According to the statistics released by the Turkish Statistical Institute (TUIK), in the fourth quarter of 2013 Turkey's building construction cost index increased 1.2 percent quarter on quarter and was up 7.2 percent compared to the same period of 2012.
Meanwhile, in the fourth quarter last year, the labor index component of the construction cost index in Turkey increased by 1.3 percent, while another component of the construction cost index, the material index, increased by 1.1 percent, both compared to the third quarter. The year-on-year increase rates of these indices were 7.3 and 7.1 percent respectively.
In the building construction cost index, the input portion of general construction material was 64.5 percent, the share of installation materials was 14.2 percent, while the share of labor costs was 21.3 percent.