According to the construction associations of Turkey, published on the Turkey Property News source, Turkey’s construction sector grew by 10,6% in the third quarter of last year, reaching a total volume of 15 000 000 000 Turkish Liras (about 6 521 739 130 euros.
This is one of the strongest engines of the country’s economy, the construction sector growth in the second quarter of last year was nearly 13,4%.
The heat of the aggressive growth weakened by 2,8% in the third quarter compared to the previous quarter, the Turkish Constructors Association experts said. One of the main reasons for the slowdown in growth of the sector stemmed from the construction sector’s need for depleting the housing stock before starting up newly contracted projects in 2012.
Total public investment rose by 9,7% in the third quarter compared to the previous one. Private investments in the sector also jumped by 11,6% property in Turkey. According to experts, the number of houses sold in the third quarter slowed down by 5,18% compared to the second quarter. However, this still marked 21,57% growth compared to the same period of 2010.
Source: http://turkey-property-news.blogspot.com/2012/02/property-turkey-construction-sector.html