The Turkish real estate sector is witnessing a qualitative leap in these days due to real estate investments and increasing demand for buying properties. The figures published by the Turkish Statistical Institute showed that there was an increase in sales in August of this year by 4.7 percent compared to the same month of last year.
The month of September witnessed a high demand for real estate in Turkey, especially with the opening of the new school year, where a large number of people returned from the areas of summer places to cities, that’s why cities have seen a great demand for both properties for sale and lease alike. For this reason, both October and November will witness a significant increase in property demand, which will make real estate the most profitable tool of the period. It is therefore expected that this vital sector will be strongly supported as the engine of the economy and its vital artery.
Experts attribute the high demand for this sector to increased stability in the Turkish markets, especially after the recent reforms by Turkish governments, in addition to increasing the strength of the Turkish lira against other currencies and, most importantly, the political economy prevailing in the state, Passed in April on the Turkish constitution, in which the people chose the presidential system to be the new regime of the country.
The real estate sector is the lifeblood of the economy as it is closely linked to more than 200 sub-sectors that return to it, which makes it a sector that cannot be abandoned. The month of August witnessed a qualitative leap in this sector, where more than 120,200 apartments were sold this month alone.
According to the data, Istanbul topped the list of sales across Turkey, with 24.4 million square meters sold in this huge city, followed by Ankara with 13.5 million square meters and Izmir with 702 million square meters.