Turkey needs 5.5
million more homes by 2016
The population in Turkey continues to expand and so too does
the demand for housing. The Istanbul Chamber of Commerce has released
figures showing that Turkey currently needs between 300,000 and 350,000
additional houses annually, a figure that is set to increase.
The figures show that 65 percent of homes in Turkey were used by their
owners in 2007, while the remainder were rented.
An estimated 5.5 million new homes will be required by 2016; due to an
increase in population; to cope with internal migration; for renovation
needs and as part of urban transformation projects that are demolishing
shanty houses and replacing them with modern and registered buildings
Source
Istanbul Chamber of Commerce