Higher inflation and weaker TL are taking their toll on Turkey’s construction sector.
In Turkey, house sales increased by 7.6% in September compared to the same month of the previous year to 147.143. İstanbul had the highest share with 19.2%.
Yet in January-September period, house sales decreased by 18.3% compared to the same period of the previous year to 949.138.
Mortgaged house sales decreased by 16.4% in September compared to the same month of the previous year with 20.2% share of all house sales. In January-September period, mortgaged house sales decreased by 64.3% yoy to 181.855.
Other house sales increased by 16.0% in September compared to the same month of the previous year as it had 79.8% share of all house sales. In January-September period, other house sales increased by 17.6% compared to the same period of the previous year to 767.283.
First time house sales increased by 6.3% in September with its 29.9% share of all house sales in Turkey. In January-September period, first time house sales decreased by 20.1% compared to the same period of the previous year to 287.156 units.
Second hand house sales increased by 8.2% in September compared to the same month of the previous year with a share of 70.1% of all house sales in Turkey. In January-September period, second hand house sales decreased by 17.5%.
Construction cost index increased by 42.13% annually
In August 2021, construction cost index (CCI) increased by 0.93% compared with previous month and increased by 42.13% compared with the same month of the previous year.
- On mom terms material index increased by 0.83% and labour index increased by 1.19%
- On yoy terms material index increased by 51.94% and labour index increased by 21.54%