Turkey Construction Costs Rise Sharply In February 2021
CONSTRUCTION COSTS IN TURKEY RISE SHARPLY
In February 2021, the construction cost index increased by 27.59 percent year-on-year and decreased by 0.03 percent month-on-month.
Turkish Statistical Institute (TUIK) announced the data of the Construction Cost Index for February 2021. Accordingly, the construction cost index decreased by 0.03 percent in February 2021 compared to the previous month, and increased by 27.59 percent compared to the same month of the previous year.
Compared to the previous month, the materials index decreased by 0.04 percent and the labor index by 0.02 percent. In addition, compared to the same month of the previous year, the materials index increased by 31.64 percent, and the labor index increased by 19.73 percent.
BUILDING CONSTRUCTION COST INDEX UP 28.23 PERCENT YEAR-ON-YEAR
The building construction cost index increased by 0.12 percent compared to the previous month and by 28.23 percent compared to the same month a year earlier. Compared to the previous month, the materials index increased by 0.19 percent, and the labor Index decreased by 0.04 percent. In addition, compared to the same month of the previous year, the materials index increased by 32.61 percent, and the labor index increased by 20.05 percent.
COST INDEX FOR NON-BUILDING STRUCTURES INCREASED BY 25.38 PERCENT YEAR-ON-YEAR
The construction cost index for non-building structures fell 0.56 percent from the previous month, up 25.38 percent from the same month a year earlier. Compared to the previous month, the materials index fell 0.81 percent, and the labor index rose 0.05 percent. In addition, compared to the same month of the previous year, the materials index increased by 28.55 percent, and the labor index increased by 18.54 percent.
