Since the Turkish economy suffered from many problems last year due to the spread of the novel Corona virus (Covid-19), all sectors in Turkey, including the real estate sector, were affected by these economic developments, but the real estate sector quickly recovered at the beginning of 2021 and properties prices started to increase, but what are the reasons behind the recovery of the real estate sector and the increase of properties prices in Turkey this year?
• Firstly, the decline in real estate offers as sometimes disappeared, since the construction companies temporarily stopped work as part of the precautionary measures to combat the spread of novel Corona virus.
• The exchange rate of the Turkish lira against the US dollar changed, which caused the temporary suspension of construction operations in Turkey, and after easing lockdown procedures in Turkey, these companies returned to work with new properties, which caused the real estate market recovery in Turkey
• Thirdly, facilitating the remotely purchase of real estate in Turkey , as this was one of the urgent solutions that the Turkish government suggested in an attempt to revive the real estate market
• The opening of many vital and tourism projects during the lockdown period, which led to an increase in the prices of real estate near these projects
• The demand for obtaining Turkish citizenship continues in Turkey, despite the slowdown in the flow of transactions due to precautionary measures.
• Natural annual increase of 1-6%
