Construction costs at 14-month high

The construction cost index increased by 2.12 percent on a monthly basis and 71.8 percent on an annual basis in April.

The Turkish Statistical Institute (TÜİK) announced the construction cost index data for April.

Accordingly, the index rose by 2.12 percent compared to the previous month and by 71.8 percent compared to the same month of the previous year.

On a monthly basis, the material index increased by 2.71 percent, and the labor index increased by 0.99 percent. On an annual basis, the material index recorded an increase of 57.21 percent, while the labor index rose by 109.73 percent.

The building construction cost index rose by 2.14 percent on a monthly basis and 70.5 percent on an annual basis. On a monthly basis, an increase of 2.77 percent was observed in the material index and 0.99 percent in the labor index. On an annual basis, the material index rose by 55.12 percent and the labor index by 109.13 percent.

The construction cost index for non-building structures increased by 2.05 percent on a monthly basis and 76.18 percent on an annual basis. Compared to the previous month, an increase of 2.52 percent was recorded in the material index and 1.01 percent in the labor index. Compared to the same month of the previous year, an increase of 63.94 percent in the material index and 111.96 percent in the labor index was recorded.