Economics
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According to analysts, the price per square metre of residential real estate in Turkey has exceeded TL 30,000. After December 2021, January 2024 was marked as "having the lowest rates and the slowest price growth" in the last 25 months. In addition, rising real estate prices, interest rates on bank housing loans and credit restrictions for...
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Home sales to foreigners in March sank by 47.9% compared to the same month last year (a total of 1,778 units), and decreased by almost the same amount in the first quarter — January-March — by 48% compared to the same period last year: a total of 5,685 housing units. As a result, the citizens of the Russian Federation bought the most, who have been...
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March 2024 was a showcase month for residential property sales in Turkey: the total slump in deals, which began last autumn (winter stagnation and uncertainty in the run-up to the March elections), decreased to a minimum of 0.1% this month compared to March 2023. Although people trust mortgages less and less. Here are the exact numbers for...
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Turkish developers have implemented projects worth $4.3 billion outside the country, although the domestic market faces some difficulties. In particular, the requirements for developers will be reviewed. The largest housing stock for sale is located in the Marmara region, but there is a shortage in Northern Cyprus, which is experiencing a surge in...
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The new summer season in Turkey has started. As inflation is strong, hotels and other properties have raised prices. Many people who want to relax cannot afford it, at least for the local population. In addition, many people planned to go on holiday after breaking the fast, which ended in Turkey a week ago. As a result, more and more of the...
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According to the relevant media, contractors from Turkey completed work abroad totaling $4.3 billion in the first quarter of 2024 alone. Moreover, according to official statistics from the Ministry of Commerce, the total value of projects implemented by Turkish firms abroad has risen to $31.1 billion per year. For example, despite the fact that...
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The Central Bank of the Republic of Turkey confirmed, referring to the monthly Housing Price Index, that the value of residential real estate in dollar terms has been declining for the fourth month. Housing in Istanbul rose in price by 1.2% in Turkish lira in January 2024, in Ankara — by 2.4%, and in Izmir — by 2.8% compared to December 2023. As...
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Rental rates continue to rise. Although they are limited by the rule of increasing by a maximum of 25% per year for long-term leases until July 2024, this does not apply to commercial projects. The Turkish Institute of Statistics has published the dynamics of rent. Taking into account the consumer price index (CPI) for 12 months, rent growth in...
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The Turkish Real Estate Sector Report for the 4th quarter of 2023, prepared jointly by the Association of Real Estate Investment Funds (GYODER) and Ziraat GYO, showed that housing sales fell to their lowest level in the past 8 years decreased by 17.5% YoY to 1,225,926 deals. The fourth quarter showed a decrease of about 23.9% compared to the same...
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We cover a wide range of the hottest topics in the Turkish real estate news for the last week. Land sales in Turkey are at their peak. As for residential real estate, apartments and houses on the Black Sea coast is in high demand. Prices keep going up as well, partly due to the rise in the cost of building materials: concrete alone jumped by 30%....
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