The volume of residential real estate sales collapsed almost all over the world – but Turkey was not affected.
The Republic has become one of the few states where the volume of transactions for the purchase and sale of residential real estate continues to grow in parallel with the increase in prices for it. Recall that only in Istanbul, residences have added an average of 145% in value over the past 12 months.
Such undisputed leadership of Turkey in the housing market caused a great resonance. After all, even following the results of June alone, the number of transactions increased by 11.7% compared to the same month last year (150,509 transactions). During the first half of the year, 726 thousand residences found new owners in Turkey – immediately 31% more than in January-June 2021.
Market experts name the following main reason, in their opinion: tenants with savings tend to refuse to rent and purchase housing – even if resorting to bank loans; to make the available amount, even a small one, as a start-up payment. And in the future, no longer worry about a sharp increase in tariffs by the owner of the housing, but pay a fixed monthly fee until a full settlement with the bank.
Those who do not have an urgent need to rent a house realized that investing in real estate is something that will not depreciate and is guaranteed to add in price. Especially in such a popular country as Turkey. And especially at resorts.
Moreover, within the framework of periodically announced promotions, you can purchase residential real estate with an amazingly low initial fee - from only a few thousand liras: for example, collateral housing from banks. Just the other day, two financial organizations of the country offered this option at once.