A Growing Real Estate Market in Turkey
Housing market is one of the crucial points of a county’s economy. So, the Turkish housing market is growing rapidly day by day and it is affecting the Turkish economy in a positive way. There is an obvious increase in housing production in Turkey in recent years. With the urbanization process in Turkey there occurred some problems but these days renovation on these areas are going on and new and modern places to live is building up. With the help of the housing loans also help the people to buy their dream houses and give a chance them to buy their own houses.
Turkey Statistical Institute (TUIK) announced the data in the 4th quarter of 2015 (October-December) on “Building Revenue and Production Indices”. According to the statistics there is an obvious increase in housing production in Turkey. Accordingly, there is 4.5 percent increase in the production compared to the last year’s data. Also, housing production in the past years showed 1.1 percent increase compared to the previous year. This increase is the result of the investments and the rationale of the Turkish Republic. There are so many plans and regulations on real estate market which are supported by the state.
When we look at the changing process of Turkish economy, there is a big attack in Turkey in 20 years. There is an obvious increase in housing production in Turkey. There are so many economical and strategically problems Turkey in, but we have to admit the continuity of the Turkish economy and real estate market. The growing process cannot be denied. The growth in real estate market is the result of both native and foreign investor’s investments. The support of the state help the people have their own possession and help them have their dream houses.