Construction costs for real estate in Turkey have increased by 33-34% over the past year

The Turkish Statistical Institute (TÜİK) published data on the construction cost index (CCI) for December 2024. According to the data, the index increased by 34.27% year-on-year and by 0.70% month-on-month.

The materials cost index rose by 0.41% for the month and by 26.18% for the year, while the labor cost index increased by 1.29% for the month and by 54.35% for the year.

The building construction cost index rose by 34.67% year-on-year and increased by 0.66% month-on-month. The materials cost index increased by 0.40% for the month and by 26.81% for the year, while the labor cost index rose by 1.18% compared to the previous month, and by 53.38% compared to the previous year.

The civil construction cost index rose by 33.0% year-on-year and increased by 0.81% month-on-month. The materials cost index rose by 0.42% for the month and by 24.27% for the year, while the labor cost index increased by 1.69% for the month and by 57.92% compared to the previous year.

The next release of construction cost index statistics for Turkey is expected on March 11, 2025.

Summary: The prices for new projects will no longer be at these levels. It's time to invest!

In general, for Turkey:

According to TÜİK, the area of buildings for which construction permits were issued in the third quarter (July-September 2024) decreased by 18.9%. New data is expected in February.  

According to the Central Bank of the Republic of Turkey, the total number of new housing constructions in the country decreased from 8,072 units in August 2024 to 7,907 units in September 2024. For 2025, significantly fewer residential complex projects are planned in the resort town of Alanya.

We recommend investors to pay attention to Stay Property projects that will be completed soon. Some of these offer long-term installments without interest and with a fixed property price for up to 5 years. There are also offers with guaranteed rental income for 3 years — 5% annual return in euros without the need to manage the rental personally. Prices for liquid apartments in Alanya with extensive infrastructure and large territory can be viewed in our catalog. Contact us for consultation.