The demand for new and under construction apartments continues to grow in Turkey. While the number of homebuyers is growing (thanks to the new mortgage campaign), the number of tenants of real estate in Turkey continues to decline due to the coronavirus pandemic. However, while apartment rentals in Turkey are becoming less popular, the popularity of country house rentals is growing - from luxurious villas with a private garden and a swimming pool to small summer cottages. Turkish residents planning their vacation in the summer 2020 are less likely to buy tours to crowded hotels, preferring to rent a villa with a pool.
Ahmet Ozturk, real estate consultant (Bursa): “Everyone who thought about mortgages after the pandemic has already bought an apartment now. So did those who still lived in rented housing - many rented apartments are without tenants. In addition, many apartments that have been recently bought are now rented out, which is why the rental housing market is overcrowded with offers. Currently, there is no increase in rental prices in Turkey - because the supply greatly exceeds the demand. However, this does not apply to the resort regions - the Aegean and Mediterranean coasts, where today it is very difficult to find an apartment for rent."