Building costs rise by 3.7% in May Y-on-Y

Building costs rose by 3.7 per cent in May 2023 from one year back, according to Statistics Finland.

Among materials, the biggest increases in the year were recorded in heat insulation (21.2%) and surface materials (11.4%).

Costs decreased most in the year in timber structures (minus 20.6%) and precast concrete units ( minus 4.8%).

The costs of materials rose by 2.9 per cent from one year back while the prices of services increased by 3.8 per cent from one year ago.

The total index went up by 0.7 per cent from the month before.