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The Real Estate Sector Will Witness a New Acceleration After the Constitutional Referendum

: 2017-04-22 Modified date : 2019-03-30

The Real Estate Sector Will Witness a New Acceleration After the Constitutional Referendum
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"Turkey real estate sector will see rapid growth in the coming future following the completion of the Turkish referendum which resulted in the approval of the constitutional amendments, which in turn led to return of stability to many markets most notably the real estate market", said Hakan Olmacekli, general manager of Altin Emlak.

He pointed out that the result of the referendum has contributed significantly to answer many questions about local markets, which have led to increased confidence of both local and foreign investors in the markets.

He also added: "The questions and instability that prevailed in the real estate market has ended after obtaining the preliminary results of the referendum after a few hours only and positive movements in many investments in the stock market were observed."

Several recent studies indicate that an increase is expected in the number of apartments that will be sold in the rest of Turkey, which will exceed 100,000 apartments in the near period, which is a great gain for the markets and gives a new acceleration in growth.

In the coming period, prices are expected to increase by %10. The decline in the dollar exchange rate is an important point for those wishing to obtain housing loans and will increase their number, which will lead to an increase in the trend to buy new properties. Experts are expecting an increase in loan utilization to almost %40 and real estate prices will see a significant increase in the second half of 2017.

Turkey's real estate sector has grown in recent months due to several factors, such as facilitating foreign ownership and tax exemptions for foreign investors who want to buy a property in Turkey.

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