LONDON--(BUSINESS WIRE)--The construction market research report by Technavio predicts the market in Turkey to post a CAGR of close to 5% during the period 2019-2023.
A key driver for the construction market in Turkey is the increased demand for real estate properties in the region. Residential and foreign buyers are investing in innovative and modern apartments in Turkey, which is driving Turkey’s residential construction market. The ongoing promotional campaigns by banks and easing of home loan interest rates, promote the sale of residential flats in Turkey. Additionally, increasing middle-income group and access to mortgage finance are also promoting the sales of residential flats.
This construction market research report provides an analysis of the most important trends expected to impact the market outlook in Turkey during the period 2019-2023. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the development of green buildings as one of the key trends in the construction market in Turkey:
Construction market in Turkey: Development of green buildings
Owing to the construction of the nation’s first Leadership in Energy and Environmental Design (LEED)-certified building in the suburbs of Ankara in 2016, the adoption of green building design and construction practices in Turkey gained traction in the last two years. There has been a rapid increase in the number of green buildings with approximately 250-300 buildings gaining LEED-certification by January 2018.
“There are several factors that are encouraging building contractors and buyers across Turkey to adopt green building practices. A major reason is the need to improve the corporate image among the public, which is a part of the corporate social responsibility. Most of the LEED-certified buildings in the country are owned and operated by multi-national companies,” says a senior analyst at Technavio for research on construction.
Construction market in Turkey: Segmentation analysis
This construction market analysis report segments the market in Turkey by end-user segments such as residential, infrastructure, and commercial segments. The residential segment held the largest construction market share in 2018, accounting for nearly 56% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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