According to the news of Dahab In the first ten months of 2023, home sales in Turkey fell by more than 14% compared to the extremely active last year and amounted to about 994,000 units. In 2023, the number of properties sold is estimated to be 1.2 million, compared to an average of 1.4 million to 1.5 million units in the last three years. Experts believe that high housing prices, high interest rates, restrictions on access to credit and more attractive rates on deposit accounts are to blame for the reduction. The average cost of real estate in Turkey rose in October by 103% compared to last year and exceeded 3 million Turkish liras ($105,000), according to the valuation company Endeksa. Ahmet Büyükduman of Istanbul-based appraisal company Gayrimenkul Değerleme drew attention to a 60 percent decline in home sales using mortgages, saying that this is the main reason for the overall decline. "People no longer see houses as an investment," said Gökhan Taş of MasterTürk Group. "Only those who really need housing buy apartments. Prices in lira are not going down and will not go down...," he added. According to Tash, potential buyers in the market now have a strong bargaining position with sellers. He believes that this situation is likely to persist until the summer of 2024.
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