Construction cost in Türkiye rises by 34.27% annually

The Turkish Statistical Institute announced on Wednesday that the Construction Cost Index (CCI) increased by 34.27% annually and 0.70% monthly in December.

According to the report, the material index rose by 0.41% while the labour index increased by 1.29% compared to the previous month. Annually, the material index surged by 26.18% and the labour index by 54.35%.

The Building Construction Cost Index rose by 34.67% compared to the same month of the previous year and recorded a 0.66% increase on a monthly basis. The material index for building construction grew by 0.40% monthly and 26.81% annually, while the labour index increased by 1.18% on a monthly basis and 53.38% on an annual basis.

The Construction Cost Index for civil engineering projects showed a 33.0% increase year-over-year and a 0.81% rise from the previous month. The material index grew by 0.42% monthly and 24.27% annually, whereas the labour index increased by 1.69% monthly and 57.92% annually.

The latest figures reflect the ongoing rise in construction costs across Türkiye, with labour costs seeing significant annual increases. (ILKHA)