06 Jan 2017
RICS Data Services will shortly circulate the 2017 construction survey to 37 European countries. The survey forms an integral part of its three-year contract to deliver Construction Purchasing Power Parities (PPPs) for Eurostat, the statistical office of the European Commission.
The survey requires the pricing of eight Bills of Quantities (BQs) per country: four representing residential projects, two for non-residential projects and two for civil engineering projects. The price levels collected via these BQs enable the calculation of PPPs for construction, which provide a spatial indication of price movement across the European construction market.
The output from this work feeds directly into the estimates of inter-country comparisons of GDP (in real terms) and its component expenditures.
Data collection and validation
The primary focus of the project involves data collection, validation and country visits to estimate price-level indicators for construction across European member states.
RICS Data Services recently presented their approach to deliver the work to the 37 National Statistic Institutes (NSIs) in Luxembourg. The team’s remit includes the on-going development of the survey and the inclusion of further measures to assess price-level movement in "repair and maintenance" construction — believed to be under-represented in the current survey. Renovation construction now accounts for an increasing proportion of all construction work undertaken in Europe — over 50% in 2015.
RICS Data Services will provide further updates on this important work as it progresses.
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