Construction costs rose in September
Construction costs have turned upward in Finland. According to the latest data from Statistics Finland, the construction cost index rose by 3.4 percent in September compared to the same period last year.
The increase in costs was particularly driven by changes in material prices. The prices of building materials grew by 3.6 percent in September year-on-year. The price trend of materials has been one of the key factors increasing the budgets of construction projects.
Labor costs have also increased. The price of labor input rose by 3.3 percent in September compared to the previous year. The rising cost of labor, combined with the increase in material prices, means that implementing new construction projects is currently more expensive than before.
These figures illustrate the general price trend in the construction sector. The rise in costs affects both residential construction and other infrastructure projects across Finland. The development of the situation is being monitored closely, as changes in construction costs have a direct impact on the country's entire economy and the cost of housing.