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Increase in Construction Costs In Turkey: An Excellent Opportunity to Buy Now

The Construction Cost Index in September 2019 increased by 4.02% compared to September 2018

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2019-12-05 Last update 2020-04-03

Increase in Construction Costs In Turkey: An Excellent Opportunity to Buy Now

The Construction Cost Index in September 2019 increased by 4.02% compared to September 2018, according to statistics published by the Turkish Statistical Organization TÜİK, while the Construction Cost Index 2019 fell 0.59 from August 2019.


Construction costs in Turkey

How the increase in construction cost index can affect real estate prices?

According to statistics published by the Turkish Statistical Organization TÜİK, the Construction Cost Index for September 2019 decreased by 0.41% compared to the previous month of the same year.

The Construction Cost Index saw an increase of 3.43% compared to September 2018. This had a clear impact on property sales in Turkey 2019.

On the other hand, the employment index for the month of September 2019 decreased by 0.97%, compared to the value of the previous month of the same year, and increased by 24.63% from September last year 2018.

Building costs in Turkey 2019

The construction cost index for construction in September 2019 fell 0.73% from the previous month of the same year, while it increased by 5.53% from its value for September last year 2018.


Property prices

Experts and real estate professionals in Turkey note that real estate prices in Turkey today are in a phase of depreciation. This will be followed by a period in which prices will rise as construction costs Increase and demand increases both in the local and foreign markets early next year. Therefore, this period is an excellent opportunity for those interested in real estate investment in Turkey.

Edited by: Imtilak Real Estate©

Source: Emlak 365

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