Colliers International released 2015 Turkey review report.According to Colliers International 2015 review report, housing sales has decreased in Istanbul last year compare to the previous year.

Housing sales decreased in Istanbul last year

Housing sales decreased in Istanbul last year


Colliers International released 2015 Turkey review report.According to Colliers International 2015 review report, housing sales has decreased in Istanbul last year compare to the previous year.

Every year the demand for housing in Istanbul, the most densely inhabited city in Turkey, grows in line with its continuously expanding population. The rising demand for housing is met by the existing housing stock plus new housing production. Accordingly, house purchase prices

throughout Istanbul are following an upward long-term trend. House purchases peaked in 2013, partly under the impact of falling mortgage interest rates. While house prices in Istanbul fell back 4% in 2014 over the previous year, Turkey as a whole saw an increase of 0.7%. 

Factors contributing to the fall in housing sales include:

• Rising sales prices coupled with increased construction costs

• Rising mortgage interest rates

• Economic and political developments in the country

• A failure to analyze the demand for housing production correctly. 

Source:Colliers

Nurullah KIRMACI / emlakcoulisse.com