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Turkey’s real estate market: top news of the week (August 30 – September 5)

 

Maybe the principle occasion of the week was the entry into pressure of the brand new guidelines. That regulate the work of realtors in Turkey. Since August 31, solely licensed businesses have the suitable to promote or hire flats in Turkey. Realtors who promote their properties on social networks with out new permits will face heavy fines. The authorities hope that the brand new guidelines will assist oust non-professionals. And rip-off one-day businesses from the Turkish actual property market. What occurred within the Turkish housing sector throughout the week? The highest property information in English on Turk.Property.

 

    • On the finish of the second quarter of 2020
    • , Turkey was once more named the nation with the very best development price of property costs. In June, we already talked about the truth that flats in Turkey are rising in value a lot sooner than in different European international locations, the expansion in costs for Turkish housing within the first quarter of 2020 was a file 15 p.c. Within the second quarter, Turkey is once more the world chief in condominium costs development: with an 11.59 development price.

 

    • Consultants predict that the rise in property costs in Turkey will proceed for the foreseeable future. The price of new housing is instantly affected by the rise within the prices of growth corporations. The expansion price of residence gross sales within the first half of 2020 was 23.5 p.c. On the similar time, the expansion of mortgage actual property gross sales amounted to a file 221 p.c. Surprisingly, the share of gross sales of flats in Turkey to foreigners fell to an insignificant 0.9 p.c of the full. The specialised media named three major causes for such a pointy decline in international patrons of Turkish housing.

 

    • Turkish architects and designers shared their ideas on how the coronavirus pandemic will change typical residential initiatives in Turkey.

 

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