In spite of recent social and political turmoil, the re-election of a majority government in late 2015 has stabilized the Turkish economy and restored consumer confidence. Growth in construction output is expected to rise from its subzero level in 2015 to 4.5% in 2016. The plan to progressively demolish and rebuild some 6 million buildings which do not meet the earthquake-proof regulations is still going ahead. Large infrastructure projects including a third airport for Istanbul are also on track. All the indicators are set fair for the near future.
Unlike most EU countries, where the air conditioning industry is heavily reliant on refurbishment, in Turkey the principal demand is from new construction both domestic and commercial. Since 2010 most apartment blocks have been built as part of a larger complex typically including shopping centers, offices, and hotels.