Construction cost index increased by 71.8 percent in April compared to the same period of the previous year. This increase was recorded as the fastest annual increase in construction costs since February 2023.
According to data released by the Turkish Statistical Institute (TurkStat), the construction cost index increased by 71.80 percent in April compared to the same period of the previous year. This increase was recorded as the fastest increase since February 2023.
The monthly increase was realized as 2.12 percent in April.
With the increase in April, the gap between housing inflation and construction cost inflation widened further. Accordingly, this gap approached 20 points in April.According to TURKSTAT data, the material index increased by 2.71 percent compared to the previous month, while the labor index increased by 0.99 percent. In addition, compared to the same month of the previous year, the material index increased by 57.21 percent, while the labor index increased by 109.73 percent.
Building construction cost index increased by 2.14 percent compared to the previous month and increased by 70.50 percent compared to the same month of the previous year. Compared to the previous month, the material index increased by 2.77 percent, while the labor index increased by 0.99 percent. In addition, compared to the same month of the previous year, the material index increased by 55.12 percent, the labor index increased by 109.13 percent.
The construction cost index for non-building structures increased by 2.05 percent compared to the previous month and increased by 76.18 percent compared to the same month of the previous year. Compared to the previous month, the material index increased by 2.52 percent, while the labor index increased by 1.01 percent. In addition, compared to the same month of the previous year, the material index increased by 63.94 percent, the labor index increased by 111.96 percent.
