Construction costs continue to rise

Turkish Statistical Institute announced the construction cost index data for September. Accordingly, the index increased by 1.57 percent in September compared to the previous month and increased by 119.83 percent compared to the same month of the previous year.

On a monthly basis, the material index increased by 2.07 percent, while the labor index decreased by 0.07 percent. On an annual basis, the material index increased by 133.4 percent and the labor index increased by 84.04 percent.

Building construction cost index increased by 2.1 percent in September compared to the previous month and increased by 117.11 percent compared to the same month of the previous year. Compared to the previous month, the material index increased by 2.82 percent, while the labor index decreased by 0.17 percent. The material index increased by 129.87 percent compared to the same month of the previous year, and the labor index increased by 84.15 percent.

Construction cost index for non-building structures decreased by 0.13 percent in September compared to the previous month and increased by 129.18 percent compared to the same month of the previous year. Compared to the previous month, the material index decreased by 0.24 percent and the labor index increased by 0.3 percent. In September, compared to the same month of the previous year, there was an increase of 145.25 percent in the material index and 83.62 percent in the labor index.