Archive of methodological explanations for the news release:
Construction cost indices for new residential buildings
Status:
27.05.2011
General
The total Construction costs index for new residential buildings is composed of two components: Material costs index and Labour costs index.
The source for calculation of the Material costs index are the data on the industrial producer prices on the domestic market for the materials and elements that are incorporated in the building, while the calculation of the Labour costs index is based on the data on the average monthly gross wages paid per employee in the construction section, by divisions.
Calculation
The Construction costs index for the new residential buildings is calculated as the average of the Material costs index and the Labour costs index.
The weights for the calculation of the total Construction costs index are derived from the annual accounts of the enterprises from the construction section in 2005.
The Material costs index is calculated from 92 selected materials and elements for incorporation in construction, which according to the Prodcom/2008 belong to the following classes:
08.12; 16.10; 16.21; 16.23; 20.30; 20.52; 20.59; 22.21; 22.23; 23.12; 23.31; 23.32; 23.42; 23.51; 23.52; 23.61; 23.62; 23.63; 23.64; 23.69; 23.70; 23.99; 24.10; 25.11; 25.21; 25.93; 27.32.
The indices are calculated by using the Laspeyres formula.
The weights for calculation of the Material costs index are derived from the value of spent building materials from the “Annual report on spent building materials “ in 2005.
The distribution in the construction section is made according to the “Classifcation of types of constructions (CC)”, with the structure of the value of completed works of the “Annual report on constructions on which works have been carried out” in 2005.
The Labour costs index is calculated from the average monthly gross wage per employee in the construction section, by divisions.
The distribution by divisions of the construction section is made according to the “Classifcation of types of constructions (CC)”, with the structure of the value of completed works of the “Annual report on constructions on which works have been carried out” in 2005.
Classifcations applied
The following classifcations have been used in the calculations:
- National Classifcation of Activities (Offcial Gazette No. 147/2008) (NACE Rev.2);
- National Nomenclature of Industrial Products (Offcial Gazette No. 75/2009) (Prodcom/2008);
- Classifcation of types of constructions (CC).
Harmonized with EU regulations
The methodology for calculating the construction cost indices is harmonized with the “Methodology of short-term business statistics” of Eurostat, for the following variables:
- 320 Construction costs;
- 321 Material costs;
- 322 Labour costs.
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