Increase in the Construction Cost Index in Turkey During the Fifth Month of 2023

According to statistics related to the construction cost index in Turkey, issued by the Turkish Statistical Institute, the construction cost index in the country during the fifth month of this year increased by 0.54% compared to its value in the previous month.

The increase in the construction cost index throughout Turkey during May of this year reached 47.95% compared to its value in the same month of the previous year, 2022.

All related indices saw an increase in their value

In the details related to the indices associated with the construction cost index in Turkey, statistical figures issued by the Turkish Statistical Institute recorded an increase in the value of all these indices. The construction materials index during May of this year increased by 0.28% compared to its value in the previous month, and by 33.55% compared to its value in May of the previous year, 2022.

As for the labor index during May of this year, it saw an increase of 1.23% compared to its value in the previous month, and a value of 104.83% compared to its value in the same month of the previous year.

The construction works index saw an increase of 50%

Regarding building construction works, the statistical figures issued by the Turkish Statistical Institute recorded an increase in the building construction works index by 0.77% monthly and by 49.97% during the year preceding May of this year.

The building construction materials index saw a monthly increase of 0.6%, and the annual increase in this index reached 35.38% during the year before May of this year.

The monthly increase in the labor index related to building construction works was 1.17%, while the annual increase reached 105.27% during the year preceding May of 2023.

The increase in the other construction works index reached 41.5%

The index for construction works other than building construction showed a decrease in the fifth month by 0.22% during May of this year, while the annual increase in this index was 41.50%.

The construction materials index associated with the mentioned index also saw a monthly decrease of 0.78% and an annual increase of 27.93%.

The labor index related to construction works other than building construction showed a monthly increase of 1.42%, while the annual increase in this index was 103.18% during the year before May of this year.

Edited by: Imtilak Real Estate

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