Real estate market statistics in the third quarter of 2021
The Turkish real estate market returned to recovery at the end of the third quarter of 2021, Gürkem Ogut, co-founder and general manager of the ENDEKSA platform, said: “The real estate sector, which faced difficult times in the early days of the epidemic, and after the closure, periods began to rise again, in the third quarter of the year 2021.
If the real estate investment world in Turkey is an essential part of the Turkish economy, the latter’s steady growth will necessarily include the growth of the real estate world. According to the latest statistics of the Turkish Statistical Institute (TU IK), the Turkish economy grew by 9% in the third quarter of 2021.
The real estate platform ENDEKSA, in partnership with TÜGEM, issued the Turkish real estate market report in the third quarter of 2021, confirming that housing sales in Turkey increased by 37% compared to the previous quarter.
According to the report, real estate prices throughout Turkey have increased by 30%, with the expectation that the rates will continue to rise for the coming period, which makes the time appropriate to decide to purchase your desired property.
Istanbul came on top of the list of states selling real estate, and the annual value of housing prices in Istanbul increased by 27%, as about 71,399 housing units were sold.
It is worth noting that used homes in Istanbul accounted for 70% of the total sales, as 277,050 used homes were sold, thus, sales of used homes increased by 37% compared to the previous quarter of the same year.
The percentage of foreign sales increased in the second quarter of this year and reached 220% compared to the same period last year.
The Global Real Estate Guide also issued a report confirming the rise in real estate prices in 17 countries, and according to the report, the Turkish real estate market was evaluated as the most attractive market in Europe.
The report stated that the Turkish real estate market is of exceptional economic value due to low inflation rates and low-interest rates, and also stressed that Istanbul attracts foreign investors to the real estate market, as well as attracts tourists to its landmarks.
Finally, we remind you that Estatenation encourages you to invest in real estate in Istanbul of global importance located within Turkey’s safe investment environment, Call now.