According to the statistics released by the Turkish Statistical Institute (TUIK), in the first quarter of 2012 Turkey's building construction cost index increased by 1.25 percent quarter on quarter and was up 10.4 percent compared to the corresponding period of the previous year.
Meanwhile, in the first quarter of this year, the labor index component of the construction cost index in Turkey increased by 1.9 percent, while another component of the construction cost index, the material index, increased by 1.1 percent, both compared to the fourth quarter of 2011. The year-on-year increase rates of these indices were 5.4 percent and 11.9 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.