Recent developments in the construction and housing sectors in Turkey: The case of Rize

This study examines recent developments in the construction and housing sectors in Turkey with a special emphasis on the Black Sea region which has become the focus of interest of foreign investors in recent years. The research has been deepened over the city of Rize as developments in the housing sector in the city are constantly on the agenda due to high house prices as a part of rapid increases in housing prices in recent years. In this study, a fieldwork was carried out to analyze the dynamics behind high housing prices in Rize, as official statistics did not provide sufficient information. Results of the study showed that factors affecting housing supply and demand in Turkey are also valid for the housing sector in Rize. Further, there are some factors which are mostly effective in the case of Rize and the assessment of these factors makes this study different from previous studies. The information obtained from the field survey indicates that the housing prices in Rize are particularly high because of the land structure of the region. In addition, the lack of qualified workers, the provision of construction materials from outside the city and the problems related to development rights make house prices high in Rize by affecting housing costs. Keywords: Construction Sectors, Housing Sectors, Black Sea Region, Rize