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Index of real estate maintenance costs: documentation of statistics

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16.11.2024 valid documentation

Basic data of the statistics

Data description

The index of real estate maintenance costs describes average development in the prices of diverse cost items of real estate maintenance in the whole country, including administration, use and maintenance, upkeep of outdoor areas, cleaning, heating, water supply and sewage, electricity, waste management, insurance against loss or damage, and running maintenance.
The index describes how much the maintenance costs of real estate have risen from the base period when no changes have taken place in the demand of the maintenance cost items

Statistical unit

The data of Statistics Finland's other indices are used in the index of real estate maintenance costs. These include the Consumer Price Index, producer price indices for services, Building Cost Index, Labour Cost Index and volume index of newbuilding.

Unit of measure

The data of the index of real estate maintenance costs are published as index point figures. Change percentages are also calculated based on the indices on the quarterly and annual level.

Base period

The base year of the time of real estate maintenance costs is 2015 (2015=100).

Reference period

The reference period of the index of real estate maintenance costs is one quarter. The statistics are released six months from the end of the statistical reference year.

Reference area

The statistics do not have a regional classification but the data concern the development of the maintenance costs of real estate in the whole country.

Sector coverage

The index of real estate maintenance costs covers descriptions of the cost development of the maintenance of real estate located in Finland.

Time coverage

Data on the cost index of maintenance of real estate by type of building have been published quarterly and annually starting from 2000. Data by cost item and function type have been produced since 2010.

Frequency of dissemination

The data of the statistics are published quarterly on Statistics Finland's website.

Concepts

Capital cost

Capital costs refer to the costs of capital tied to real estate, comprising interests and calculated depreciations. The interest is comprised of the return requirement set on tied capital. Capital costs include costs relating to the purchase and ownership of real estate, and costs relating to encumbrances or statutory obligations.

Consumable

When a piece of real estate is used, materials and supplies are consumed, such as water and electricity, and these are referred to as consumables.

Index real estate

An index estate is a real estate included in the index from whose weighted averages an overall index is calculated. The types of index real estates in the index of real estate maintenance costs are residential block of flats, commercial building, office building, health centre, school building and industrial building. A separate index of real estate maintenance costs is calculated for single-family houses.

Maintenance cost

Maintenance costs include expenditure arising from the management and maintenance of real estate, such as all its service, electricity, heating, water consumption and waste management costs.

Real estate

A real estate is a unit of ownership in a land or water area entered as real estate in the real estate register. Buildings and fixtures owned by the owner of a real estate and located on it belong to the real estate.

Real estate maintenance

Real estate maintenance refers to activity aimed at the preservation of the condition, value and properties of a real estate (Glossary of real estate activity).

Subcontracting

In the index of real estate maintenance costs, subcontracting refers to maintenance services purchased from a third party.

Accuracy, reliability and timeliness

Overall accuracy

The change calculations of the cost level of the index of real estate maintenance costs assume that no major changes will occur in the consumption of the input headings. For example, the index does not take into account the change in heating needs caused by changes in weather conditions between different periods.

Timeliness

The index of real estate maintenance costs is a quarterly index which is published approximately two months after the end of the reference period.

Punctuality

There is no delay in releasing the data of the statistics on the index of real estate maintenance costs. The data are published on the days indicated in the release calendar.

Comparability

Comparability - geographical

The data of the statistics on the index of real estate maintenance costs are regionally comparable for the whole country.

Comparability - over time

The data of the statistics on the index of real estate maintenance costs are comparable from 2015 onwards (2015=100).

Coherence - cross domain

The metadata used in the production of the statistics are available from Statistics Finland’s manufacturing, construction and housing groups.

Source data and data collections

Source data

Data collection

Frequency of data collection

The data for the statistics on the index of real estate maintenance costs are collected monthly.

Methods

Data compilation

The data of different sub-indices are gathered together in the compilation process and the index point figure is calculated.

Data validation

The data of the statistics are validated in the processing process by comparing the change with the data of the comparison period. Observations exceeding the threshold value are checked in a separate processing.

Principles and outlines

Contact organisation

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Contact organisation unit

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Legal acts and other agreements

The compilation of statistics is guided by the Statistics Act. The Statistics Act contains provisions on collection of data, processing of data and the obligation to provide data. Besides the Statistics Act, the Data Protection Act and the Act on the Openness of Government Activities are applied to processing of data when producing statistics.

