Construction costs in Turkey witnessed an increase during the eighth month of 2022.

According to statistical data issued by the Turkish Statistical Institute "Tüik," the construction cost index in Turkey saw an increase of 1.98% in August compared to the previous month.

The annual increase in the construction cost index during the eighth month of this year reached 116.98%.

All related indices saw an increase in their values

In the details related to the indices associated with 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 index in August of this year rose by 2.23% compared to the previous month, and by 129.61% compared to August of last year.

The labor index in August of this year increased by 1.16% compared to the previous month, and by 83.84% compared to the same month last year.

The building works index increased by 113.05%

Regarding building construction works, the statistical data issued by the Turkish Statistical Institute showed an increase in the building construction works index by 2.25% monthly, and by 113.05% over the year preceding August of this year.

The building materials index saw a monthly increase of 2.61%, and the annual increase in this index reached 124.38% over the year before August of this year.

The monthly increase in the labor index related to building construction works was 1.17%, while the annual increase was 83.97% over the year before August of this year.

The increase in the other construction works index reached 130.51%

The index for construction works other than building construction saw a monthly increase of 1.10% during August of this year, and the annual increase in this index was 130.51% over the year preceding August 2022.

The construction materials index associated with this index also saw a monthly increase of 1.09% and an annual increase of 147.2%. The labor index related to construction works other than building construction saw a monthly increase of 1.13%, and the annual increase in this index was 83.36% over the year before August of this year.

Edited by: Imtilak Real Estate

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