As usual on Fridays, we bring to your attention a digest of news in the field of residential real estate and construction in Turkey over the past week.
The housing rental market continues to boil without subsiding; one of the key news is that the 25% limit on rent increases per year under long-term contracts has been extended, and this has been finally confirmed. Inflation, however, has not gone away; and homeowners continue to invent new ways to evict former tenants and settle new ones, already at a higher rate. In particular, a number of cases of closing accounts on the initiative of the owners of apartments and houses have been recorded - so that the tenant simply could not transfer money for rent and was formally considered a defaulter (which means he could be evicted).
In particular, in order to regulate such and other ugly situations, the authorities are gradually transferring all bureaucratic and financial issues related to rental housing into a fully electronic format - so that everything is as transparent as possible.
One of the most important news of the last week is that it has already been confirmed that after the successful completion of the presidential election, housing sales, which had sunk in the spring, began to level off; deferred demand is being realized. Foreigners in May also purchased residential real estate noticeably more than in April; the 20 states whose citizens showed the most activity last month are listed here, along with the number of transactions.
Several large and very interesting residential complexes have been announced at once this week. Including in Ankara, in the largest Turkish metropolis (Istanbul) and in the third largest metropolis of the country - Izmir.
Also, a whole district consisting of ultramodern bungalows will appear near Istanbul.