Turkey construction cost index announced

Turkish Statistical Institute (TurkStat) published the Construction Cost Index, May 2023 data.

Accordingly, construction cost index increased by 0.54 percent in May 2023 compared to the previous month and 47.95 percent compared to the same month of the previous year.

Compared to the previous month, material index increased by 0.28 percent and labor index increased by 1.23 percent. In addition, compared to the same month of the previous year, the material index increased by 33.55 percent and the labor index increased by 104.83 percent.

Building construction cost index increased by 49.97 percent annually and 0.77 percent monthly

Building construction cost index increased by 0.77 percent compared to the previous month and 49.97 percent compared to the same month of the previous year. Compared to the previous month, the material index increased by 0.60 percent and the labor index by 1.17 percent. On the other hand, the material index increased by 35.38 percent and the labor index by 105.27 percent compared to the same month of the previous year.

The construction cost index for non-building structures decreased by 0.22 percent compared to the previous month and increased by 41.50 percent compared to the same month of the previous year. Compared to the previous month, the material index decreased by 0.78 percent, while the labor index increased by 1.42 percent. In addition, compared to the same month of the previous year, the material index increased by 27.93 percent and the labor index increased by 103.18 percent.