Forecast: Production in Building Completion and Finishing Sector in Turkey

From 2013 to 2023, the Building Completion and Finishing Sector in Turkey demonstrated steady growth with some fluctuations, peaking at 19.08 Billion New Turkish Liras in 2023. Initially, growth was robust with high year-on-year percentage increases, such as 20.15% in 2013 and 15.98% in 2017. However, a temporary decline occurred in 2019 and 2020, but the sector quickly rebounded by 2021. The most recent two years show more moderate growth rates of 6.36% in 2022 and 5.92% in 2023. Over the past five years, the compound annual growth rate (CAGR) averaged 4.44%. Future projections estimate a forecasted 5-year CAGR of 3.78%, with continued growth expected to reach 24.25 Billion New Turkish Liras by 2028, marking a 20.41% increase over five years.

Future Trends to Watch For:

• Inflation impact on material costs and purchasing power.
• Technological advancements improving efficiency and finish quality.
• Policy changes potentially influencing construction regulations and market dynamics.
• Environmental sustainability trends driving demand for green building practices.
• Foreign investments and their role in sector growth.