In his speech to the people after the meeting of the Turkish Cabinet of Ministers (which took place today at the Presidential Palace), Erdogan noted the successful results of the construction and real estate industry in Turkey. According to the president, in the first nine months of 2020, sales of houses and apartments in Turkey reached 1.2 million properties. Home sales doubled in the third quarter compared to the results of the second quarter and reached 537,000 properties. Erdogan also said that industrial production and retail sales in Turkey increased in the third quarter by 30 percent compared to the previous quarter. The capacity utilization rate fell to 63.5 percent in the second quarter and then rose to 72.7 percent in the third quarter. Turkish exports in the third quarter of 2020 increased by 34 percent.
The Turkish government also plans to make a transition to domestic materials for construction and decoration as soon as possible. This will significantly reduce the cost of new residential real estate in Turkey, experts say.