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In the first 8 months of 2020, 1.25 million apartments and houses were sold in Turkey. Market experts predict that by the end of the year, another 0.5 million housing objects may be purchased. In this case, Turkey will set a new record in real estate sales - the annual sales result will exceed 1.5 million properties. The dynamics of sales of Turkish housing indicates that the residents are gradually recovering from the economic consequences of the coronavirus pandemic, and the well-being of people is growing. Representatives of the construction and real estate sector in Turkey are very pleased with the growing demand for housing.
Nazmi Durbakaim, President of the Istanbul Developers Association (INDER): “Summer 2020 has been very successful for the construction and real estate sector in Turkey. In the last three months, home sales amounted to 600 thousand objects. Today we are one step closer to the record 2 million annual sales of houses and apartments in Turkey. In August, mortgage rates rose above one percent per month, but builders managed to negotiate with banks and fix interest rates for their projects at 0.64-0.80 percent. The conditions for this rate fixing are the repayment of the difference by the builders themselves. Obviously, Turkish developers will not be able to comply with these conditions for a long time - to pay extra to banks for their buyers. Therefore, those who still want to take advantage of low interest rates to buy an apartment in Turkey on a mortgage should not hesitate a day."