Construction costs increased 49.32 percent in June

The Turkish Statistical Institute (TUIK) announced the construction cost index for June 2023.

Thus, the construction cost index increased 4.43 percent in June 2023 compared to the previous month and 49.32 percent compared to the same month of the previous year.

Thus, construction costs, whose rate of increase has slowed since February 2023, returned to an upward trend from June.

Compared with the previous month, the material index increased 5.81 percent and the labor index increased 0.86 percent. In addition, the material index increased by 35.67 percent and the labor index increased by 105.11 percent with respect to the same month of the previous year.

8.3 PERCENT MONTHLY INCREASE IN MATERIALS

The building construction cost index increased 3.83 percent compared to the previous month and increased 51.80 percent compared to the same month of the previous year. Compared with the previous month, the material index increased 5.04 percent and the labor index increased 0.80 percent.

In addition, the material index increased by 37.95 percent and the labor index increased by 105.53 percent with respect to the same month of the previous year.

The non-building structure construction cost index increased 6.45 percent from the previous month and 41.69 percent from the same month of the prior year.

Compared with the previous month, the material index increased 8.33 percent and the labor index increased 1.05 percent. In addition, the material index increased by 28.91 percent and the labor index increased by 103.57 percent compared to the same month of the previous year.