Construction price index increased 3.1 pct in 2011

According to Statistics Estonia, the construction price index increased 3.1% in 2011 compared to the average of 2010, of which labour force 7.6%, building machines 2.0% and building materials 1.5%.

The change of the construction price index was 2.0% in the 4th quarter of 2011 compared to the 3rd quarter and 4.5% compared to the 4th quarter of 2010. Compared to the 4th quarter of 2010, the construction price index was mainly influenced by more expensive labour force, which gave almost two thirds of the total increase. Compared to the 3rd quarter of 2011, the impact of the labour force was even bigger and gave over 70% of the quarterly change.

The repair and reconstruction work price index increased 3.8% in 2011 compared to the average of 2010, of which labour force 7.5%, building machines 4.3% and building materials 1.9%.

The percentage change of the repair and reconstruction work price index in the 4th quarter of 2011 was 2.7% compared to the 3rd quarter and 5.8% compared to the 4th quarter of 2010.

The calculation of the construction price index covers four groups of buildings – detached houses, blocks of flats, industrial buildings and office buildings, as well as office buildings covered by the repair and reconstruction work price index. The construction price index expresses the change in the expenditures on construction taking into consideration the price changes of basic inputs: labour force, building materials and building machines.

Change in the construction price index

4th quarter 2011

  3rd Q 2011 –
4th Q 2011, %
4th Q 2010 –
4th Q 2011, %
TOTAL 2.0 4.5
labour force 5.5 11.2
building machines 0.4 3.3
building materials 0.7 2.0
Index of detached houses 2.6 5.4
Index of blocks of flats 2.0 4.7
Index of industrial buildings 2.0 4.4
Index of office buildings 1.9 4.1

 

Change in the repair and reconstruction work price index, 4th quarter 2011
  3rd Q 2011 –
4th Q 2011, %
4th Q 2010 –
4th Q 2011, %
TOTAL 2.7 5.8
labour force 6.0 11.5
building machines 0.6 5.5
building materials 1.2 3.0
 
Source: Statistics Estonia

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Three companies interested in taking over the Tallinn plant of Elcoteq

In addition to French electronics manufacturer Eolane, also two other companies are considering a bid for Elcoteq Tallin, a subsidiary of the bankrupt Finnish electronics assembly group Elcoteq SE.

Jan Kotka, CEO of Elcoteq Tallinn, said that sales negotiations were ongoing with all three companies, but declined to name the other two because they were listed companies.

Kotka said that the Luxembourg-based bankruptcy administrator of Elcoteq SE had told him that the sale of Elcoteq Tallinn could be closed already in January.

Annual revenues of Elcoteq Tallinn were 4.6 million euros in 2010 and the company made a profit of 136,000 euros.

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