Construction costs continue to rise: Annual increase exceeds 23 percent
According to data for March 2025 published by TUIK, construction costs continue to rise. In the construction cost index, which increased by 1.53 percent on a monthly basis and 23.23 percent on an annual basis, the most notable increase occurred in labor costs. The labor index for non-building structures exceeded 35 percent on an annual basis.
12punto
The Turkish Statistical Institute (TUIK) has published the construction cost index data for March 2025.
INCREASE IN CONSTRUCTION COSTS
In March, the construction cost index increased by 1.53 percent compared to the previous month and rose by 23.23 percent on an annual basis. In the monthly change, there was an increase of 1.95 percent in the material index and 0.8 percent in the labor index. In the annual data, the material index increased by 18.8 percent and the labor index by 31.72 percent.
The building construction cost index increased by 1.45 percent on a monthly basis in March and rose by 23.6 percent compared to the same period last year. In this category, the material index increased by 2 percent monthly, and the labor index by 0.54 percent. On an annual basis, the material index rose by 19.68 percent and the labor index by 30.77 percent.
INCREASE IN LABOR INDEX
The construction cost index for non-building structures showed an increase of 1.79 percent compared to the previous month in March and 22.05 percent on an annual basis. For these structures, the material index increased by 1.82 percent monthly in March, and the labor index by 1.74 percent. In the annual change, an increase of 16.14 percent was recorded in the material index and 35.22 percent in the labor index.