Despite high financing rates, the demand for housing does not decrease.
It seems that confidence in buying apartments/houses here in Turkey remains high. The Turkish Statistical Institute announced the house sales figures for July as 107,785. Whilst this is a slight decrease compared to the same period last year, it is hopeful news.
In 2020 there was a low-interest housing loan campaign led by public banks which meant that housing sales in 2020 broke the 1.5million record. The month of July 2020 was the month with the highest house sales in history with 229,357 units. Although there was a decline in July 2021’s data it should be noted that the monthly sales are over 100,00 units. If a loan campaign is organised this year, it’s possible that we will reach record numbers again.
Although credit applications are at a very low level, it seems that people are instead making cash payments. Additionally, interest from foreigners looking to invest in property in our country is at an all-time high.
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