Construction Cost Index Rises in May: How Will the Market Be Affected?

The Turkish Statistical Institute announced the construction cost index data for May. According to this, the index increased by 1.87% compared to the previous month and by 29.84% compared to the same month of the previous year.

■The material index increased by 1.77% and the labor index by 2.04% on a monthly basis.

■On an annual basis, the material index increased by 28.62% and the labor index by 32%.

■The construction cost index for building construction increased by 1.96% compared to the previous month and by 28.56% compared to the same month of the previous year.

■The construction cost index for non-building structures increased by 1.6% compared to the previous month and by 34.06% compared to the same month of the previous year.

Future of the Construction Sector - Experts believe that the cost increases in the construction sector may continue.

■Additionally, new investments and projects need to be implemented for the growth of the sector.

Market Performance - The market performance may fluctuate with the increase in the construction cost index.

■Investors may be concerned about the future of the sector and may redirect their investments to other areas.

The increase in the construction cost index shows that new investments and projects need to be implemented for the growth of the sector. The markets will pay attention to how this situation will be managed.