Turkey’s construction cost index up 32 percent in 12 months

In March 2021, Turkey’s construction cost index (CCI) increased by 3.44% mom and carried the yoy spike to 31.97%.  TL devaluation and the severe rise in commodity prices are the reasons.

-Material index increased by 4.89% mom (37.96% yoy)and labour index increased by 0.36% mom (20.36% yoy).

Construction cost index annual rate of change (%), March 2021

Building construction cost index increased by 3.18% compared with previous month and increased by 31.62% compared with the same month of the previous year.

-Material index increased by 4.60% mom (37.42% yoy) and labour index increased by 0.24% mom (20.63% yoy).

Construction cost index for civil engineering increased by 4.32% compared with previous month and increased by 33.18% compared with the same month of the previous year.0

-Material index increased by 5.83% mom (39.76% yoy)and labour index increased by 0.78% mom (19.37% yoy).