Insee
Informations Rapides · 24 September 2021 · n° 249
Informations rapidesIn Q2 2021, the “Cost-of-Construction Index” rose by 3.88% over a yearConstruction cost index - second quarter 2021

In Q2 2021, the “Cost-of-Construction Index” (CCI) stood at 1,821. It was virtually stable over a quarter (–0.05% after +1.50% in the previous quarter). Over a year, the CCI sped up (+3.88% after +2.94% in the previous quarter).

Informations rapides
No 249
Paru le : Paru le 24/09/2021

In Q2 2021, the “Cost-of-Construction Index” (CCI) stood at 1,821. It was virtually stable over a quarter (–0.05% after +1.50% in the previous quarter). Over a year, the CCI sped up (+3.88% after +2.94% in the previous quarter).

Cost-of-construction index

1953 Q4=100
Cost-of-construction index (1953 Q4=100)
Dates CCI Percentage change over a one-year period (Q/Q-4) %
Q1 2017 1,650 2.17
Q2 2017 1,664 2.59
Q3 2017 1,670 1.64
Q4 2017 1,667 1.34
Q1 2018 1,671 1.27
Q2 2018 1,699 2.10
Q3 2018 1,733 3.77
Q4 2018 1,703 2.16
Q1 2019 1,728 3.41
Q2 2019 1,746 2.77
Q3 2019 1,746 0.75
Q4 2019 1,769 3.88
Q1 2020 1,770 2.43
Q2 2020 1,753 0.40
Q3 2020 1,765 1.09
Q4 2020 1,795 1.47
Q1 2021 1,822 2.94
Q2 2021 1,821 3.88
  • Note: series since 1953 are available on www.insee.fr.
  • Source: INSEE

Cost of construction index

Cost of construction index
Cost of construction index
2014-Q1 1648
2014-Q2 1621
2014-Q3 1627
2014-Q4 1625
2015-Q1 1632
2015-Q2 1614
2015-Q3 1608
2015-Q4 1629
2016-Q1 1615
2016-Q2 1622
2016-Q3 1643
2016-Q4 1645
2017-Q1 1650
2017-Q2 1664
2017-Q3 1670
2017-Q4 1667
2018-Q1 1671
2018-Q2 1699
2018-Q3 1733
2018-Q4 1703
2019-Q1 1728
2019-Q2 1746
2019-Q3 1746
2019-Q4 1769
2020-Q1 1770
2020-Q2 1753
2020-Q3 1765
2020-Q4 1795
2021-Q1 1822
2021-Q2 1821

Cost of construction index

  • Source: INSEE

For more information

Definition

The “Cost of Construction Index” (CCI) is a quarterly index, with reference 100 in the fourth quarter of 1953, the date of its creation. CCI measures the production price change of new dwellings – excluding communities such as care homes, workers’hostels, halls of residence or prisons. It is calculated by INSEE in collaboration with the Ministry of ecological Transition. It is published in the Journal Officiel in the end of the third month following the quarter under review.

Although established by usage, the words "Cost of Construction Index" makes a misnomer since it is a production price index (hence not a cost index), based on the observation of construction contracts between the clients and the firms delivering the building works, excluding other components that enter into the global cost of purchasing (land cost, costs associated with the Development of building projects, financing costs, etc.). The cost of construction itself is apprehended by other indices, such as the producer cost index in construction of buildings (group 41.2) calculated and published by INSEE.

The methodological information is available at : https://www.insee.fr/en/metadonnees/source/indicateur/p1626/description

Uses

Under the 2014-626 Act of 18 June 2014 (Article 9) which amends section L145-34 of Commercial Code, two indices can be used for the revision of commercial and other tertiary activities rents:

- the commercial rent index for trade and craft activities;

- the tertiary activities rent index for activities other than trade and craft activities.

The CCI is no longer used for revising commercialrent contracts.

Variations in CCI can be compared to or reconciled with indicators of cost of production factors, such as the cost of production index in construction of buildings (group 41.2) published monthly by INSEE. Moreover, as regards the maintenance and improvement of housing, “IPEA” is the relevant production price index.

The CCI is also used for compiling the volume-price breakdown in the national accounts (for the branch of activity "Construction of Buildings").

Next issue: mid-December 2021

Documentation

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