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A Leap in the Turkey Real Estate Sector in May

The outcomes of the report by the Turkish Building Materials Manufacturers Association for the month of May 2017 indicate that the construction sector witnessed a qualitative leap during this month...

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2017-06-09 Last update 2020-02-10

A Leap in the Turkey Real Estate Sector in May

A Leap in the Turkey Real Estate Sector in May
The outcomes of the report by the Turkish Building Materials Manufacturers Association for the month of May 2017 indicate that the construction sector witnessed a qualitative leap during this month.

According to data issued in this context, there was an increase in the number of building permits obtained during this period, with an increase of 15% in number, 17.2% in area, 3.6% in value and 11.6% In terms of the number of apartments during the first quarter of the year.

The month of May has witnessed an increase in the construction sector by 10 points more than in April, and accordingly, it was found that the increase between the month of May of this year compared to the same month last year increased by 7.2%.

The data show that the construction sector has experienced rapid a recovery with the high demand from both local and foreign investors.

The campaigns launched by construction companies and the payment facilities offered to investors in construction projects have played a major role in increasing investor appetite. The reduction in interest has also increased this demand, leading to an increased demand for real estate projects.

April saw an 18 percent upturn in cash-buying, while the biggest turnout was through bank loans, reaching 35 percent and bond ownership at 47 percent.

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