The report delves into the intricacies of the Turkey property market during the first quarter of 2024. Through meticulous analysis of key statistics and trends by Realty Homist experts, we aim to provide valuable insights for investors, developers, and stakeholders operating within this dynamic sector.
While third-quarter transactions in 2023 show a 1% increase, we are still witnessing a 14.9% decrease in the first nine months of the year compared to a similar period in 2022, according to statistics. The recent increase in bank interest rates has had a direct impact on housing transactions with bank facilities. In fact, September saw the lowest real estate transactions since 2021, and this trend is expected to continue through the end of 2023.
Source: TUIK In line with economic challenges in Turkey, real estate market continued decline in transaction volume. New baking strategies regarding the increase of interest rates has significantly effected the market. International investors in Turkey account for only 3% of transactions. #homistgroup#realtyhomist#buyhomeinturkey#investinTurkey#residenceinTurkey#homist#istanbul#luxuryhomes#ramsbeyond#emaar#ritzcarlton#bomonti#citizenship#russia#usa#uk#togetherwebuildwealth
Late December, officials of Turkish government announced new major changes will take place from 1 January 2023 regarding Turkish citizenship law. Homist team has summarized the main implications of new regulation as below: 1, Pre-sales Agreement for immovable property has to be signed as a single contract for one immovable property 2, Immovable property value […]
Ümraniye is very large working class district on Asian side of the city. It was a rudimentary district short time ago. Recently, there has been a great deal of change all around the district. With the projects such as building complex, large shopping malls, entertainment centres and environmental urbanization , Ümraniye is fastest growing district […]