According to the statistics released by the Turkish Statistical Institute (TUIK), in the third quarter of this year Turkey's building construction cost index increased by 1.6 percent quarter on quarter and was up 10.6 percent compared to the same period of 2013.
Meanwhile, in the third quarter of the current year, the labor index component of the construction cost index in Turkey increased by 1.7 percent, while another component of the construction cost index, the material index, increased by 1.6 percent, both compared to the previous quarter. The year-on-year increase rates of these indices were 10.4 percent and 10.7 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.