A selection of the most relevant news of the real estate market of the Republic of Turkey is in our weekly digest.
The focus of media attention is still on the elimination of the consequences of the devastating earthquake that occurred at the beginning of last week. However, for the same reason, a number of issues on the agenda have become even more urgent.
In particular, the volume of new construction, which is now a huge need. Also, whether the 25% limit on the maximum increase in annual rent, valid until July 1, 2023, will be canceled.
As more and more wealthy buyers decide to purchase more than one apartment, and often buy lots in the same building and on the same floor, combining them, the questions are increasingly being asked: is it possible to pay one aidat for these apartments "two in one"? This question is answered by lawyers.
Analysts predict a possible decline in prices for elite lots.
Those who are looking for the most budget housing may be interested in another action: a subsidy of 200 000 Turkish lira for the purchase of a ready-made "factory" house.
Those who purchase a secondary real estate within the framework of the preferential program will be offered installments. As for the social project "My New Home", the number of applications for preferential residences from middle-income households have already become clear: this is the second stage of the program, after providing housing for families with low and below average income.
The media also published an analyst that "the index of confidence in the construction sector is growing," but this is mid-winter data (statistics are published belatedly), and after the tragic events of February 7, the notorious "trust" raises a number of questions. At a minimum, developers must comply with the required standards.
The advice to potential buyers in this situation is the same: to choose the developer from whom you are going to purchase housing as carefully as possible.