Expectations for 2020 real estate sector, which has been stagnant for some time, are emerging. According to experts, house prices will rise in 2020 due to cost pressure and increased construction costs for construction companies.
Experts say to those who expect to reduce mortgage interest rates: "The real estate sector is under pressure from costs in 2020. Home prices will rise in 2020, without a doubt,"
What happens in 2020 to real estate prices in Turkey?
After the accelerating sales in the Turkish real estate market in recently and reduced interest on bank loans and mortgages and increased construction and materials costs for instruction for construction companies, experts expected prices to start increasing for real estate and apartments in Turkey.
many questioned about the future of real estate prices in Turkey and, the answer of the experts was according to note the high cost of construction from 500-800 Liras per meter increased to 1500-2000 Turkish Liras with the exception of the share of land from the price, which will lead to a decrease in the number of contractors and construction companies that are no longer able Withstand large companies known in Turkey that have a large stock of raw materials that were purchased and produced in advance and before costs rise, which will be a great opportunity to compete with market prices and attract foreign investors and Turkish citizens easily for those who want to seize the opportunity and invest in the Turkish real estate market.
Experts say that the number of homes remaining in the hands of contractors has decreased, and that house prices will rise as illegal houses begins to disappear. Experts note that contractors are increasing the price of the next home with every sale: "Contractors save time paying their debts with the sale they're doing. They are trying to offset the high building costs by increasing the prices of their Apartments as their urgent cash needs decrease." And speaking of reducing interest, experts say that interest rate decreasing on housing loans are not always in the interest of the consumer. House prices rise between 20 thousand TL and 50 thousand TL with a lower interest rate for each housing loan, which causes the interest to be given to the property owner. "
What are the prices of real estate and apartments for the year 2020 in Turkey?
Experts expressed their opinion that after 2020 home prices will rise. But it will be gradual and will continue to rise during the coming years, and the major construction companies that still have a large stock of raw materials will remain competitive with prices to be able to acquire a greater market share in front of competitors, which is what experts see as a golden opportunity for foreign and Turkish investors considering that in 2020 It will be the beginning of the rise in the prices of apartments in Turkey and will be followed by a gradual rise during the year.