The construction cost index in Turkey rises by 60.7% during March 2023

The construction cost index in Turkey rises by 60.7% in March 2023

According to statistics on the construction cost index in Turkey issued by the Turkish Statistical Institute: the construction cost index in Turkey recorded an increase of 2.16% in March 2023 compared to the previous month.

The increase in the construction cost index in Turkey reached 60.70% compared to its value in March 2022.

All related indices recorded an increase in their values

In detail, the indices related to the construction cost index generally showed an increase in value according to the statistics issued by the Turkish Statistical Institute.

The construction materials index in March of this year increased by 2.31% compared to the previous month, and by 48.21% compared to March 2022.

The labor index in March of this year increased by 1.76% compared to the previous month, and by 105.09% compared to the same month last year.

The building construction works index increased by 62.94%

Regarding building construction works, the statistics issued by the Turkish Statistical Institute showed a monthly increase of 2.04% in the building construction works index, and an annual increase of 62.94% over the year preceding March of this year.

The building construction materials index recorded a monthly increase of 2.19%, and an annual increase of 50.49% over the year before March of this year.

The monthly increase in the labor index related to building construction works reached 1.68%, while the annual increase reached 105.16% over the year preceding March of this year.

The increase in the other construction works index reached 53.57%

The other construction works index recorded a monthly increase of 2.54% in March of this year, and an annual increase of 53.57%.

The construction materials index related to the mentioned index recorded a monthly increase of 2.71%, and an annual increase of 41.27%.

The labor index related to other construction works (other than building construction) recorded a monthly increase of 2.06%, and the annual increase in this index reached 104.83% over the year before March of this year.

Edited by: Imtilak Real Estate©