Annual increase in construction costs fell to 78.40 percent in December
The Turkish Statistical Institute (TUIK) announced the construction cost index for December 2022.
Consequently, the construction cost index increased 1.44 percent in December 2022 compared to the previous month and 78.40 percent compared to the same month of the previous year.
Source: TURKSTAT
MATERIAL INCREASED 76 PERCENT, LABOR INCREASED 87.4 PERCENT
Compared with the previous month, the material index increased 1.53 percent and the labor index increased 1.16 percent. In addition, the material index increased by 75.93 percent and the labor index increased by 87.41 percent with respect to the same month of the previous year.
The building construction cost index rose 1.98 percent from the previous month and rose 78.31 percent from the same month a year earlier. Compared with the previous month, the material index increased 2.23 percent and the labor index increased 1.16 percent. In addition, the material index increased by 75.63 percent and the labor index increased by 87.79 percent with respect to the same month of the previous year.
The non-building structure construction cost index decreased 0.28 percent from the prior month and increased 78.70 percent from the same month of the prior year. Compared with the previous month, the material index decreased 0.66 percent and the labor index increased 1.19 percent. In addition, the material index increased by 76.89 percent and the labor index increased by 85.98 percent with respect to the same month of the previous year.