Changes in the last month

The Construction Cost Index for multi-dwelling buildings increased by 1.3 percent between April 2025 and May 2025. This increase was due to the fact that construction clients’ costs and contractors’ costs increased by 2.3 percent and 1.1 percent respectively. These two groups account for 18 percent and 82 percent, respectively, of the Construction Cost Index.

Costs in the group ‘transport, fuel and electricity’ decreased by 0.5 percent. Within that group, the cost of diesel oil and the cost of transport decreased by 4.1 and 0.6 percent respectively. The cost of electricity increased by 1.8 percent. Contractors’ costs for wages and salaries and overhead costs increased by 3.2 and 1.9 percent respectively, while costs for machinery rose by 0.1 percent.

Contractors’ costs for building materials were unchanged overall. Among the building material groups, the cost of wood products and material for painting rose the most, by 2.9 and 1.1 percent, respectively. At the same time the cost of flooring materials, other building materials and electrical materials fell by between 1.0 and 0.4 percent. The remaining material costs changed marginally or were unchanged between April and May 2025.

Construction clients’ costs consist of interest and credit costs, costs for plans, and central administration. All construction clients’ costs increased, the cost of official employee wages increased the most, by 2.9 percent.

Changes in the last year

The Construction Cost Index for multi-dwelling buildings decreased by 0.3 percent between May 2024 and May 2025. Contractors’ costs rose by 2.5 percent, which led to an upward contribution to the Construction Cost Index of 1.9 percentage points. Construction clients’ costs decreased by 9.6 percent, which led to a downward contribution to the Construction Cost Index of 2.2 percentage points. The decreased construction clients’ costs was due to lower interest costs, which decreased by 21.8 percent. The remaining construction clients’ costs increased by between 0.3 percent and 3.7 percent.

Contractors’ costs for wages and salaries and overhead costs increased by 3.5 percent and 2.5 percent respectively, while costs for machinery decreased by 0.4 percent between May 2024 and May 2025. Contractors’ costs in the group ‘transport, fuel and electricity’ decreased by 1.8 percent. Within that group, the cost of diesel oil decreased the most, by 15.2 percent. The decrease was offset by higher costs for electricity, which rose by 6.1 percent.

Contractors’ costs of building materials increased by 2.9 percent between May 2024 and May 2025. All costs in the building material groups rose except for the cost of electric materials, which decreased slightly. The costs of wood products and materials for painting increased the most, by 12.8 percent and 9.7 percent respectively.

Construction Cost Index for multi-dwelling buildings, excl. wage drift and value-added tax

Construction Cost Index for multi-dwelling buildings, excl. VAT