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In 2024 year prices for construction increased by 1.6%

В 2024 году цены на строительство выросли на 1,6%

According to Department of Statistics, in 2024 the Construction Price Index increased by 1.6 percent compared to the 2023 average for 2023. In the fourth quarter of last year the index of prices for construction increased compared with the third quarter by 0,4% and compared with the fourth quarter of 2023 year by 1.3%.In the words of leading analyst of the Department of Statistics Julo Paulus, the increase in the 2024 index in the year compared with the average indicator of 2023 year was most affected by the increase in wages, which was 65% of the increase in the index. “The price index for construction increased in 2024 by 1.6%, while labor has increased by 6,3% and the use of equipment by 1.7%, but prices for materials decreased by 1.1%,” Paulus noted. In the fourth quarter
of 2024 year the index of prices for construction increased compared with the third quarter by 0.4%. Construction materials increased by 0.6%, use of equipment – by 0.3%, spending on labor increased by 0.1%. Compared with the third quarter, the most influence on the growth of the index was prices for construction materials, which newly started to increase: they accounted for 85%
of the growth of the index. The price index for repair and reconstruction work in the fourth quarter of 2024 year increased compared with the third quarter by 0,8% and compared
with the fourth quarter of 2023 year by 0.9%. The Construction Prices index reflects the change in the cost of construction activities at the level of direct expenditures at the construction site and is divided into three major groups: labor force, construction equipment and construction materials. When calculating.index prices for construction consider four groups of buildings: private houses, multifamily
houses,industrialandservicebuildings.Whencalculatingtheindexofpricesforrepairandreconstructionworktheservicebuildingsare considered.

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