Gökhan Taş, Regional Chairman of Turkey Coldwell Banker, said that Dollar’s rise positively influenced Turkish real estate sector, and added, “Because of that real estate properties are bought with Turkish Lira. Turkish market is based on TL.”

Falls in Turkish Lira against Dollar  positively influenced Turkish real estate sector

Gökhan Taş, Regional Chairman of Turkey Coldwell Banker, said that Dollar’s rise positively influenced Turkish real estate sector, and added, “Because of that real estate properties are bought with Turkish Lira. Turkish market is based on TL.”


Speaking at the press conference, Taş expressed that they mediated for 705,302 transactions in 2014 – total worth of transactions were $212.2 billion.

Expressing that there were 1 million 165 thousands title deed transactions in the last year, Taş said, “In the last quarter of 2014, domestic demand in the sector rose, and a 12 percent increase on the house prices was seen,”

In the first 2 months of 2015, real estate sales increased by 7 percent compared to the same period of the last year, while prices increased about 9 percent, Taş stated.

“Russia is in economic crisis, but Arabs come Turkey. There are significant sales to Arabs, especially in Yalova, Bursa, Blacksea, Bodrum and south of Turkey. I know the perception in abroad is different but Dollar’s rise influenced Turkish real estate market positively. Because of that real estate properties are bought with Turkish Lira. Turkish market is based on TL.

In addition, infrastructure and transportation problems in Turkey are being solved. Especially, new metro lines in Istanbul increase the attention for the areas around the city. In the last 10 years, the average age of buying home declined to 33 from 44.”

Source:portturkey.com

Nurullah Kırmacı / emlakcoulisse.com