Emlak Kulisi has published an analytical report on the state of the Turkish real estate market in the first half of 2020. According to official data released by the construction and real estate newspaper, the growth rate of home sales in the first six months of 2020 reached 23.5 percent. The growth rate of sales of mortgage apartments and houses amounted to a record 221 percent.
As the publication comments, the growth in demand has been due not only to the mortgage campaign, which started in early May (i.e., fell at the end of the first half of 2020, having managed to influence a sharp increase in demand for housing). The second factor contributing to the growth of real estate sales in Turkey is the decrease in the number of new projects: in the past four years, the number of new construction projects in Turkey has been steadily decreasing. This led to the fact that by 2020, despite the pandemic and related restrictions, the demand for new housing in Turkey began to exceed the offers available on the market.