In the third quarter this year, Turkey's building construction cost index increased 4.8 percent quarter on quarter and was up 22.1 percent year on year, according to the statistics released by the Turkish Statistical Institute (TUIK).
Meanwhile, in the given quarter, the labor index component of the construction cost index in Turkey increased by two percent, while another component of the construction cost index, the material index, increased by 5.6 percent, both compared to the previous quarter. The year-on-year increase rates of these indices were 12.9 percent and 25.1 percent respectively.
In the July-September period of this year, 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.