Analytics, Construction, Lithuania, Real Estate
International Internet Magazine. Baltic States news & analytics
Thursday, 28.03.2024, 22:31
Construction input prices in Lithuania decreased by 0.2% in August
The overall monthly change in prices of construction materials and products was close to zero because an increase in prices of certain construction materials and products was counterbalanced by a decrease in prices of other construction materials and products. As regards construction materials and products, finishing materials went up in price by 0.8, metal products – 0.6%, while pipes went down in price by 0.4, electrical engineering materials – 0.3, insulation materials, concrete and mortar – 0.2% each.
As for buildings and structures, the largest decrease in prices – 0.4% – was observed for the construction of civil engineering structures.
Table 1. Influence on the overall monthly price change (August 2017, against July) by main construction input component group
Construction input component groups |
Price growth, drop (–), % |
Influence, percentage points |
Materials and products |
0.02 |
+0.012 |
Operation of
machines and mechanisms |
0.1 |
+0.004 |
Wages and salaries |
–0.9 |
–0.247 |
The influence on the overall change in construction input prices is determined not only by change in the construction input component price but also by the relative share (weight) of that component in the total value of construction.
Over the year (August 2017, against August 2016), construction input prices increased by 3.3%. This was determined by a 10% increase in wages and salaries, 1.4% – hourly labour costs on operation of construction machines and mechanisms, 0.9% – construction materials and products.
As for buildings and structures, the largest increase in prices was observed for the construction of residential buildings – 4.5%. Renovation of buildings went up in price by 4.7%.
Table 2. Changes in construction input prices by type of structure, August 2017, %
Types of
structures according to CC1 |
Relative share
(weight) of the construction work carried out by type of structure in the
total value of new construction |
Price growth,
drop (–), August 2017, against |
||
July 2017 |
2016 |
|||
December |
August |
|||
All structures |
100.0 |
–0.2 |
2.9 |
3.3 |
Residential buildings |
16.6 |
–0.2 |
4.0 |
4.5 |
One flat houses |
12.9 |
–0.3 |
4.0 |
4.6 |
Blocks of flats |
3.7 |
–0.2 |
3.8 |
4.4 |
Non-residential buildings |
37.9 |
–0.1 |
3.7 |
4.2 |
Administrative |
7.7 |
–0.2 |
3.4 |
3.9 |
Industrial |
20.1 |
0.0 |
3.7 |
4.3 |
Trade |
10.1 |
–0.1 |
3.7 |
4.3 |
Civil engineering units |
45.5 |
–0.4 |
1.9 |
2.0 |
Utility
infrastructure (except for wastewater pipelines) |
27.3 |
–0.4 |
1.8 |
1.8 |
Wastewater pipelines |
4.5 |
–0.2 |
2.3 |
2.8 |
Roads and streets |
13.7 |
–0.2 |
2.1 |
2.2 |
Renovation of buildings |
x |
–0.2 |
4.3 |
4.7 |
x – the indicator is not calculated in such expression
Table 3. Changes in prices for the main construction input component groups, August 2017, %
Construction input component groups |
Relative share
(weight) of construction input component groups in the total value of
construction |
Price growth,
drop (–), August 2017, against |
||
July 2017 |
2016 |
|||
December |
August |
|||
Total construction costs |
100.0 |
–0.2 |
2.9 |
3.3 |
Materials and products |
62.4 |
0.0 |
0.9 |
0.9 |
Operation of
machines and mechanisms |
6.6 |
0.1 |
1.3 |
1.4 |
Wages and
salaries and overheads |
31.0 |
–0.8 |
7.3 |
8.6 |
Wages and salaries |
26.2 |
–0.9 |
8.6 |
10.0 |
Overheads |
4.8 |
0.0 |
–0.1 |
1.2 |
_______________________
1 Classification
of types of Construction – CC
A news release on changes in construction input prices in September 2017 is due on 30 October 2017.
For more information, see the Database of Indicators.