A selection of the most relevant news of the real estate market of the Republic of Turkey is in our weekly digest.
According to official statistics published recently, April was not the best month in terms of real estate sales: the volume of transactions fell by 35% compared to the same month of the previous year. Foreigners also bought less housing; one of the possible reasons is that potential buyers are waiting for the outcome of the presidential elections, which were not limited to one round.
But there is a lot of news concerning significant infrastructure projects and social life. So, a large solar power plant appeared in Konya, and in Mersin the authorities took care of improving the situation with gas and water supply.
Discussions are continuing on the details of laying an expressway - an additional highway between Antalya and Alanya, two key resort cities of Antalya province.
In Istanbul, work continues on the National Garden, which will become the largest in Turkey.
More attention is paid to the convenience of everyday life: for example, excessive household and not only noises in residential buildings and neighborhoods are now fraught with significant fines (to clarify: fines, when confirming the guilt of the owner or tenant of an apartment or house, were before, but have now risen). And the solution of neighborhood disputes will now be handled by intermediaries, who, as disinterested persons, will find it easier to find a compromise between the dissatisfied parties: this should theoretically reduce the number of lawsuits on a domestic topic.
Turkey is waiting for the results of the second round of the presidential elections of the Republic. Because most likely, immediately after this event, there will be some news regarding the limits set by the state for increasing rental rates, or the policy of selling housing to foreigners, or some other issues in the field of real estate sales or all of the above together.