Building permits and occupancies decreased in the second quarter

Licenses obtained for new building production decreased in the second quarter of the year. Turkish Statistical Institute (TUIK) announced the building permit statistics for the second quarter of this year. Accordingly,

In the second quarter of the year, the number of buildings with building permits decreased by 2 percent, the number of flats by 9.5 percent and the surface area by 7.4 percent on an annual basis. There was a decrease for the first time in four quarters.

In the second quarter, licenses were issued for 280 thousand 463 flats. Thus, the number of apartments licensed in the first half of the year reached 514 thousand 813.

According to the purpose of use of the buildings for which building permits were issued, the highest surface area share was 'residential buildings with two or more flats' with 37.6 million square meters. This was followed by 'industrial buildings and warehouses' with 4.5 million square meters.

ISSUE IS THE LOWEST OF THE 4 QUARTER

In the second quarter, the number of buildings issued with building occupancy permits (occupancy permits) increased by 13.7 percent, the number of flats increased by 10.7 percent and the surface area increased by 5.8 percent.

In the second quarter, occupancy was given for 144 thousand 150 flats, the lowest number in the last 4 quarters.

The number of flats occupied in 6 months was 307 thousand 440. This showed that even though a license was obtained for new production, the supply offered to the market was insufficient. Industry representatives state that there is a need for 800 thousand to 1 million new houses annually across the country.