In general, elections can have an impact on the real estate market in any country, including Turkey. Elections can create uncertainty and instability, which can lead to a decrease in real estate transactions and investment. Additionally, changes in government policies and regulations can affect the real estate market, particularly in areas such as taxes, zoning laws, and infrastructure development.
That being said, Turkey has a large and diverse real estate market, with a significant amount of foreign investment. Despite political and economic challenges in recent years, the real estate market has remained relatively stable and continues to attract investors from around the world.
As summery of our studies we have two scenarios for real estate market:
Scenario 1: If Erdogan wins
The trends of market will continue and housing prices will probably hike during next 5 years.
Scenario 1: If Kilicdaroglu wins
Real estate market will face more stable on housing prices.
In the run-up to the Turkish elections, there may be some fluctuations in the real estate market, particularly in the short-term. However, it is important to note that the long-term fundamentals of the market are driven by factors such as population growth, urbanization, and economic development, rather than just politics.
In conclusion, while elections may have an impact on the real estate market in Turkey, it is important to take a long-term perspective and consider the overall economic and demographic trends driving the market.