According to the statistics released by the Turkish Statistical Institute, in the second quarter of 2011 building construction costs in Turkey increased by 4.35 percent quarter on quarter and were up 12.76 percent compared to the same quarter of the previous year.
Meanwhile, in the second quarter of 2011, the labor costs within building construction costs in Turkey increased by 2.34 percent, while material costs rose by 4.96 percent, both compared to the first quarter of 2011. The year-on-year increase rates of these costs were 6.49 percent and 14.76 percent respectively.
In the given period, the share of general construction materials in building construction costs was 64.5 percent, the share of installation materials was 14.2 percent, while the share of labor costs was 21.3 percent.