The Construction Cost Index dropped by 0.64% in the second quarter of 2020 compared to the First Quarter of 2020, as the residential building prices dropped by 0.66%, while the non-residential building prices dropped by 0.54%.
Comparing the Construction Cost Index of the Second Quarter of 2020 with that of the Second Quarter of 2019, a drop of 1.76 of construction prices is noted, whereas the residential building prices dropped by 1.83%, while the non-residential building prices dropped by 1.52%.
| Construction Cost Transactions during the Second Quarter of 2019 Compared to the First Quarter of 2020 (Quarterly Change)
Construction Cost General Index dropped by 0.64%, as prices of materials used in construction of buildings dropped by 1.08%, as a result of the drop of the prices of Mining and Quarrying by 1.13% and Manufacturing by 1.07%.
Construction costs dropped by 0.66% for residential buildings, as the prices of materials used in construction of residential buildings dropped by 1.09%, as a result of drop of prices of Mining and Quarrying by 1.13% and Manufacturing by 1.09%.
Whereas construction costs dropped by 0.54% for non-residential buildings, as the prices of materials used in construction of non-residential buildings dropped by 1.02%, as a result of drop of prices of Mining and Quarrying by 1.15% and Manufacturing by 1.01%.
| Construction Cost Transactions during the Second Quarter of 2020 Compared to the Second Quarter of 2019 (Annual Change)
Annually, the Construction Cost Index dropped by 1.76%, as the prices of materials used in construction of buildings dropped by 2.95%, as a result of the drop of the prices of Mining and Quarrying by 5.71% and Manufacturing by 2.79%.
Further, construction costs dropped by 1.37% for residential buildings, as the prices of materials used in construction of residential buildings dropped by 2.98%, as a result of drop of prices of Mining and Quarrying by 5.71% and Manufacturing by 2.81%.
Whereas construction costs dropped by 1.52% for non-residential buildings, as the prices of materials used in construction of non-residential buildings dropped by 2.85%, as a result of drop of prices of Mining and Quarrying by 5.72% and Manufacturing by 2.71%.
Whereas the prices of Hiring of Equipment, Labor Wages and Other Costs were stabilized for all types of buildings since the Second Quarter of 2019.