Turkey Real Estate Review / 2017 First Half

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According to official data released by the Turkish Statistical Institute, a 7 year record of GDP growth was finally broken, with the chain volume index GDP figures showing a year-on-year decline of 1.8% in Q3 2016, together with overall growth in the first three quarters of 2016 of 2.2%. The contraction in the third quarter saw declines of 8.4%, 7.7% and 1.4% in the service, agricultural and industrial sectors respectively; the only sector to post positive figures was the construction sector, which grew by 1.4%.

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Turkey Real Estate Review / 2017 First Half

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