Construction costs continue to rise but at slower pace
On an annual basis, the index fell for a second month in a row in July.
The month-on-month increase in the cost index, however, accelerated from 0.4 percent to 1.9 percent.
The headline cost index recorded a 29.1 percent increase since the end of 2023. The annual increase in construction costs hit as high as 120 percent in September 2022 but the pace of the rise started to moderate in the following months.
Labor costs in the construction sector advanced 1.5 percent monthly for an annualized increase of 58.4 percent.
The index of materials cost rose by 2.1 percent month-on-month, and 41 percent year-on-year.
Meanwhile, Türkiye’s construction materials exports increased by 6.9 percent in July compared with the same month of last year to reach $2.49 billion.
In terms of volume, exports amounted to 3.82 million tons, according to the Association of Turkish Construction Material Producers (İMSAD).