Turkey is continuing to experience a significant growth in mortgage loans. The construction and property market has started recovering and is directly and indirectly influencing tens and hundreds of economic sectors affected by the current pandemic. The leaders in property sales are Turkish citizens, the share of foreign property buyers is relatively small. However, Turkish developers and real estate agencies have high hopes for Germans and Russians, who will be able to return to their favorite resorts in late summer or early autumn. What has happened in the Turkish real estate sector over the past week? The top property news in English on Turk.Estate.
- Turkey has set a historic mortgage record over the last five weeks. Mortgage transactions worth $ 160.3 million are concluded daily in the country. The number of apartments sold in five weeks with a mortgage exceeded the number of sales of the entire last year.
- Housing in Turkey is continuing to rise in price because of the new special mortgage campaign, which hundreds of thousands of Turkish families have now decided to use. Since the beginning of June, apartments have risen in price by 30 percent. The authorities are investigating this sudden sharp growth in price.
- In June, every third real estate transaction was performed online. The cadastral administration of the country has launched WEB TAPU - a special application that allows you to register a property deal online.
- In Turkey, multi-storey country villas and mansions are becoming less and less popular, being overtaken by one-story small houses with a garden.