Statistics Finland compiles statistics in line with the EU’s regulations applicable to statistics, which steer the statistical agencies of all EU Member States.

Further information: Statistical legislation

Confidentiality - policy

The data protection of data collected for statistical purposes is guaranteed in accordance with the requirements of the Statistics Act (280/2004), the Act on the Openness of Government Activities (621/1999), the EU's General Data Protection Regulation (EU) 2016/679 and the Data Protection Act (1050/2018). The data materials are protected at all stages of processing with the necessary physical and technical solutions. Statistics Finland has compiled detailed directions and instructions for confidential processing of the data. Employees have access only to the data essential for their duties. The premises where unit-level data are processed are not accessible to outsiders. Members of the personnel have signed a pledge of secrecy upon entering the service. Violation of data protection is punishable.

Further information: Data protection | Statistics Finland (stat.fi)

Confidentiality - data treatment

The index of real estate maintenance costs follows the data protection practices of the Consumer Price Index, producer price indices for services, Building Cost Index, Labour Cost Index and volume index of newbuilding.

Release policy

Statistics Finland publishes new statistical data at 8 am on weekdays in its web service. The release times of statistics are given in advance in the release calendar available in the web service. The data are public after they have been updated in the web service.

Further information: Publication principles for statistics at Statistics Finland

Data sharing

The index of real estate maintenance costs is produced from the data of different indices. There are no data agreements directly concerning the index.

Accessibility and clarity

Statistical data are published as database tables in the StatFin database. The database is the primary publishing site of data, and new data are updated first there. When releasing statistical data, existing database tables can be updated with new data or completely new database tables can be published.

In addition to statistical data published in the StatFin database, a release on the key data is usually published in the web service. If the release contains data concerning several reference periods (e.g. monthly and annual data), a review bringing together these data is published in the web service. Database tables updated at the time of publication are listed both in the release and in the review. In some cases, statistical data can also be published as mere database releases in the StatFin database. No release or review is published in connection with these database releases.

Releases and database tables are published in three languages, in Finnish, Swedish and English. The language versions of releases may have more limited content than in Finnish.

Information about changes in the publication schedules of releases and database tables and about corrections are given as change releases in the web service.

The data of the index of real estate maintenance costs are published on the stat.fi web pages as a release and a database table. The statistics are available as a PDF publication and Excel table packages. Real estate tax and plot rent are not included in the index of real estate maintenance costs 2015=100. A special index expanded with these cost items and indices with old base years are available in the Built environment service.

Data revision - policy

Revisions – i.e. improvements in the accuracy of statistical data already published – are a normal feature of statistical production and result in improved quality of statistics. The principle is that statistical data are based on the best available data and information concerning the statistical phenomenon. On the other hand, the revisions are communicated as transparently as possible in advance. Advance communication ensures that the users can prepare for the data revisions.

The reason why data in statistical releases become revised is often caused by the data becoming supplemented. Then the new, revised statistical figure is based on a wider information basis and describes the phenomenon more accurately than before.

Revisions of statistical data may also be caused by the calculation method used, such as annual benchmarking or updating of weight structures. Changes of base years and used classifications may also cause revisions to data.

Quality assessment

The quality of the statistics on the index of real estate maintenance costs is evaluated at different stages of the statistical process.

The index of real estate maintenance costs can also be used for long-term comparisons, when account is taken of the above-described changes in the input structure and volume over time. The average cost development indicated by the index of real estate maintenance costs can be examined relative to the data produced by other organisations operating in the real estate field.

The coverage of the renewed 2015=100 index differs from the indices of earlier base years in that it does not include real estate tax and plot rent.

Quality assurance

Quality management requires comprehensive guidance of activities. The quality management framework of the field of statistics is the European Statistics Code of Practice (CoP). The quality criteria of Official Statistics of Finland are compatible with the European Statistics Code of Practice.

Further information: Quality management | Statistics Finland (stat.fi)

User access

Data are released to all users at the same time. Statistical data may only be handled at Statistics Finland and information on them may be given before release only by persons involved in the production of the statistics concerned or who need the data of the statistics concerned in their own work before the data are published.

Further information: Publication principles for statistics

Unless otherwise separately stated in connection with the product, data or service concerned, Statistics Finland is the producer of the data and the owner of the copyright. The terms of use for statistical data.