The annual rate of increase in construction costs decreased to 53 percent

According to TURKSTAT, the construction cost index increased by 1.03 percent in April 2023 compared to the previous month and 52.99 percent compared to the same month of the previous year.

Compared with the previous month, the material index increased 1.37 percent and the labor index increased 0.18 percent. In addition, the material index increased by 39.80 percent and the labor index increased by 102.72 percent compared to the same month of the previous year.

The building construction cost index increased 0.91 percent from the previous month and increased 54.55 percent from the same month a year earlier. Compared with the previous month, the material index increased 1.21 percent and the labor index increased 0.18 percent. In addition, the material index increased by 41.14 percent and the labor index increased by 103.02 percent compared to the same month of the previous year.

The non-building structure construction cost index increased 1.46 percent from the previous month and 48.01 percent from the same month of the prior year. Compared with the previous month, the material index increased 1.89 percent and the labor index increased 0.21 percent. In addition, the material index increased by 35.67 percent and the labor index increased by 101.61 percent with respect to the same month of the previous year.