ISTANBUL — Türkiye’s construction cost index increased 1.15% month-on-month and 28.33% year-on-year in July, according to data released by the Turkish Statistical Institute (TÜİK).

The increase was driven by higher material and labor costs. On a monthly basis, the materials index rose 1.28%, while the labor index increased 0.92%.

On an annual basis, material costs climbed 27.13%, while labor costs increased 30.51%, according to TÜİK data.

Building construction costs up 28.37% annually

The construction cost index for building construction increased 1.08% month-on-month and 28.37% year-on-year in July.

Within the building construction category, material costs rose 1.21% from the previous month, while labor costs increased 0.86%. Compared with the same month a year earlier, material costs were up 27.34%, and labor costs rose 30.19%.

Non-building construction costs rise 28.19%

The construction cost index for non-building structures increased 1.38% on a monthly basis and 28.19% annually in July.

Material costs in this category rose 1.49% from the previous month, while labor costs increased 1.15%. On an annual basis, material costs climbed 26.50%, while labor costs jumped 31.65%.

Source: Patronlar Dünyası/ Prepared by: İlayda Gök