The Turkish housing market continues to be agitated by the mortgage campaign: both new and under construction apartments in Turkey as well as secondary housing are in high demand. Together with the growth in demand, property prices are steadily rising. Experts predict that in 2021 apartments in Turkey will dynamically rise in price, because construction companies' costs will also increase.
Selcuk Celik, member of the board of directors of the NEF investment and construction company (Istanbul): “In June, the Turkish housing market was observing record sales - the mortgage campaign caused a sharp increase in demand for real estate. By the end of 2020, Turkey will be able to claim the European leadership in the number of real estate sales - our annual sales figures may exceed 1.4 million properties."
A 209.7% growth in property sales was observed in Turkey in June 2020 comparing with the same period in 2019. That month, 190,012 properties were sold. If we take the results of mortgage home sales, in June this year they grew by 1,287 percent compared to June 2019.