Housing market Will Continue to Rise in 2022
Turkish Statistical Institute (TUIK) has recently announced the housing sales statistics for 2021.
It seems that there was a 0.5% decrease in house sales when compared to last year. Possible reasons for this lie in the pandemic, which negatively affected construction and real estate companies and fluctuations in foreign exchange.
It is felt amongst industry giants that whilst at the end of 2021 the housing market demonstrated a downward trend, 2022 looks like it will rise and that construction and real estate sectors will continue to produce to meet the needs of the increasing population in Turkey.
Between January and December 2021, a total of 1,491,856 houses were sold. Istanbul had the highest share with 276,223 houses, followed closely by Ankara with 144,104 homes.