ResearchMoz added Latest Research Report titled " Turkey Construction Industry to 2019: World Market Research, Analysis, Shares, Size, Trends, Growth, Survey, Forecast " to it's Large Report database.
Albany, NY -- (SBWIRE) -- 12/07/2015 -- Construction in Turkey - Key Trends and Opportunities to 2019 report provides detailed market analysis, information and insights into the Turkish construction industry including:
The Turkish construction industry's growth prospects by market, project type and type of construction activity
Analysis of equipment, material and service costs across each project type within Turkey
Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Turkish construction industry
Analyzing the profiles of the leading operators in the Turkish construction industry.
Data highlights of the largest construction projects in Turkey
The Turkish construction industry will continue to expand in real terms over the forecast period (2015–2019), with investment in infrastructure construction, healthcare, industry, education facilities and housing projects continuing to drive growth. Growth will also be driven by the country's Vision 2023, under which the government aims to develop the country's road, rail, airport and other related infrastructure.
In real terms, the industry's output value rose at a compound annual growth rate (CAGR) of 6.42% during the review period (2010–2014), although this is forecast to decelerate to 4.90% over the forecast period, due to the rising mortgage interest rate and economic slowdown.
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The government is focusing more on high-speed railways and highway construction, as robust and modern transport is vital for the growth and competitiveness of the economy.
Government efforts to reduce the infrastructure gap through urban transformation will also support the growth of the industry over the forecast period.
This report provides a comprehensive analysis of the construction industry in Turkey It provides:
Historical (2010–2014) and forecast (2015–2019) valuations of the construction industry in Turkey using construction output and value-add methods
Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type
Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
Analysis of key construction industry issues, including regulation, cost management, funding and pricing
Detailed profiles of the leading construction companies in Turkey
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According to CBRT, residential housing prices remained buoyant in the first eight months of 2015. The country's average housing price index (HPI) grew by 14.5% from 2013 to 2014. This was preceded by annual growth of 12.7%, 11.7% and 10.2% in 2013, 2012 and 2011 respectively. The largest increase in house prices was recorded in Istanbul, the largest city in Turkey, where the average HPI grew by 22.3%, in 2013 to 2014, while house prices in Izmir and Ankara rose by 13.2% and 11.2% respectively. Prices are expected to remain buoyant over the forecast period, backed by an increase in demand due to the growing number of overseas property buyers, mainly from the Middle East and Russia. According to TurkStats, the total number of international property buyers in the country increased by 41.0% in 2014, as compared to 2013.
Under the social housing program, to meet the rising housing demand coming from the country's lower- and middle-income groups, the Toplu Konut ?daresi Ba?kanl??? (TOK?), Turkey's housing development administration, is developing affordable housing projects across the country. In a bid to ensure housing for all residents by 2023, the TOK? plans to build 1.0 million homes with a coordination of the Ministry of Family and Social Policies-General Directorate of Social Benefits (SYGM) by 2023. Accordingly, various affordable housing projects were launched under the urban regeneration and slum transformation projects and social housing projects. The TOK? plans to develop affordable housing projects in highly populated cities such as Ankara, Istanbul, Bursa, ?zmir, Erzincan, Denizli, Erzurum, Trabzon and Gaziantep. In January 2015, under the slum transformation project, the government issued a tender for the transformation of 104,896 houses in the country. Consequently, various affordable housing projects will support the growth of the residential construction market over the forecast period.
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