Between 2020 and 2021, the cost of erecting a building in Spain has increased by almost nine index points. In fact, the index value of 2021 is the highest point in the timeline. The index grew from 98.8 in 2016 to 111.6 in 2021. The total construction costs and the residential building costs also experienced an upward trend.
Building erection cost index in the construction industry in Spain from 2005 to 2021
The construction cost index ponders the indices on labor force and on intermediate consumption.
The cost of labor comprises the sum of gross wages and salaries and social contributions. Meanwhile, intermediate consumption in the construction sector comprises the cost of raw materials, the cost of energy and the cost of miscellaneous expenditure.
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Ministerio de Fomento (España). (February 14, 2022). Building erection cost index in the construction industry in Spain from 2005 to 2021 [Graph]. In Statista. Retrieved August 09, 2022, from https://www.statista.com/statistics/772149/index-from-cost-from-the-building-in-edification-total-in-spain/
Ministerio de Fomento (España). "Building erection cost index in the construction industry in Spain from 2005 to 2021." Chart. February 14, 2022. Statista. Accessed August 09, 2022. https://www.statista.com/statistics/772149/index-from-cost-from-the-building-in-edification-total-in-spain/
Ministerio de Fomento (España). (2022). Building erection cost index in the construction industry in Spain from 2005 to 2021. Statista. Statista Inc.. Accessed: August 09, 2022. https://www.statista.com/statistics/772149/index-from-cost-from-the-building-in-edification-total-in-spain/
Ministerio de Fomento (España). "Building Erection Cost Index in The Construction Industry in Spain from 2005 to 2021." Statista, Statista Inc., 14 Feb 2022, https://www.statista.com/statistics/772149/index-from-cost-from-the-building-in-edification-total-in-spain/
Ministerio de Fomento (España), Building erection cost index in the construction industry in Spain from 2005 to 2021 Statista, https://www.statista.com/statistics/772149/index-from-cost-from-the-building-in-edification-total-in-spain/ (last visited August 09, 2022)
