Stocks of houses and apartments in Turkey are running low and it is highly likely that there will be nothing to sell. This was told by Altan Elmas, Chairman of the Board of the Association of Developers and Investors of Housing Construction of Turkey (Konutder). Konutder is a non-governmental organization that includes Turkish contractors that produce most of the branded housing in the country.
Altan Elmas: “We expected that the stocks of apartments for sale at the current level of demand would come to an end between September and November 2020. However, the coronavirus pandemic postponed this moment by 4-5 months. The last year pretty much depleted stocks of both new and secondary housing, and now, after the mortgage boom, it is expected that the country is going to experience lack of properties available for sale. This cannot but affect prices: as housing stocks run low, apartment prices in Turkey will inevitably rise."