The number of facilities under construction has tripled in Turkey

According to the Turkish Statistical Institute TÜIK, since 2017, the number of construction licenses issued and, accordingly, the number of facilities under construction in the country has decreased threefold. If 1.4 million construction permits were issued in 2017, then in 2023 their number amounted to only 520 thousand.

Experts warn that this trend will lead to a shortage of housing and an increase in its cost. At the moment, the government is developing a program of affordable housing for citizens, however, it is difficult to say how it will be implemented, since in the face of rising construction costs and increased labor costs, many developers are afraid to start new projects.