Construction cost index increased by 72.4 percent annually

There was an increase on a monthly and annual basis

According to the official data published by TUIK, the construction cost index increased by 2.08% in February 2023 compared to the previous month and by 72.37% compared to the same month of the previous year. Compared to the previous month, the material index increased by 3.43%, the labor index decreased by 1.20%. In addition, the material index increased by 62.52% and the workmanship index increased by 103.99% compared to the same month of the previous year.

Building construction cost index increased by 73.73% y-o-y

Building construction cost index increased by 2.43% compared to the previous month and increased by 73.73% compared to the same month of the previous year. Compared to the previous month, the material index increased by 4.02% and the labor index decreased by 1.32%. In addition, the material index increased by 63.88% and the labor index increased by 104.10% compared to the same month of the previous year.

On the other hand, the construction cost index increased by 67.94% y-o-y in non-building structures.

Construction cost index for non-building structures increased by 0.94% compared to the previous month and increased by 67.94% compared to the same month of the previous year.