According to the statistics released by the Turkish Statistical Institute (TUIK), in the third quarter of 2012 Turkey's building construction cost index remained almost stable quarter on quarter with slight increase of 0.1 percent and was up 2.86 percent compared to the corresponding period of the previous year.
Meanwhile, in the third quarter of this year, the labor index component of the construction cost index in Turkey increased by 0.67 percent, while another component of the construction cost index, the material index, decreased by 0.06 percent, both compared to the second quarter of this year. The year-on-year increase rates of these indices were 5.7 percent and 2.04 percent respectively.
The input portion of general construction materials in the building construction cost index was 64.5 percent, the share of installation materials was 14.2 percent, while the share of labor costs was 21.3 percent.