Construction costs in Turkey increased by 53% during April 2023.

The Turkish Statistical Institute announced that the Construction Cost Index in Turkey recorded an increase of 53% during April 2023, coinciding with a rise in many rates related to building materials and construction works.

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Construction costs in Turkey rise by 53% during the fourth month of 2023

According to statistics related to the Construction Cost Index issued by the Turkish Statistical Institute, the Construction Cost Index in Turkey during the fourth month of this year increased by 1.03% compared to its value in the previous month.

Meanwhile, the increase in the Construction Cost Index in Turkey reached 52.99% compared to its value in the fourth month of the previous year, 2022.

All related indices saw an increase in their values

In details related to the indices associated with the Construction and Building Cost Index in Turkey, statistical figures issued by the Turkish Statistical Institute showed an increase in the value of these indices. The Construction Materials Index during April of this year increased by 1.37% compared to the previous month, and achieved a 39.8% increase compared to its value in April of the previous year, 2022.

The Labor Index for April of this year saw an increase of 0.18% compared to the previous month, and a rise of 102.72% compared to its value in the same month last year.

The Building Works Index increased by 54.55%

Regarding building construction works, statistical figures issued by the Turkish Statistical Institute recorded a monthly increase in the Building Works Index by 0.91%, and a 54.55% increase over the year preceding April of this year.

The Building Materials Index saw a monthly increase of 1.21%, and the annual increase in this index reached 41.14% over the year before April of this year.

The monthly increase in the labor index associated with building construction works was 0.18%, while the annual increase reached 103.02% over the year preceding April of this year.

The increase in the other construction works index reached 48%

The index for construction works other than building construction saw a monthly increase of 1.46% during April of this year, and the annual increase in this index reached 48.01%.

The index for construction materials related to the mentioned index also saw a monthly increase of 1.89%, and an annual increase of 35.67%.

The labor index associated with construction works other than building construction saw a monthly increase of 0.21%, and the annual increase in this index reached 101.61% over the year before April of this year.

Edited by: Imtilak Real Estate©

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