The real estate sector was the locomotive of the economy and the industrial growth of Turkey in 2016. The sector experienced stagnation during the past year after a boom in sales in 2015. In 2016, 1 million 289 houses and condos was sold. The real estate specialists estimate that the sector will be booming in 2017 and the record of 2015 in house selling will be broken. New projects which will add great value to national economy have already been introduced and the worth of these projects is over a billion dollar.
The real estate specialists inform that over 35 billion dollars of investment will be made during 2017. With the current local and economic indicators showing the investors will re-invest in Turkey in this year. The specialists also expressed that the sector will gain its dynamism back with the increase and this will add great value to the national economy.
They also add that after the stagnation in sector, in 2017 house prices will increase with the new developments and stability in economy, and this makes investing in real estate more profitable than last few years. With the projects introduced including malls and the investment plans of construction, they are ready to invest above 2.7 billion dollars for total 8 projects and 6 of them are in Istanbul region. Some of these projects are already been in construction and will be completed in short term to be able to serve the investors.