Official data has been published on the monthly and annual growth in apartment prices in Turkey: in August, Turkish housing prices rose by an average of 2 percent, on an annualized basis - by 22 percent. The dynamics of price growth in the context of the coronavirus clearly demonstrates that it is profitable and promising to invest in real estate in Turkey. What else happened in the Turkish housing sector during the week? The top property news in English on Turk.Estate.
- Residents of Turkish cities are selling their apartments in order to buy a plot of land in the suburbs, build a modest house and a farm. The coronavirus pandemic made people reconsider their housing preferences.
- Turkey's construction and real estate sector continues to keep the country's economy hit by the coronavirus pandemic afloat. The finance minister noted the increase in August sales of houses and apartments in Turkey (more than 170 thousand objects), which reached 54.2 percent compared to last year's August.
- One of the reasons for the rise in apartment prices in Turkey is the dwindling stock of new and secondary real estate. During the mortgage campaign, Turkish citizens bought out almost all the houses and apartments for sale.
- In 8 months of this year, a record number of housing has been sold in Turkey - more than a million apartments and houses!
- The number of foreign buyers has significantly decreased due to the coronavirus: in 8 months of 2020, foreigners bought almost 21 thousand housing properties in Turkey.