Real Estate

Turkey: October construction cost index were announced

Turkish Statistical Institute (TUIK) announced the construction cost index for October. Construction cost index increased by 4.75% in October 2021 compared to the previous month and by 41.93% compared to the same month of the previous year.

Construction cost index increased by 4.75% in October 2021 compared to the previous month and by 41.93% compared to the same month of the previous year. Compared to the previous month, the material index increased by 6.15% and the labor index increased by 1.06%. In addition, the material index increased by 50.47% and the labor index increased by 22.62% compared to the same month of the previous year.

BUILDING CONSTRUCTION COST INDEX INCREASED 42.13% ANNUALLY, 4.37% MONTHLY

Building construction cost index increased by 4.37% compared to the previous month and increased by 42.13% compared to the same month of the previous year. Compared to the previous month, the material index increased by 5.69% and the labor index increased by 0.98%. In addition, the material index increased by 50.98% and the labor index increased by 22.64% compared to the same month of the previous year.

CONSTRUCTION COST INDEX FOR NON-BUILDING STRUCTURES INCREASED BY 41.24% ANNUALLY AND 6.04% MONTHLY

Construction cost index for non-building structures increased by 6.04% compared to the previous month and by 41.24% compared to the same month of the previous year. Compared to the previous month, the material index increased by 7.69% and the labor index increased by 1.34%. In addition, the material index increased by 48.78% and the labor index increased by 22.52% compared to the same month of the previous year.

Source: Haberturk / Translated by Irem Yildiz

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