Turnover in the construction industry increased by 0.9 percent compared with the previous quarter in the fourth quarter of 2014, the Turkish Statistical Institute said in a statement on Monday.

Demand for new buildings continues to rise in Turkey

Turnover in the construction industry increased by 0.9 percent compared with the previous quarter in the fourth quarter of 2014,  the Turkish Statistical Institute said in a statement on Monday.Demand for new buildings continues to rise in Turkey; building permits demand up 24.3 percent in 2014.

The Turnover Index in Construction increased by 0.6 percent year-on-year, and increased 4.6 percent in 2014 compared with the previous year. Turnover in construction refers to all income-producing transactions.

Production in the construction industry was up 3 percent in 2014 compared with the previous year, the statement said.

But production in construction decreased 0.7 percent compared with the previous quarter, and fell 0.8 percent year-on-year, according to the statement.

Demand for new buildings continues to rise in Turkey; as building permits demand was up 24.3 percent in 2014.   

Turkey boasts the second-largest number of construction companies in the world, and they contribute 6.6 pecent of GDP, according to TurkStat statistics. 

The construction sector contributed 6.6 percent of Turkish GDP, and raised $2.5 billion in foreign direct investment from 2003 to 2014, according to a report on the Turkish sector from Deloitte published in November 2014.

“The construction sector is riding high on the back of major projects, and demand for housing by a young population,” the Deloitte report said.

“Demand is expected to continue strong; demographic changes, increase in the disposable incomes per capita and financing opportunities combined with the need for renewal of risky buildings will drive the demand for new housing,” Deloitte said.

Source:propertyturk.net

Nurullah Kırmacı / emlakcoulisse.com

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