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The construction price index expresses the change in construction expenditures at the level of direct costs on the construction site, which are divided into three basic groups: labour force, building machines, and building materials. The calculation of the construction price index covers four groups of buildings: detached houses, blocks of flats, industrial buildings, and office buildings. The repair and reconstruction work price index covers office buildings. Ülo Paulus, leading analyst at Statistics Estonia, pointed out that, both year on year and compared with the previous quarter, the rise
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Today, houses, offices and other buildings are constructed faster than ever before. As a result of the development of the construction sector, buildings, bridges, stadiums and roads can be built in shorter time and with less resources. Construction covers building construction and civil engineering works, reconstruction, expansion and demolition. Construction enterprises are primarily active in the domestic construction market. Thus, general economic development in the country has an impact on the construction sector. When the economy is growing fast, construction volumes are large; when
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According to Statistics Estonia, in the second quarter of 2022, the construction price index increased by 4.9% compared with the first quarter of 2022 and by 18.8% compared with the second quarter of 2021.