Construction price indices now calculated with new base year 2005
WIESBADEN – As reported by the Federal Statistical Office (Destatis), the price index for conventionally constructed new residential buildings (construction work performed at the building, including value-added tax), which for the first time was calculated with the new base year 2005 = 100, rose 3.3% in August 2008 compared with the same month a year earlier. In May 2008, the price index increased 2.8% on a year earlier. Compared with May 2008, the price index for residential buildings rose 1.0% in August 2008. Concerning non-residential buildings, the price index was up 3.7% for office buildings and up 4.5% for industrial buildings. For road construction the price index rose 5.2% compared with the corresponding month of the preceding year.
