Turkey's home sales look troubled in 2011

The industry forecasts a supply boom in last three quarters of the year and home prices are expected to go down, according to the report on construction sector analysis.

Turkey's home sales look troubled in 2011

Troubled days loom for Turkey's real estate industry as growth in home sales is expected to be lower than 2010, a report of Turkish Contractors Association showed.

The industry forecasts a supply boom in last three quarters of the year and home prices are expected to go down, according to the report on construction sector analysis.

The report said government's measures against overheating economy would cause a slowdown in home sales and production in sub-sectors, and it would also have a negative effect on employment.

However, it added that planned investments until 2015 would create significant number of jobs in the industry for the next 4 years.

Number of homes built in the first quarter of 2011 rose 7.6 percent when compared with the same quarter a year earlier. Last year, 823,000 homes were built, a number more than 150 percent of the average in past five years.

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Last Mod: 30 Temmuz 2011, 12:21
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