Cement prices in Turkey have officially risen by around 56 per cent YoY in July, according to the Turkish Statistical Institute's (TUIK) domestic price index.

Elsewhere, Tahir Tellioglu, head of the Turkish Contractors' Federation (IMKON), has reported that cement prices surged to TRY450/t (US$53/t) from TRY160 a year ago.

Alongside this, contractors in the country have committed to establish new housing projects after a decline in recent years. However, this is reportedly leading to an increase in unsold housing stock.