Construction costs in Turkey increased by more than 100% during November 2022

According to statistical data issued by the Turkish Statistical Institute "TÜİK", the Construction Cost Index in Turkey recorded an increase of 1.17% in November 2022 compared to the previous month, while the annual increase in the Construction Cost Index during the mentioned month reached 103.47%.

All related indices saw an increase in their values

In the details regarding the indices related to the Construction Cost Index, the statistical figures issued by the Turkish Statistical Institute recorded an increase in the value of these indices. The Construction Materials Price Index in November 2022 increased by 1.09% compared to the previous month, and by 108.55% compared to its value in November 2021.

As for the Labor Index in November of this year, it also saw an increase of 1.47% compared to the previous month, and an increase of 87.92% compared to its value in the same month of 2021.

The Building Construction Works Index increased by 101.48% year-on-year

Regarding building construction works, the figures issued by the Turkish Statistical Institute showed an increase in the Building Construction Works Index nationwide by 1.23% monthly and by 101.48% over the previous year.

The Building Construction Materials Index recorded a monthly increase of 1.14%, and the annual increase in this index reached 105.94% over the year before November 2022.

The monthly increase in the Labor Index related to building construction works was 1.52%, while the annual increase reached 88.16% in the year before November of last year.

The annual increase in the Other Construction Works Index reached 110.16%

The Other Construction Works Index saw a monthly increase of 0.99% in November 2022, and the annual increase in this index was 110.16% over the year before November 2022.

The Construction Materials Index related to other construction works saw a monthly increase of 0.90% and an annual increase of 117.07%.

The Labor Index related to other construction works saw a monthly increase of 1.32%, and the annual increase in this index was 87.03% over the year before August of last year.

Edited by: Imtilak Real Estate

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