ERA Real Estate Turkey General Manager Özhan Atalay, who drawed the second half-year project of the real estate sector, stated that the industry is growing above the population of Turkey. Atalay pointed out that 1 million 340 thousand houses sold in the year of 2016 grew 2.5 times more than the population increase rate of Turkey, and that the figures in the researches belong to the licensed buildings are much higher.
ERA Real Estate Turkey General Manager, Özhan Atalay, said that the real estate sector in Turkey has grown by an average of 3.5 percent in the last 5 years and stated that the sales figure of 1 million 340 thousand is reached in 2016.
Atalay, says that among the main reasons for this increase, which corresponds to about 2.5 times the rate of population growth, is urban transformation and profitable buildings that have been destroyed and reconstructed in rented regions.
The length of the VAT discount period increases the acceleration
Atalay is indicating that the increase in the number of dwellings per plot in the real estate sector, formerly 3 + 1 100 square meters and over apartments in demand, while today it is the 60 square meters 1 room apartments see more demand.
Underlining that 2017 is a line parallel to past years, Atalay stated that the trend that seems to have paused in 2017 in the extension of the VAT discount period will accelerate again and catch up to 3 percent growth momentum.