Construction costs in Latvia fell 0.7 percent from the previous month, according to data published by the Central Statistical Bureau (CSB). Building material prices, particularly road construction materials, dropped by 1.6 percent, while operational costs for machinery and equipment decreased by 0.1 percent. Wages, meanwhile, went up 0.6 percent. Costs on the country’s construction market dropped by 1.2 percent y-o-y in April, according to CSB data, with building material prices falling by 4.2 percent. Wages were up by 4.5 percent from the previous year.
Meanwhile, construction output by Estonian builders on their home market and abroad increased by 3 percent in the first three months of the year. The production value totaled €374m for Q1, of which €289m was for building construction and €85m was for civil engineering, according to Statistics Estonia. The total volume of building construction increased by 12 percent y-o-y, while civil engineering was down by about a fifth of its 2015 level.
