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Source: Destatis Federal Statistical Office

Construction prices unchanged compared to August 2019

Press release No. 398 from October 9, 2020

WIESBADEN – The prices for the new construction of conventionally manufactured residential buildings in Germany were at the same level in August 2020 as in August 2019. The main reason for this is the VAT cut that has been in effect since July 2020. As the Federal Statistical Office (Destatis) also reports, there was a stagnation in construction prices compared to the previous year in August 2003. In May 2020, the last month surveyed, the year-on-year price increase was 3.0%. Compared to May 2020, construction prices fell by 2.2% in August 2020.

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Without a reduction in VAT, building prices would have increased by 2.6% in purely mathematical terms

All prices refer to construction work on the structure including VAT. The calculation basis for this is formed by prices for construction works without VAT. The value added tax is automatically added. If the tax rate had remained unchanged, the price increase compared to the same month last year would have been mathematically 2.6%.

The prices for structural work on residential buildings decreased by 0.4% from August 2019 to August 2020. Concrete and masonry work have the largest share in the shell work and also in the overall index for new residential buildings. Concrete work has become 0.9% cheaper than in August 2019, masonry work by 0.3%. The prices for roofing and waterproofing work increased by 0.2%, earthworks were 0.3% more expensive than in August 2019, carpentry and wood construction work cost 0.6% less than in the previous year.

The prices for finishing works increased by 0.3% in August 2020 compared to the previous year. Among the finishing works, the carpentry work has the largest share in the price index for residential buildings. For these, the prices fell by 0.1%. For heating systems and central water heating systems, they rose by 0.9%, for low and medium voltage systems by 1.2%. Metal construction prices increased by 0.5%.

The prices for maintenance work on residential buildings (excluding cosmetic repairs) increased by 0.6% compared to the previous year. The new building prices for office buildings rose by 0.1%, the prices for commercial buildings remained unchanged. In road construction, prices fell by 0.9% compared to August 2019.

Construction price indices 12015 = 100
Year month
Residential building 2
Office building 2
Commercial building 2
Road construction
Maintenance of residential buildings 3
1 Including sales tax. 2 New buildings of conventional construction (without prefabricated houses). 3 Without cosmetic repairs.
index
2015
100
100
100
100
100
2016
102.1
102.2
102.1
100.9
102.4
2017
105.3
105.5
105.5
104.7
105.6
2018
109.9
110.2
110.2
111.1
109.8
2019
114.6
115.0
115.1
117.9
114.4
2019
May
114.3
114.6
114.7
117.6
114.0
August
115.1
115.4
115.6
118.6
114.9
November
115.7
116.1
116.2
118.9
115.6
2020
February
117.2
117.6
117.7
120.1
117.5
May
117.7
118.1
118.2
120.5
118.1
August
115.1
115.5
115.6
117.5
115.6
Change compared to the corresponding period of the previous year in%
2015
1.5
1.6
1.6
0.9
2.2
2016
2.1
2.2
2.1
0.9
2.4
2017
3.1
3.2
3.3
3.8
3.1
2018
4.4
4.5
4.5
6.1
4.0
2019
4.3
4.4
4.4
6.1
4.2
2019
May
4.7
4.7
4.7
7.0
4.3
August
4.1
4.1
4.1
5.5
4.1
November
3.8
3.9
3.8
4.6
4.1
2020
February
3.4
3.4
3.3
3.3
4.0
May
3.0
3.1
3.1
2.5
3.6
August

0.1

-0.9
0.6

Detailed results on the statistics of construction work prices are available from Technical series 17, series 4, “Price indices for the construction industry”. Long time series for the construction price indices can be found in the GENESIS-Online database (tables 61261-0001 to 61261-0006) can be called up.

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EDITOR’S NOTE: This article is a translation. Apologies should the grammar and / or sentence structure not be perfect.

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