Turkish Statistical Institute announced the construction cost index data for February.
Accordingly, the index increased by 2.08 percent in February compared to the previous month and by 72.37 percent on an annual basis. On a monthly basis, the material index increased by 3.43 percent, while the labor index decreased by 1.2 percent. On an annual basis, the material index increased by 62.52 percent and the labor index increased by 103.99 percent.
Building construction cost index increased by 2.43 percent in February compared to the previous month and increased by 73.73 percent compared to the same month of the previous year. Compared to the previous month, the material index increased by 4.02 percent, while the labor index decreased by 1.32 percent. In addition, the material index increased by 63.88 percent and the labor index increased by 104.1 percent compared to the same month of the previous year.
Construction cost index for non-building structures increased by 0.94 percent in February compared to the previous month and by 67.94 percent compared to the same month of the previous year. Compared to January 2023, the material index increased by 1.54 percent, while the labor index decreased by 0.74 percent. In addition, an increase of 58.24 percent in the material index and 103.59 percent in the labor index was recorded in February compared to the same month of the previous year.
