House sales in Turkey are decreasing by about 30% on average. On the other hand, even though, there are more than a million housing stock prices are increasing by about 30%.
The science of economics draws attention to the fact that the supply/demand relationship is very important when determining the price of a product.
This means that the price of a property that becomes scarce increases. The real estate market has also become very interesting in Turkey.
The demand for Turkey real estate has seen a rapid boom in recent years. Thousands of real estate investors and foreigners from all around the world came to Turkey for buying property here.
So what is the reason why prices are not falling? As the real estate market representatives have stated, the increase in costs has no share in this. Because the rising cost only applies to newly constructed buildings.
The costs of a manufactured product do not rise except for operating expenses. In other words, construction costs do not affect a product that is completed and waiting for sale.
Secondly, the previously applied lending.
They do not reduce the prices on the possibility of obtaining the stocks at their current prices with low-cost loans to be given through public banks.
Of course, another factor in the increase of prices is that the valuation expertise system has not been implemented. Since the valuation experts of the CMB were not commissioned, they reveal the price they want. But still by comparing to the European countries the real estate prices are very affordable in Turkey. That is why everyone prefers Turkey.