Turkish Construction Material Industries Association (İMSAD) announced that in the first quarter of the year there was a leap in existing construction works due to the effects of seasonality, following the building permits and the weakening of new business demand.
According to the “Sector Report May 2017” published by Turkey IMSAD; Building licenses received in the first quarter of the year decreased by 15 percent in the first three months of 2017, 17.2 percent in terms of area, 3.6 percent in value and 11.6 percent in terms of number of apartments in the same quarter of the previous year. The total area of buildings in the January-March totals of the buildings granted building licenses is 45 million square meters; 25.4 million square meters of housing, 10 million square meters of non-residential housing and 9.6 million square meters of common use area. According to the report, building permits in the first quarter increased by 22 percent in square meters to 39.3 million square meters.
According to the report, the current level of construction work increased by 10 percentage points in April, compared with April. Thus, the level of current jobs in May rose to 7.2 points from the level of current jobs in May last year. Raporda, “Seasonalism with a rapid recovery in the construction sector, the support was seen in the positive effect,” he said. The increase in housing sales, which accelerated in March, also continued in April, according to the report, housing sales in April increased by 7.6 percent compared to the same month last year, said 114 thousand 446 units. It was emphasized that the support and support of the housing sector and the support provided by the housing sector continued in April and the support of the sales by the low interest rates of the housing loan was expected to continue for a while in the housing sales in this frame.
Report, noted that the need for remediation or renovation of existing dwellings is also a concern for the construction and building material industry It is stated that it constitutes an important potential.