Housing market changes
Typically, Turkey has been a country of rentals. Few people own their own home as renting has always been a better option. However, recent research suggests that buying is now the preferable option. The number of new constructions has doubled in the last year. Whether it’s renovating older residence blocks or brand new apartments being built on new land, the rate is extraordinary.
So who’s buying them and where?
Most of the apartments are being built by the sea and are being sold in Euros. The buyers of the houses are generally from Europe, Iran, Qatar and Lebanon. Realtors say the coronavirus pandemic has triggered real estate investment in foreigners. One real estate agent commented that the investments were "like a gold rush". As the increase in buyers grows the amount of properties needed also grows, hence the staggering new amount of constructions.
Now is absolutely the time to buy a property even if it’s just future proofing your retirement. Contact Summer Homes today and we can help you start your home buying journey.