|Adjustments||Seasonally Adjusted at Annual Rate|
For Turkey, construction permits for residential and non-residential buildings; by purpose; count of dwellings, count of buildings, floor area, value.
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.
For the monthly count of permitted dwelling units, we compute a seasonally adjusted counterpart in annualized terms (SAAR).