According to the statistics released by the Turkish Statistical Institute (TUIK), in the second quarter of this year Turkey's building construction cost index increased 1.7 percent quarter on quarter and was up 11.4 percent compared to the same period of 2013.
Meanwhile, in the second quarter of the current year, the labor index component of the construction cost index in Turkey increased by three percent, while another component of the construction cost index, the material index, increased by 1.3 percent, both compared to the previous quarter. The year-on-year increase rates of these indices were 9.8 percent and 11.9 percent respectively.
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.
