New construction is always dependent on three interrelated components - time, quality and cost. In the coming year we will face certain challenges and opportunities related to all these aspects. Let's look at some of them, starting with timelines.
Timelines:
- Burdensome administrative procedures: Taking permits and implementing administrative procedures can delay projects. This factor requires greater construction flexibility and planning.
- Utility Provider Requirements: New standards and requirements from utility providers require additional effort and coordination.
- Subcontractor overload: collecting too many projects from subcontractors without them actually being able to complete them can lead to delays and compromises on quality.
Quality:
- The link between quality and deadlines: if we want high quality, it often requires more time to complete the project. It may be necessary to compromise between quality and deadlines.
- New buyers' requirements: most buyers are now born after 1990, and there is a growing demand for extras such as smart houses, better insulation and better quality joinery. This fact is challenging builders to adapt to new demands.
Prices:
- Impact of material prices: construction material prices fluctuate, most recently influenced by the war in Ukraine. Although normalising, prices continue to be high, particularly due to inflation.
- Rising labour prices: the construction sector is experiencing a growing need for quality workers, leading to a steady increase in labour prices.
- Impact of the Turkey earthquakes: Events such as the Turkey earthquakes and the construction associated with the damage recovery will have an impact on both material prices and the availability of quality workers.
In conclusion, new construction is going through many changes and challenges that must be contended with. However, these challenges provide an opportunity for innovation and improvement in the industry. Let us look to the future with optimism and a willingness to tackle the challenges.
