Record Expectancy for Housing Sales

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In parallel to the housing sales in December 2016, the specialists predict a record expectancy for housing sales.

Sales in real estate industry have raised 4.5% in 2016 compared to the previous year. (2015) 1.200 house have sold and this is resulted in sector mobilization. The Turkish Statistical Agency declared the economical table related with the housing sales and now there is a possibility for a record in industry.

İstanbul Builders Association evaluate the sales rises in a one year period. The chairman of the management Nazmi Durbakayım explained that the sales quantities in the first 11 months of the year exceed 1 million 198 thousand. He also says that they are hopeful for the next period and expect an annual closing at a sale level of 1 million 300 thousand or 1 million 350 thousand.

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The Biggest Factor is Interest Fall

Ömer Faruk Çelik (management of the KONUTDER) expressed the reason of the rise in housing sales by the interest rate. According to him; the interest rate has decreased after the calling of Recep Tayyip Erdoğan (The President of Turkish Republic) and this factor has been effective by 100% in the sales of the real estate industry. He also stated that the rising is especially at very high level for the last two months. (25%) After Recep Tayyip Erdogan’s speech, first the public banks decrease the interest rate from 1.10-1.15 to 0.90 levels. Also other banks followed the public ones and attracted interest down. As a result of these developments, people are directed to buy houses.

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