Building construction costs in Turkey up 4.37 percent in Q1 over Q4

According to the statistics released by the Turkish Statistical Institute, in the first quarter of 2011 building construction costs in Turkey increased by 4.37 percent quarter on quarter and were up 8.44 percent compared to the corresponding period of the previous year.
 
Meanwhile, in the first quarter of 2011, the labor costs within building construction costs in Turkey increased by 2.64 percent, while material costs rose by 4.9 percent, both compared to the last quarter of 2010. The year-on-year increase rates of these costs were 7.32 percent and 8.79 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.