The Minister of Environment and Urban Development of Turkey Murat Kurum has announced that the Republic will soon take measures aimed at reducing the cost of new housing. The main step in this direction will be the 100% use of Turkish building and finishing materials. If the country produces all required construction materials ad use them in building new houses, this will affect the value of real estate in Turkey downward, the ministry explained. One of the key factors determining the prices of houses and apartments in Turkey is the price of materials used in construction and decoration. Imported materials are dynamically rising in price due to the fall of the Turkish lira, and in addition, due to the outbreak of the coronavirus, supply problems have arisen, which partly continue to this day.
In the near future, the Turkish authorities will develop investment programs that will allow the production of all imported materials in Turkey. This will reduce construction costs by 15-20 percent, experts say.