While the building construction index reached the highest level of all time in the January, the sector representatives reported that the producers took action for supply after increasing demand and interest rate cut signals.
According to the statistics of the Turkish Statistical Institute (TURKSTAT), the construction production index increased by 15.5 percent in January compared to the same period last year. The increase was recorded as the highest data of the last 9 months. The index increased to 17.9 percent in April 2024 and fell in the following months and followed a wavy course.
The building production index, which pointed out the increase in building production, which is among the two main indexes that constitutes the data in question, broke a record in the stove. Seasonal and calendar effects, the construction of the building construction index increased to 152.1 points in the stove, while the highest figure has been seen since January 2017, when the data began to be announced.
Thus, the construction index, which is free of seasonal and calendar effects, increased to the highest of 97 months. The highest figure was seen in December 2024 with 144.9 and in January 2018 with 138.
Sector representatives, rising in the second half of last year and the last 8 months increasingly increasing production in this area increased production, while interest rate cuts start and expectations that will continue during the year is among the factors that support the production.
On the other hand, the annual increase in construction costs decreased to 26.61 percent in the January and the lowest data of the last 49 months as the records of the records encouraged production.
“A pioneer indicator of the increase in housing supply”
Engin Keçeli, President of the Construction and Real Estate Developers Association (INDER), said that the construction industry index is at the top of the entire time and the construction index of the construction industry is to be the highest of the last 9 months on behalf of the sector.
Felt, “contractors are starting to construction again. Already have to increase production because it has fallen too much for a few years. If there is no production after September, we will not find an apartment to sell. Interests continue to fall in the second half of the year we think that the sales of housing will be excited.” he said.
Housing production should be increased much more, the existing production is far below the demand expressed, “There is demand, we have to increase the supply of the supply. This data is the leading indicator of that increase. Both production and sales will increase. All manufacturers are preparing for the demand that is alive and will increase even more.” He said.
“The viability of demand and the melting of stocks promotes production”
Real Estate and Construction Platform Mustafa Ekiz said that the increase in housing sales continued after the expectation that prices will increase due to the tendency of interest rates.
Expressing that the sales of housing has increased continuously since the second half of last year, Ekiz said, “In this increase, the impact of the accumulation of our citizens by making profits from other investments to the housing. Investors used their savings for opportunities in housing in the last months.” he said.
Ekiz, only the number of housing sold in the last 8 months approached 1 million 158 thousand by recording, “Now the existing stocks are exhausted. Two -thirds of the sales are already second -hand. Therefore, new housing production needs to be increased and there is a movement.” he said.
In Türkiye, around 800 thousand houses should be produced annually, but the current production has been in much lower figures for a while Ekiz said, “demand is so alive, the melting of stocks and the slowdown of the increase in construction costs encouraged manufacturers to take action.” He made a statement.
