The slowdown in the pace of construction cost increases in Türkiye continues. According to the Turkish Statistical Institute (TUIK), the Construction Cost Index rose by 1.24% monthly and 23.94% annually in February 2025. In January, the annual increase had been recorded at 26.61%.
According to the data, the material index increased by 1.99% compared to the previous month, while the labor index decreased slightly by 0.02%. On an annual basis, the material index rose by 19.49%, and the labor index by 32.38%.
Last month, the annual increase in construction costs had reached the lowest level since December 2020.
The building construction cost index rose by 1.13% compared to the previous month and by 24.44% compared to the same month last year. Monthly, the material index increased by 1.97%, while the labor index fell by 0.23%. On an annual basis, the material index rose by 20.43% and the labor index by 31.68%.
For non-building structures, the construction cost index rose by 1.59% monthly and 22.34% annually. The material index increased by 2.04%, and the labor index rose by 0.74% compared to the previous month. Annually, the material index increased by 16.64%, and the labor index by 34.97%.
Source: Bloomberght/ Prepared by: İlayda Gök