Apartments in Turkey will continue to rise in price. The reason for the further rise in prices is no longer the mortgage boom (which is gradually reducing turnover), but the rise in prices for the key materials for housing construction - iron and concrete. Turkish developers and real estate sellers are engaged in fierce discussions with producers of metal and concrete: the former oppose the increase in prices for essential materials while manufacturers argue that the rise in price was inevitable. What else happened in the Turkish housing sector during the week? The top property news in English on Turk.Estate.
- Turkey is expected to hit the world record for real estate sales in 2020. From January to September 2020, more than a million residential properties were sold in Turkey. Experts predict that another half a million apartments and houses may be sold by the end of 2020.
- Meanwhile, the Turkish authorities have begun to prepare a new Law on Real Estate, which will regulate the housing and commercial property market, especially the sphere of purchase and sale. The work on the new law was initiated by the Turkish real estate agencies.
- Land sales in Turkey increased thirtyfold during the covid pandemic. If earlier investors were more willing to buy apartments in big cities, then with the coronavirus restrictions, many prefer to buy land. Why is it considered promising today?
- Turkey continues to actively introduce latest technologies in all spheres of life, including the construction and real estate sector.
Residents of 148 countries have already become the owners of houses and apartments in Turkey. The Turkish authorities are offering foreigners to use the new online platform, which allows them to get all the necessary information about buying real estate in Turkey.