Construction Activities Still Positive

The Report shows that the Activity Index, which moved to the positive side in February, managed to remain in the positive side despite a limited decrease in March, and reveals that it is too early to make an optimistic prediction in terms of construction in the second quarter of the year, as the Expectation and Confidence Indices remain low.

Turkish Ready Mixed Concrete Association (THBB) Chairman Yavuz Işık made evaluations about the Turkish economy and the construction industry.

Işık said, “The upward trend in housing prices, which started in 2020 with the impact of the pandemic, continued to accelerate in 2022 and reached its peak in the last quarter of 2022. As of the end of 2022, the upward trend in housing prices has started to decrease. In the past period, housing prices and housing costs are still increasing, although not as fast as before. Demand in the construction sector still seems weak, except for earthquake zones and provinces where urban transformation is intense. "Although the negative expectations regarding the post-election period have disappeared, the expectation that housing demand will remain low and that there will be no move in the banking sector to support housing demand reduces the appetite for starting new projects." said.