Yavuz IŞIK
THBB Yönetim Kurulu Başkanı
President
The THBB Ready Mixed Concrete Index that is the primary indicator of the construction sector showed that the construction sector had a highly animated June. In June, the Ready Mixed Concrete Activity Index saw the historical peak; hence, June became the month in which the activities took place most intensely in the construction sector after a long time. The increase of the Expectation Index and, in parallel to it, the Confidence Index, demonstrated that June was extremely positive for the construction sector in any sense.
A significant demand for housing loans took place in June due to the fact that the public banks provided the credit facilitations with the monthly interest of 0,64% in new houses and 0,74% in second-hand houses up to 15 years. Our Minister of Treasury and Finance shared the information that 101 thousand people received loans through the public banks, with the total value of 25 billion TL, in the initial 20 days of June. This way, the record of all times in the balance of housing loans of the banking sector was broken and a value of 230,9 billion liras was reached. This boom in the demand was reflected into the supply positively and increased the appetite for new buildings and construction works accelerated. In the forthcoming period, if there becomes no retrogression in Turkey’s success in terms of the fight against the pandemic, continuation of the momentum in the construction sector should be expected. The construction sector will provide substantial contributions to the economy by compensating its previous losses, particularly in terms of employment and growth, in the second half of the year.