Turkey Construction Market Outlook to 2023: Growing Demand for Real Estate Properties in Turkey is Driving Growth

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Nov 14, 2018, 17:45 ET

DUBLIN, Nov 14, 2018 /PRNewswire/ --

The "Construction Market in Turkey 2019-2023" report has been added to ResearchAndMarkets.com's offering.

The Construction Market in Turkey is expected to register a CAGR of almost 5% by 2023.

The majority of Turkey's land rests on first and second-degree seismic belts as it sits at the confluence of the Arabian, African, and Eurasian plates. Improper city planning and poor infrastructure due to rapid urbanization have created a demand for earthquake-resilient homes in Turkey.

The Government of turkey have launched the Urban renewal Project which focuses on the development of earthquake-safe homes. As part of the project, the government plans to demolish 7 million houses which are prone to earthquake damage in several high earthquake risk cities such as Istanbul, Bursa, Izmir, and Burdur.

Financial aid and one-off payment will be provided by the Turkish government to the owners and inhabitants of the demolished buildings. The development of earthquake resilient buildings is in the planning stage and the increasing awareness and government support will provide ample growth opportunities to the construction companies in Turkey.

Thus, the increasing focus on earthquake-resilient buildings will be one of the key factors driving the construction market in Turkey.

Market Overview

Turkey is one of the high earthquake prone areas in the world. The Turkish government intends to demolish 7 million houses in its high earthquake risk areas and develop new earthquake resilient homes. This initiative is expected to boost the construction market in Turkey.

According to the report, one of the major drivers for this market is the growing demand for real estate properties in Turkey. The lowering of home loan interest rates by banks and relaxation of rules by the Turkish government is encouraging residential and foreign buyers to invest in residential apartments.

Further, the report states that one of the major factors hindering the growth of this market is the rising cost of raw materials. Increasing inflation and falling Lira value are some of the factors contributing to the increase in raw material prices.

The market appears to be fragmented and with the presence of several companies including Alarko Holding, and ENKA the competitive environment is quite intense. Factors such as the increasing demand for real estate properties in Turkey, will provide considerable growth opportunities to the construction companies in Turkey.

Key Vendors

Alarko Holding
ENKA
Ronesans Holding
TAV Construction
Tekfen Holding

Topics Covered

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

Market ecosystem
Market characteristics
Market segmentation analysis

PART 04: MARKET SIZING

Market definition
Market sizing 2018
Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

Bargaining power of buyers*
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition

PART 06: MARKET SEGMENTATION BY END-USER

Market segmentation by end-user
Comparison by end-user
Residential - Market size and forecast 2018-2023
Infrastructure - Market size and forecast 2018-2023
Commercial - Market size and forecast 2018-2023
Market opportunity by end-user

PART 07: CUSTOMER LANDSCAPE

PART 08: DECISION FRAMEWORK

PART 09: DRIVERS AND CHALLENGES

Market drivers
Market challenges

PART 10: MARKET TRENDS

Increasing focus on building earthquake-resilient buildings
Development of green buildings
Adoption of dry construction techniques

PART 11: VENDOR LANDSCAPE

Overview
Landscape disruption
Competitive scenario

PART 12: VENDOR ANALYSIS

Vendors covered
Vendor classification
Market positioning of vendors
Alarko Holding
ENKA
Ronesans Holding
TAV Construction
Tekfen Holding

For more information about this report visit https://www.researchandmarkets.com/research/fpv27t/turkey?w=5

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SOURCE Research and Markets