Turkish Statistical Institute (TÜİK) announced the construction cost index data for January 2025. Accordingly, construction cost index increased by 9.1% in January compared to the previous month and by 26.61% compared to the same period of the previous year.
On a monthly basis, the material index increased by 1.96% and the labor index by 23.58%, while on an annual basis, the material index increased by 22.39% and the labor index by 34.37%.
Building Construction Costs Increased
Building construction cost index increased by 9.39% in January compared to the previous month and by 27.09% compared to the same month of the previous year. In the same period, material index increased by 1.91% m/m and labor index increased by 24.14%. On an annual basis, the materials and labor indices increased by 23.28% and 33.76%, respectively.
Increase in Non-Building Structures
Construction cost index for non-residential buildings increased by 8.13% m/m and 25.05% y/y in January. In these buildings, the material index increased by 2.14% mom and the labor index increased by 21.58%. On an annual basis, material index increased by 19.67% and labor index by 36.65%.
The continued increase of costs in the construction sector is closely monitored by the sector representatives.
Comments
No comment yet.