Property prices in Turkey have fallen?
Property prices in Turkey have fallen? Customers ask us. The answer is disappointing. No, did not fall. And in lira even grew. We tell you why and what to expect next. Why real estate prices in Turkey did not fall? Here you can blame several factors. 1. The stability of the financial condition of developers, which was not affected by 3 months of quarantine 2. Government assistance to business. Deferral of loan payments. Lower interest rates. Help with salaries and insurance payments to employees and employees. 3. Reduced mortgage rates and a strong reduction in the size of the down payment for Turkish citizens. The local real estate market has intensified thanks to new very favorable lending conditions.
This entailed an increase in property prices in lira. On the Antalya coast, prices in lira increased by 15% also because residents of the capital cities of Turkey, where quarantine was quite tough, began to actively buy apartments and houses on the coast as a “summer residence” option. What to expect next? Flight Schedules! If the countries of Europe and the CIS do not open their borders and launch flights to Turkey before November of this year, prices in the secondary real estate market in Turkey will begin to fall. But everyone hopes to see foreign tourists on local beaches in July.