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As can be seen from Fig. 1, total construction value added steadily increased from around 10 billion euros in 1999 to 2002 to 16.2 billion euros in 2008 in Austria in nominal terms.
In 2009, when nearly all countries went into recession due to the financial crisis, total construction value added fell to 15.5 billion euros, which is a drop of 5% in real terms (the inflation rate was 0.5%) compared to a drop in real GDP of 3.8%.
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With 40% of the total construction cost being in direct and indirect craft labor, there is a need to maximize efficiency and reduce non-value adding activities of the workers (Haas et al. [2011]).
The total construction cost was $7.5 million.
Total construction costs were approximately $15 million, Mr. Apkon said.
Total construction costs are estimated to be $235 million.
Construction managers are usually paid 10 to 15percentt of the total construction cost, he said.
The housing market represents about half the total construction work.
Total construction time is estimated to be 20 months.
Total construction and equipment costs: $1.5 million.
Total construction costs may be much higher.
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