The Turkish real estate sector breaks expectations, bypassing heavy pressures and crises !!

Global crises and fluctuations are overtaken by the real estate industry in Turkey, how is that? 

The Covid-19 outbreak has hit real estate sectors around the world, and left a negative impact on each of them, confirming both the negative global expectations on the economic aspects and fears of material and financial risks, far from Turkey, which has taken precautionary measures to get the real estate sector bypassing one of the most difficult crises that it may go through. . 

Gentle affected and fast recovery 
In an interview with Anadolu Agency, Medhat Yani Kun, President of the Union of Real Estate Contractors in Turkey, said that there are several factors that have negatively affected the real estate sector around the world, the most prominent of which are persistent apprehension, massive fluctuations in material prices and other political risks, airport closures, and travel and curfews. . 

He pointed out that, in light of these obstacles, the real estate sectors witnessed a dramatic decline in sales rates, and that the virus had inflicted heavy losses on many countries, such as Italy, Spain, Germany, United State and others. 

And the real estate industry in Turkey also was affected , but the movements to support bank loans to housing, reduce interest and many measures contributed to suppressing the expected damage and initiating a fast recovery. 

He stressed that the Turkish real estate sector is a vital sector of great importance as it has a huge size and ranks third around the world. 

How did Turkey aid the decline in sales? 
The decline in local turnout rates and the fluctuation of demand for real estate acquisition in Turkey due to the virus during the past year, caused a slowdown in the course of the Turkish real estate sector, which was not accepted by real estate and construction companies, which prompted them, in cooperation with the government, to launch a new method of real estate ownership through online purchase and ownership for foreign investors with discounts, some of which reached 30% of the property's value 

This attracted a large percentage of foreign investors and ensured that sales continued to be achieved perfectly as usual. 
In addition to the government launching many loans to the local population, those that contributed to reducing downturns and reviving the economy so that it could record growth rates of 6.4% in the heart of the Corona crisis during 2020, and with this Turkey played on the domestic and foreign sides in a more rapid way, the decline in sales and turned the ordeal into a grant. 

The revolution in obtaining Turkish citizenship: 
The Corona pandemic was not sufficient to stop foreign arrivals to Turkey in order to invest in real estate to obtain Turkish citizenship. Contrary to expectations of a decrease in the number of foreign investors interested in obtaining citizenship due to the Corona pandemic, the results were very positive and the percentage of those coming to own property via the Internet was very dense until it exceeded the value Online real estate the barrier of 100 million. 

Despite the lack of certainty about the epidemic in Turkey and the world, Turkey is looking forward to the current year 2021 with a look of hope, attaching great importance to reform projects that the government had announced to support the economy and contribute to the development of the Turkish state. 

The global economy and the Turkish role: 
Expectations currently revolve around the global economy moving from recession to a growth spring in the year 2021, and accordingly experts expect Turkey to play an important role in this paradigm shift, and that the real estate sector will contribute 20 billion dollars to protect the Turkish real estate industry and overcome the stigmas of the Corona virus. Dominated and is still in control of the global markets. 

 

Edited by: Ramzy Real Estate 

© Source: Anadolu Agency