This forecast was made by Mehmet Kalyondcu, President of GYODER, Turkey's largest investment company. His interview on the future of the construction and housing sector has been published today by the Turkish real estate newspaper Emlak Kulisi. According to the expert, if Turkish banks continue to offer low interest rates to homebuyers, then the total sales for 2020 will exceed last year's result by 15-20 percent:
“Today’s situation is that people who were only planning to buy a home are now becoming real buyers. I believe that in 2020 we will be able to surpass the 2019 sales figures. I expect that home sales in 2020 will be 15-20 percent higher than in 2019."
In 2019, apartment sales in Turkey decreased by 1.9 percent compared to the previous year and amounted to 1,348,729 properties in total. However, the last quarter in 2019 became the record holder for home sales since 2013 (483,256 objects in three months). In December 2019 alone, 202,074 objects were sold in Turkey. In January 2020, the country continued experiencing active real estate sales: 341,038 properties were sold in a month (almost 33 percent more than in January 2019). February 2020 was also successful in terms of home sales (by 13.94 percent more sales than in February 2019). However, in the spring, due to the coronavirus pandemic, the Turkish real estate market literally stalled for ten whole days.