According to the statistics released by the Turkish Statistical Institute (TUIK), in the first quarter of the current year Turkey's building construction cost index increased 1.9 percent quarter on quarter and was up three 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 2.7 percent, while another component of the construction cost index, the material index, increased by 1.6 percent, both compared to the fourth quarter of 2012. The year-on-year increase rates of these indices were 6.7 percent and 1.9 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.