The Turkish Association of Manufacturers of Building Materials (IMSAD) has published the results of the next report, which is compiled monthly, but not only takes into account the data of the previous month, but also evaluates the dynamics of a longer period, for greater objectivity of conclusions.
Thus, the report for January 2023 reports that the production of building materials in Turkey in the first quarter of 2022 increased by 4.4%, in the second - by 2.1%; in the third it decreased by 3.3%, in the fourth the reduction continued. Which is not surprising, given the slowing down of some processes in the field of development in general and the volume of home purchases in October-November in particular.
However, the index of confidence in the construction sector increased by 5.1% in January of this year (compared to the previous month). This was influenced by measures to support the construction sector, as well as a whole series of new proposals for lending to citizens who want to buy their own housing.
The volume of construction works also increased slightly in January compared to December, as well as the number of new jobs.
Experts believe that further these jobs will appear even more, due to the general activation of the sector: after all, thanks to the support of developers and credit packages for the population, new projects have been launched. Which will also increase the demand for building materials.
However, in the light of the events of a week ago - namely, a powerful earthquake - it is difficult to predict something: first you will need to «patch up the holes» caused by force majeure.
A little earlier, the Central Bank of Turkey published a housing price Index, which by the end of November 2022 increased by almost 175% over the previous 12 months.