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Construction in Turkey on the rise
14.05.2015

In 2014, turnover of the construction sector in Turkey increased by 4.6%.Compared to the year 2013, total production rose by 3%.Experts explain the positive dynamics of growth the urban population and the demand for better quality buildings.Urbanization and the need for more quality housing have become a driving force of the Turkish construction industry.The growth of the Turkish population, which occurs more rapidly in urban areas than in rural areas, ahead of regional neighbors.The increase in urban population has attracted investors in commercial and residential real estate.In 2014, turnover of the construction sector in Turkey grew by 4.6% compared with the previous year.It is expected that the results of the first quarter of 2015 point to an even greater increase.The changes are gaining momentum in the major cities, particularly in Istanbul.The old historical centers are «on a facelift».Gaziosmanpasa district in Istanbul was the leader in the number of renovations and high-quality new buildings.A similar trend is observed in other areas of the city: in Bomonti, Sisli, Kagithane, Talimhane and Fatih.Ambitious projects are emerging in all major cities of the country.By 2020 the country will build 350,000 housing units.About 70% of Turkey’s population lives in cities, so the demand for housing increases, and major infrastructure projects are crucial.Turkish contractors — one of the most experienced construction companies in the world and are capable of solving projects of any scale.Compared to previous years, new projects launched in 2014, has a higher quality.A square meter in such objects is much more expensive,that indicating the increase in real prices in the industry.In March home sales jumped by 32%.

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