Turkey Housing Market Predictions For 2023
Homist’s analysis shows that many factors will affect Turkey’s property market. That will lead investors to be more conservative in their investments in Turkey’s market. Statistically, 2023 will not follow the extraordinary growth trend that occurred from 2018 to 2022. In general, Foreign Investors may taken risk averse strategy and their return outlook will be moderated, similarly the demand-supply balance has been effected during 2022. We highly advise our clients to thoroughly analyze the offers they receive from developers or agents. However in long term there is no doubt Turkey’s real estate market would appreciate the investment in real estate with acceptable Return on Investment (ROI). The presidential elections is another effecting critical factor that plays critical role for property market in Turkey which will take place not later than July 2023. The opening of the Istanbul International Finance Center (IIFC) in Istanbul might be one of the few positive factors that could affect growth in property prices. Several developing enterprises and contractors will engage in recovery of southern Turkey to build more than 50,000 houses in affected areas which may lead to shortage of supply in the other regions likes Istanbul and effect in prices of properties.