According to the statistics released by the Turkish Statistical Institute (TUIK), in the fourth quarter of 2012 Turkey's building construction cost index increased 0.4 percent quarter on quarter and was up 2.3 percent compared to the corresponding period of the previous year.
Meanwhile, in the fourth quarter of last year, the labor index component of the construction cost index in Turkey increased by 0.5 percent, while another component of the construction cost index, the material index, increased by 0.3 percent, both compared to the third quarter of 2012. The year-on-year increase rates of these indices were 5.8 percent and 1.3 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.