Record of 2018 and real estate market forecasts in Turkey
The 2018 for Turkey was an important year for the real estate market. The records that were achieved in fact were different, exceeding the thresholds set by economists, especially in the last quarter. To favor these results, undoubtedly was the process of legislative amendments that have led to a revival of the real estate developers' campaigns but also of the banks to bring together supply and demand (especially foreign).
At a percentage level we are talking about very high values, about 80% more than in 2017. 40 thousand were the properties sold in the real estate market, compared to 22,000 in 2017. The first choice, for obvious reasons, was Istanbul, the capital of this wonderful land.
Foreign investors bought 14,000 properties in the last quarter of 2018 and it is expected that this trend will continue in the year just begun. Immediately after the capital, in the ranking of the most popular cities for Turkish brick, is positioned Antalya, a magical place, with its breathtaking waterfalls and castles of the Roman era.
Here the number of properties purchased is obviously lower, but still important (approximately 7,500 housing units are calculated). In third place is Piazza Bursa, the city of mosques and home to the Uludag National Park, very famous for ski lovers. More than 2,000 properties sold: this is the level reached by this city. If these were the data that characterized the year just ended, there are no less those related to what has just been inaugurated.
According to the Istanbul Constructors'Association (INDER), the record achieved last year in real estate sales in Turkey, exceeded 1.4 million despite the increase in deposit rates by 30%. The first quarter of 2019, precisely because of this problem of deposit rates, could limit the expected boom, but it is also true that the same rates could fall and become more reasonable during the year.
There is a great deal of confidence in investors, the same ones that have contributed more than 1.5 million capital in Turkey (between purchase and construction). The alliance established with potential buyers has caused a real domino effect on sales, but also for leases. And the Turkish government took the ball to make the most of this period of splendor.
Both the real estate sector and the rest of the Turkish economy have reached an unprecedented level of modernization.
Commercial properties have also caused a great deal of interest on the demand side. Among the various advantages of the Turkish economy, we undoubtedly identify the reduced taxes and inventiveness, the presence of a well-connected domestic market, the centralized position between east and west, Europe Asia and Africa, the climate for investments liberal and reformist and a competitiveness that drives competition with neighboring nations.
What to say, for Turkey, this year has begun really good!
At a percentage level we are talking about very high values, about 80% more than in 2017. 40 thousand were the properties sold in the real estate market, compared to 22,000 in 2017. The first choice, for obvious reasons, was Istanbul, the capital of this wonderful land.
Foreign investors bought 14,000 properties in the last quarter of 2018 and it is expected that this trend will continue in the year just begun. Immediately after the capital, in the ranking of the most popular cities for Turkish brick, is positioned Antalya, a magical place, with its breathtaking waterfalls and castles of the Roman era.
Here the number of properties purchased is obviously lower, but still important (approximately 7,500 housing units are calculated). In third place is Piazza Bursa, the city of mosques and home to the Uludag National Park, very famous for ski lovers. More than 2,000 properties sold: this is the level reached by this city. If these were the data that characterized the year just ended, there are no less those related to what has just been inaugurated.
According to the Istanbul Constructors'Association (INDER), the record achieved last year in real estate sales in Turkey, exceeded 1.4 million despite the increase in deposit rates by 30%. The first quarter of 2019, precisely because of this problem of deposit rates, could limit the expected boom, but it is also true that the same rates could fall and become more reasonable during the year.
There is a great deal of confidence in investors, the same ones that have contributed more than 1.5 million capital in Turkey (between purchase and construction). The alliance established with potential buyers has caused a real domino effect on sales, but also for leases. And the Turkish government took the ball to make the most of this period of splendor.
Both the real estate sector and the rest of the Turkish economy have reached an unprecedented level of modernization.
Commercial properties have also caused a great deal of interest on the demand side. Among the various advantages of the Turkish economy, we undoubtedly identify the reduced taxes and inventiveness, the presence of a well-connected domestic market, the centralized position between east and west, Europe Asia and Africa, the climate for investments liberal and reformist and a competitiveness that drives competition with neighboring nations.
What to say, for Turkey, this year has begun really good!
