According to the statistics released by the Turkish Statistical Institute, in the second quarter of the year Turkey's construction cost index (with 2005 levels = 100) increased by 0.88 percent quarter on quarter, was at the same level compared to the last quarter of 2008, and decreased by 11.16 percent year on year.
In the second quarter of 2009, increases in Turkey's construction sector of 1.22 percent in the labour index and of 0.77 percent in the material index were recorded, both compared to the first quarter this year. Meanwhile, on a year-on-year basis, the labour index in the second quarter increased by 3.69 percent whereas the material index decreased by 14.97 percent.
In the second quarter of the current year, prices of metal materials used in building construction increased by 1.74 percent for residential buildings and by 1.92 percent for other buildings, both compared to Q1 2009. Meanwhile, when compared to Q4 2008, the Q2 2009 prices of metal materials used in building construction decreased by 2.86 percent for residential buildings and dropped by 2.77 percent for other buildings. The year-on-year changes in metal material prices were more dramatic: down 50.47 percent for residential buildings and 50.71 percent for other buildings.