Despite Corona; Real Estate Sales Rise in Turkey during the Year 2020

Turkey has witnessed a significant and promising increase in real estate sales during the first ten months of the year 2020. Surprisingly, it rose by nearly 27% compared to the same period last year in 2019. That is despite the Corona pandemic crisis, and the expectations of global economy recession.

Real Estate Sales in Turkey Hit New Records

According to the Turkish Statistics Authority report, the period between January and October of 2020 witnessed the sale of 1,280,852 properties.

Likewise, local analysts in the real estate sector expect that real estate sales will reach up to 1.5 million properties by the end of this year. Certainly, this is a high rate compared to last year 2019.

Istanbul leads the Turkish States in Selling Real Estate

In this context, the head of the Turkish Real Estate Developers & Investors Association (KONUTDER), in an interview with Anadolu Agency, highlighted the increasing demand for buying real estate in Turkey.

Furthermore, he added that Istanbul received the largest selling share among the Turkish states, during the month of October 2020.

Meanwhile, many officials of real estate companies confirmed that it is expected to achieve record numbers in real estate sales by end of this year.

To sum up, the number achieved so far in Turkish real estate sales is approximately 1.409.000 properties. Most importantly, it is expected to rise up to 1.5 million properties by the end of 2020.

Edited by: Properties Gate^©

Source: Anadolu