Swedish construction costs rise by 0.3% in April 2023, according to new data from SCB

Sweden’s Construction Cost Index (BKI) for multi-family homes rose by 0.3% in April 2023 compared to March 2023, according to the Statistics Sweden. Compared to April 2022, the index increased by 11.5%. The index covers costs for the contractor, builder, and other miscellaneous expenses for a typical building project. The costs for electricity decreased by 47.1% compared to January 2023, while interest expenses increased by 161.3% between April 2022 and April 2023. The cost for armoured steel saw a decreasing annual change in April, and wood products continue to have decreasing annual changes. The cost of building materials increased by 0.8%, with the cost of carpentry and armoured steel rising by 2.3% and 1.8%, respectively. The cost of wood products rose by 1.6%. The annual rate for multi-family homes has been high since January 2022, and r ent and credit costs rose by 6.0% and 3.4%, respectively.