In light of the coronavirus trade, demand towards summer homes and independent residences in Turkey is moving significantly, according to the analysis of a senior official at the real estate evaluation portal. This report includes details about rising prices of independent homes and rentals, reflecting a clear shift in real estate market trends in Turkey.
House prices rise
Endeksa.com data indicates that the average price of detached homes has jumped 25% since March 10, Date of confirmation of the first Covid-19 case in Türkiye, According to the Chairman of the Board of Directors of Endeksa.com, Gurkum Ogut. Independent home rental prices also increased by 18% on average.
Demand has shifted to rural and coastal areas
In light of the effects resulting from the pandemic, The Endeksa.com report shows that the demand for secondary homes in rural or coastal areas will continue to rise. Ogut comments: “We have noticed that the demand for housing has moved from large cities to others, Especially to summer resorts and homes in mountainous areas.”
Prices will rise in the coming period
According to Ogut’s predictions, It is expected that this increasing demand will lead to a rebalancing of real estate prices in the coming period. Add: “We greatly expect a rebalancing of real estate prices in the coming period.”
Frequently Asked Questions
Can I get a mortgage during the pandemic?
Yes, Many banks offer real estate financing options with favorable terms to meet the needs of customers during this exceptional period.
Can I rent a house in rural areas affordably?
Yes, The Endeksa.com report indicates that there is a growing demand for housing in rural areas, Which may lead to continued availability of affordable options.
Is there an expectation for real estate prices to improve in the near term?
Yes, According to the Chairman of the Board of Directors of Endeksa.com, An improvement in real estate prices is expected in the coming period as a result of shifts in demand patterns.
Current data shows a clear shift in the real estate market in Türkiye, Buyers’ interest is focused on summer homes and rural areas. The analysis indicates that these trends will continue in the coming period. With expectations for a rebalancing of real estate prices.
