The decline in mortgage interest rates has provided a significant boost to the real estate sector. Over the past month, the total value of newly issued housing loans reached TRY 3.5 billion, while home sales increased by 54% in November. Supported by this strong market momentum, branded residential developers are entering the new year with renewed confidence and record-breaking sales performance.
The decline in interest rates has boosted confidence in the real estate sector. Over the past month, TRY 3.5 billion worth of housing loans has been issued, while home sales increased by 54% in November. Branded residential developers are also entering the new year encouraged by these record-breaking results.
The real estate sector is entering the new year with renewed confidence. In particular, the recent decline in mortgage interest rates has stimulated housing sales. According to the latest statistics released by the Turkish Statistical Institute (TurkStat), home sales exceeded 138,000 units in November, representing a 54.4% increase compared to the same month of the previous year.
TRY 3.5 Billion in Housing Loans Issued in One Month
The nearly 5% increase in mortgaged home sales during the first eleven months of the year, compared to the same period last year, further demonstrates the positive impact of lower interest rates on the sector. According to data from the Banking Regulation and Supervision Agency (BRSA), following the interest rate cuts introduced by the Central Bank and commercial banks, a total of TRY 3.497 billion in housing loans was issued between 11 November and 13 December.
Consumer Confidence in Housing Reaches an Eight-Month High
Another indicator of growing confidence in the real estate market came from consumer sentiment. According to data published by TurkStat, the index measuring consumers’ willingness to invest in housing over the next 12 months rose to 7.7, reaching its highest level in the past eight months.
