Turkiye Construction Cost Index January 2023

The construction cost index increased by 78.52% in a year and by 15.32% in a month.

TURKSTAT has published data on the growth in construction costs since the beginning of 2023.

In January 2023, the construction cost index (CCI) increased by 15.32% compared to the previous month and increased by 78.52% compared to the same month of the previous year.

The material cost index increased by 5.79%, while the labor index increased by as much as 47.79% compared to the previous month.

Also, the material cost index increased by 69.01% and the labor index increased by 106.95% compared to the previous year.

These figures indicate that the decline in prices in the housing market is unlikely to come, and the graph of changes in the cost of costs shows, most likely, the beginning of an upward trend in the cost of housing.

*The graph shows the increase in construction costs in January 2023.