How Turkish Real Estate market Effected by Covid-19?
As all in the world Coronavirus (Covid-19) pandemic was affected the economy and real estate in Turkey. All sectors and primarily the real estate sector was affected by this situation.
How does Covid-19 Affect the Turkish Real Estate Market?
The first Covid-19 was seen in Turkey on 12 March. Turkey has taken the issue very seriously and taken very important precautions from the date of its first appearance in China and continued to work successfully.
However, Covid-19 effect the real estate sector in Turkey in a negative way as all other countries.
Halil Yildirim, the director of Basic Apartment real estate declared that the crisis in Turkey will be finished soon and this crisis is an opportunity for investors and homebuyers
Due to the Covid-19 virus, some contractors predict that they will reduce property prices by up to 20% with economic anxiety, and we think that this virus will lose its effect in the world in 3 months. After 3 months the real estate price will start increasing to the same level. Because of that Covid-19 Crysis can be an opportunity for the real estate buyer in Turkey.
Turkey, Covidien has stopped flights after the detection of the virus in many countries, respectively, and all international flights have been stopped from Turkey right now.
According to the Worldometers news, the spread of the virus in Turkey is very slow, and mortality in 0.9 per million on March 28. This number is very low according to many other countries. According to scientists, Covid-19 spread of virus slows down in hot weather, and this news makes it advantageous for Turkey