TÜİK announces: Increase observed in construction costs

The Turkish Statistical Institute (TÜİK) has announced the construction cost index for January 2024. According to the report, the construction cost index increased by 15.70% compared to the previous month and by 67.87% compared to the same month of the previous year. Compared to the previous month, the material index increased by 5.13% and the labor index increased by 41.95%. Furthermore, compared to the same month of the previous year, the material index increased by 53.29% and the labor index increased by 103.46%.

66.90 PERCENT INCREASE IN BUILDING CONSTRUCTION COSTS

The building construction cost index increased by 15.92% compared to the previous month and by 66.90% compared to the same month of the previous year. Compared to the previous month, the material index increased by 4.82% and the labor index increased by 42.35%. Furthermore, compared to the same month of the previous year, the material index increased by 51.58% and the labor index increased by 102.88%.

INCREASE ALSO OBSERVED IN NON-BUILDING CONSTRUCTION COSTS

The construction cost index for non-building structures increased by 14.99% compared to the previous month and by 71.09% compared to the same month of the previous year. Compared to the previous month, the material index increased by 6.06% and the labor index increased by 40.50%. Furthermore, compared to the same month of the previous year, the material index increased by 58.72% and the labor index increased by 105.65%.

News Source: 12punto