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The booming house-building sector is to a great extent responsible for the growth of around seven per cent in Turkey
The building materials market in Turkey is expected to grow by an estimated seven per cent this year to approx. US $ 3.2 bn (€ 2.5 bn), reports the BFAI (Federal Agency for External Trade). The 2003 market volume is given as just on US $ 3.0 bn (€ 2.4 bn). Around one-third of the demand is met by imports, which might well rise by around ten per cent in 2004.
The house-building industry is considered to be especially likely to grow. The number of permits issued in the first three quarters of 2003 was 38.9 per cent up on the same period of the previous year. The BFAI quotes expert opinions as saying that at least 1.5 mio additional homes will be built in the next five years, in conjunction with the annual population growth of around 1.5 per cent. When the existing shortfall on the housing market and the still unfinished reconstruction work in the earthquake areas of the west are taken into consideration, an estimated figure of 500 000 is put on the number of homes built per year.
According to the information available, the imported building materials are particularly for interior finishing work and include such products as floor coverings, wall coverings, windows, doors and sanitary installations, as well as paint, varnish and insulation materials. The market for prefabricated homes is also rated as profitable in the longer term.
The house-building industry is considered to be especially likely to grow. The number of permits issued in the first three quarters of 2003 was 38.9 per cent up on the same period of the previous year. The BFAI quotes expert opinions as saying that at least 1.5 mio additional homes will be built in the next five years, in conjunction with the annual population growth of around 1.5 per cent. When the existing shortfall on the housing market and the still unfinished reconstruction work in the earthquake areas of the west are taken into consideration, an estimated figure of 500 000 is put on the number of homes built per year.
According to the information available, the imported building materials are particularly for interior finishing work and include such products as floor coverings, wall coverings, windows, doors and sanitary installations, as well as paint, varnish and insulation materials. The market for prefabricated homes is also rated as profitable in the longer term.
