
3.6 |
|
One flat houses |
13.1 |
0.6 |
0.5 |
3.7 |
|
Blocks of flats |
3.7 |
0.6 |
0.6 |
3.4 |
|
Non-residential buildings |
38.2 |
0.5 |
0.5 |
3.1 |
|
Administrative |
7.7 |
0.6 |
0.6 |
3.3 |
|
Industrial |
20.3 |
0.4 |
0.4 |
3.0 |
|
Trade |
10.2 |
0.5 |
0.5 |
3.0 |
|
Civil engineering units |
45.0 |
0.7 |
1.0 |
2.9 |
|
Utility
infrastructure (except for wastewater pipelines) |
26.9 |
1.0 |
1.1 |
3.4 |
|
Wastewater pipelines |
4.5 |
1.0 |
1.8 |
4.2 |
|
Roads and streets |
13.6 |
0.2 |
0.4 |
1.6 |
|
Renovation of buildings |
x |
0.8 |
0.7 |
3.7 |
x – the indicator is not calculated in such expression
Table 3. Changes in prices for the main construction input component groups, May 2018, %
|
Construction input component groups |
Relative share
(weight) of construction input component groups in the total value of
construction |
Price growth,
drop (−), May 2018, against |
||
|
April 2018 |
2017 |
|||
|
December |
May |
|||
|
Total construction costs |
100.0 |
0.6 |
0.7 |
3.1 |
|
Materials and products |
60.9 |
0.4 |
0.9 |
1.6 |
|
Operation of
machines and mechanisms |
6.5 |
0.0 |
0.3 |
1.2 |
|
Wages and
salaries and overheads |
32.6 |
1.1 |
0.4 |
6.5 |
|
Wages and salaries |
28.0 |
1.3 |
0.5 |
7.7 |
|
Overheads |
4.6 |
–0.3 |
0.0 |
–0.4 |
___________________________
1 Classification
of types of Construction – CC
A news release on changes in construction input prices in June 2018 is due on 30 July 2018.
For more information, see the Database of Indicators.
«The Baltic Course» Is Sold and Stays in Business!
