Outlays incurred on construction of new residential buildings completed
Outlays incurred on the construction of a building include all costs incurred from the moment of commencement to the moment of completion of the building. These expenditures should include all cubature and extra-cubature costs associated with the execution of the building that can be defined at the moment of completion. In case of completed a building with dwellings to be completed by future users, the costs incurred up to that time are shown. Building costs shall include: costs of acquiring the building plot (i.e., purchase price, perpetual usufruct fees incurred by the investor as well as notary and land mortgage registration fees, development costs of building plot and connection of external media - adiacenian costs, building erection costs - constructions, cost of technical equipment and building fittings, construction equipment associated with the building (equipment ensuring the ability to use the building in accordance with its designation, e.g. connections and fittings including sewage collection and treatment, driveways, fencings, parking lots and places for rubbish cans) - for general usage, additional building costs e.g., spatial planning, documentation, project advisory and expertise services, fees associated with the signing of notary deeds and entry into land registers, supervisions, construction management and settlement of works, financing costs, e.g., procurement of loans and repayment of interest. Building costs shall also include VAT taxes calculated and paid in conjunction with the execution of the given building investment if such taxes are not refundable or deductible from VAT taxes due.
Until 2000, the term defined as "the estimated value of residential buildings completed".