Housing Sales on the Rise: Demand and Prices Increasing
- 27 Eyl 2024
- 1 dakikada okunur
Demand and Prices Increasing.
Turkey's real estate market is experiencing a notable upturn in the third quarter of 2024. Özkan Yalaza, General Manager of Real Estate Service Partnership (GHO), predicts that the recent increase in housing sales will continue.
Factors Influencing Housing Demand
Expectation of interest rate reductions
University reopenings
Employee transfer periods
Rising rental prices
Yalaza stated, "Housing demand is particularly high in the Aegean and Antalya regions. We expect sales to remain strong in the last quarter of the year."
First Half of 2024 and Current Situation
Following a stagnant period in the first half of 2024, the market is now showing signs of revival:
The lowering of interest rates by public banks has strengthened expectations for housing price increases.
According to TÜİK data, housing sales in August increased by 10% compared to the same period last year.
Approximately 134,000 homes were sold in August, indicating a return to normal market conditions.
Investor Response
Yalaza noted that investors have also reacted to this market activity:
Stable prices have prompted those in need of housing to take action.
Investors have moved to make purchases before prices increase.
High rents are driving many towards home ownership.
Mid-segment housing prices have begun to rise with increasing demand.
In conclusion, Turkey's housing market is going through a dynamic period influenced by economic conditions and changes in consumer behavior. This trend is expected to continue in the coming months.
Investment expert and consultant: Engineer Sotoudeh
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