The Turkish Statistical Institute has reported a significant decrease in the floor area of buildings for which construction permits were issued during the second quarter of 2024.

The decline, which was 30.9% compared to the same period last year, reflects a broader downturn in the construction sector.

According to the data, the total floor area of buildings granted construction permits fell to 27.1 million square meters in Q2 2024. Of this, 14.6 million square meters were designated for residential use, 6.9 million square meters for non-residential buildings, and 5.6 million square meters for common areas.

The number of buildings and dwelling units also saw declines of 22.7% and 28.9%, respectively. The largest share of the permitted floor area was allocated to buildings with two or more dwelling units, which accounted for 66.6% of the total.

In terms of occupancy permits, there was a 14.7% decrease in the floor area compared to the previous year. The total floor area for which occupancy permits were granted amounted to 18.1 million square meters. This includes 9.3 million square meters for residential buildings, 5.2 million square meters for non-residential buildings, and 3.6 million square meters for common areas.

For occupancy permits, two or more dwelling buildings had the highest share, with 63.9% of the total floor area, followed by public entertainment, education, and institutional care buildings with 1.8 million square meters.

The data highlights a continued reduction in both new construction and completed buildings, reflecting ongoing challenges in the sector. (ILKHA)