While the world continues to struggle with the Covid-19 pandemic, the Covid-19 affected real estate as well as all sectors.
Due to the pandemic, which increased its impact in Turkey in March, property prices first experienced a great decline and prices decreased rapidly.
Due to the Covid-19 epidemic, the prices of detached houses with gardens and balconies increased rapidly with the increase in demand, as people tended to houses with gardens and detached houses.
With the announcement of the cheap housing loan support campaign by public banks in June, the property prices, which hit the bottom, increased at a record rate over a night.
While there were supply problems with the effect of the pandemic, this caused increases in the prices of many construction materials such as iron, cement, gas concrete, chipboard, MDF and parquet by more than 100%.
Again, while Turkey's intense refugee migration increased the demand for real estate, urban transformation projects also affected this process.
Due to the imbalance in supply and demand in the Turkey real estate sector, property prices have increased extremely rapidly in the last 2 years, with the effect of the Covid-19 pandemic.
In the process, especially during the cheap loan campaign initiated by public banks, as of June 2021, property prices increased at a record rate overnight, and it became almost impossible to find cheap houses for sale in Turkey.
For the Property prices in 2022, real estate experts state that housing prices and the construction speed of new housing projects will be the determinant, but they still state that the probability of a sharp decline in housing prices is low.