Increase in construction cost index

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

Accordingly, the index rose by 2.11 percent compared to the previous month and by 69.98 percent compared to the same month of the previous year in March.

On a monthly basis, the material index increased by 2.54 percent and the labor index by 1.3 percent.

On an annual basis, the material index recorded an increase of 55.17 percent, while the labor index rose by 108.04 percent.

The building construction cost index rose by 2.14 percent in March compared to the previous month and by 68.44 percent compared to the same month of the previous year. In March, the material index increased by 2.64 percent and the labor index by 1.24 percent compared to the previous month. Compared to March 2023, the material index showed an increase of 52.77 percent and the labor index an increase of 107.45 percent.

The construction cost index for non-building structures rose by 2.03 percent in March compared to the previous month and by 75.15 percent compared to the same month of the previous year. For these structures, the material index increased by 2.25 percent compared to the previous month, while the labor index recorded an increase of 1.54 percent. An increase of 62.93 percent was observed in the material index and 110.27 percent in the labor index on an annual basis.

News Source: AA