Turkey - Building Permits




Turkey: Building Permits

Mnemonic HPMT.ITUR
Unit #, NSA
Adjustments Not Seasonally Adjusted
Monthly 9.12 %
Data Sep 2022 10,888
Aug 2022 9,978

Series Information

Source Central Bank of the Republic of Turkey (CBT)
Release Construction Permits
Frequency Quarterly
Start Date 1/31/2002
End Date 9/30/2022

Turkey: Real Estate

Reference Last Previous Units Frequency
Building Permits Sep 2022 10,888 9,978 #, NSA Monthly
Residential Building Permits Sep 2022 745,370 746,322 #, SAAR Monthly
Dwelling Stocks Jun 2018 766,305 849,180 #, SAAR Monthly

Release Information

Description

For Turkey, construction permits for residential and non-residential buildings; by purpose; count of dwellings, count of buildings, floor area, value.

Properties

  • Measurements:
    • Unitary count (#)
    • Square meter (m²)
    • Turkish lira (TRY)
  • Adjustment: Not seasonally adjusted (NSA) 
  • Native frequency: Monthly
  • Start date: Uniformly 2002m1
  • Geos: Country 

Methodology

The data on the production of the construction sector were calculated by taking consideration of occupancy permits forms were compiled by the Construction Statistics Division of the State Institute of Statistics (SIS).

To calculate the total output of the construction sector, it was assumed that construction completed within five years starting from the time construction permit was granted.

Permits are granted for a period of one to five years. A second permit called the occupancy permit is granted for completed construction. Since the calculation of output value must be based on completed buildings, a series of completion ratios were estimated for each type of construction. Another permit is also granted for extensions.

The value of fixed capital on building construction was estimated by multiplying the area of new and extended construction measured in square meters by unit price. The total area of new construction was in turn determined by applying the completion ratios. Finally a profit rate of 25 percent determined by Ministry of Public Work and Settlement was added to the total cost of building construction.

The data on the inputs of the construction sector were calculated taking consideration of Input Distribution of Construction Statistics, which were compiled by Construction Statistics Division in 1998.

Moody's Analytics supplements

For the monthly count of permitted dwelling units, we compute a seasonally adjusted counterpart in annualized terms (SAAR).