Building Cost Index

The Building Cost Index (BCI) is a measure that tracks changes in the costs of construction over time. It reflects the average prices of materials, labor, and overhead needed to build structures. By monitoring the BCI, stakeholders like builders, architects, and investors can assess whether construction expenses are rising or falling, helping them make informed budgeting and planning decisions. Essentially, the BCI provides a snapshot of the economic landscape in the construction industry, allowing for better forecasting and cost management in building projects.