November 2023 showed a decrease in the rate of turkish property sales

According to statistics for the first 10 months of 2023, 994,000 residential properties were sold in Turkey. This is 14% less than in this period of 2022. On average, the sales figures for the last three years ranged from 1.4 million to 1.5 million housing units per year. Experts attribute the current situation to excessively high interest rates on mortgage lending, as well as the rate of growth in property prices. Only by October the cost of housing in Turkey increased by 103%. Analysts believe that in the near future we should not expect a decrease in prices. Therefore, for those planning to invest in property, the purchase will remain profitable.