Unstoppable rise in construction costs: Annual increase at 67.31%!
The Turkish Statistical Institute (TÜİK) December Construction Cost Index data shows that the cost increase in the sector continues without slowing down. Accordingly, the construction cost index increased by 1.94% in December compared to the previous month, and by exactly 67.31% compared to the same month of the previous year.
İHA
The Turkish Statistical Institute (TÜİK) has announced the Construction Cost Index for December 2023. Accordingly, the construction cost index increased by 1.94% in December compared to the previous month. Compared to the same period last year, there was an increase of 67.31%. While the material index increased by 2.05% compared to the previous month, the labor index rose by 1.67%. Compared to the same month of the previous year, the material index increased by 54.26% and the labor index by 111.83%.
The building construction cost index increased by 66.42% on an annual basis and by 2.20% on a monthly basis. While the material index showed an increase of 2.46% compared to the previous month, the labor index rose by 1.58%. Compared to the same period last year, the material index increased by 52.72% and the labor index by 111.62%.
The construction cost index for non-building structures showed an increase of 70.28% on an annual basis and rose by 1.13% on a monthly basis. While the material index increased by 0.83% compared to the previous month, the labor index experienced an increase of 2.00%. Compared to the same period last year, the material index increased by 59.18% and the labor index by 112.63%.