Construction price rise in Q1 2025 curbed by lower cost of materials
The construction price index in Estonia rose by 0.1 percent compared with the fourth quarter of 2024 (Q4 2024) and the first quarter of 2025 (Q1 2025), and by 1.2 percent on year, state agency Statistics Estonia reported.
Commenting on the results, Ülo Paulus, leading analyst at Statistics Estonia, said the index was mainly influenced by a 2.9 percent rise in employees' wages, which accounted for 54 percent of the annual change.
He said: "Compared with the fourth quarter of last year, labor force was 0.6 percent more expensive and the cost of using building machines rose by 0.3 percent, while the prices of building materials were down by 0.2 percent."
The repair and reconstruction work price index fell by 0.5 percent between Q4 2024 and Q1 2025, but rose by 0.5 percent on year.
The construction price index reflects changes in construction costs for labor, building machines, and materials.
It covers four types of buildings: Detached houses, blocks of flats, industrial buildings, and office buildings.
The repair and reconstruction index covers office buildings only.
Statistics Estonia collected the data for the Ministry of Economic Affairs and Communications.
More detailed information from Statistics Estonia is available here and here.
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Editor: Andrew Whyte
