Construction cost index for new residential buildings is a short-term statistical indicator, calculated in accordance with the methodology comparable within the European Union.

Definitions

Construction cost index for new residential buildings characterises changes in the main resources invested in construction during the reporting period in comparison with the base period.

As provided for in the Regulation, for characterising changes in construction costs of new residential buildings, 3 variables must be calculated: construction cost index, material cost index and labour cost index. 

The calculated indicators comply with the input cost indices.

Data Availability

Dissemination Format and Release Calendar

Customised Datasets

If you would like to obtain statistical data that are not available in publications or in the CSB online data base, please send us an information request:
 - postal mail: 1 Lāčplēša Street, Riga, Latvia, LV-1301;
 - e-mail: info [at] csb [dot] gov [dot] lv;
 - visiting Information centre.

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References

If you would like to obtain statistical data to deal with legal formalities (references or certificates for agreements, public procurement, court procedures etc.): Chargeable services/Reference (certificates).

Data collection

Survey method and data source

For the calculation of indicators, the data collected for the calculation of the construction cost index (CCI) are applied: survey on construction resource prices (statistical report form 1-BC); since 2012 – also prices provided by industrial producers and importers (statistical report forms 1-RC and 1-IC), statistical data of wages and salaries regarding the average hourly wages and salaries of all employees (statistical report form 2-darbs).

Target population

Economically active statistical units with the main kind of economic activity belonging to 41.20 to 43.99 (section F), 46.73, 46.74, 47.11 and 47.52 of Statistical Classification of Economic Activities in the European Communities (NACE Rev. 2).

The list of construction enterprises-respondents is selected by means of target sampling, choosing the enterprises with the highest value of own account construction work (NACE Section F) in the previous year. The sampled construction enterprises differ in specialisation and represent various regions of Latvia. The criterion for the sample of trade enterprises is their turnover and specialisation.

For the calculation for the labour cost index, information provided by the enterprises included in the CCI survey is used (NACE 41.20, 42.21, 42.22 and 43).

Sample Size

In 2017, the data on prices of construction resources are provided by approximately 190 construction enterprises with the highest value of own account construction works in 2016 and more than 40 trade enterprises. The share of enterprises with the value of own account construction work exceeding EUR 1 million per year accounted for 72 %, in 26 % of which the value of own account construction work exceeded EUR 5 million per year.

Statistical Processing

Calculation Methods

For the calculation of the CCI the approach of unified models is used. The structure of dwellings is represented by model of construction: multi-dwelling residential buildings that contains a set volume of expenditure on building materials, labour force and construction equipment.

For the calculation of the material cost index, prices of building materials provided by construction enterprises and trade enterprises (statistical report form 1-BC), by industrial enterprises (1-RC) and importers (1-IC) are used. The prices do not include the VAT.

For the calculation of the labour cost index the average hourly wages and salaries of the employees in the construction sector (including social contributions paid by the employer) in the enterprises included in the CCI sample (NACE 41.20, 42,21, 42.22 and 43) are used.

Base Period

Index comparasion (base) period is 2010 (2010 = 100).

Data Revision

If upon using corrected, revised or delayed information in calculations significant (more than 0.1 percentage points) influence on the total construction cost index for new residential buildings throughout the year is found (over the corresponding quarter of the previous year), the published CCI data for the previous period are corrected. The revised indices are published together with the data of the following reporting period, with a note on correction.

In separate cases, due to the specifics of electronic data processing technologies and rounding adjustments, slight discrepancies may occur between the published data and calculations made by data users.

Comparability

Comparability over time

Comparable data are available since 2006.

International comparability

Eurostat

The Statistical Office of the European Union (Eurostat) in its home page publishes Construction Cost Indices for New Residential Buildings for the EU, Eurozone and for each country separately. For the calculation of the data published by Eurostat statistical information of the construction enterprises included in the CCI sample on average hourly labour costs of all employees is used. In its turn, the CSB for the calculation of the CCI uses gross wages and salaries of workers in construction.

Database/ Industry, trade and services/ Short-term business statistics/ Construction, building and civil engineering (NACE F) (t_sts_cons)/ New residential buildings - prices index (sts_cons_pri) or enter data code teiis510 in the Eurostat home page search engine.

http://ec.europa.eu/eurostat

Confidentiality

Confidentiality of the information provided by respondents is protected by the Section 17 of the Statistics Law stipulating rights and obligations of the Central Statistical Bureau of Latvia and other state authorities producing official statistics. Read more

Contact person on methodology

Name Surname Phone number Position E-mail
Aļona Ivanova +371 67366884 Senior officer Alona [dot] Ivanova [at] csb [dot] gov [dot] lv

Last update

06.06.2017

Construction Cost Indices

Construction output

Construction volume index

House Price Index

Explanation of symbols

-

Magnitude zero

0

Less than half of the unit employed

...

Data not available or too uncertain for presentation

X

Figure not applicable because column heading and stub line make entry impossible, absurd or meaningless

.

Data not released for confidentiality reasons

If data are absolute numbers

0

Magnitude zero