Investment expert tells when real estate sales will start to grow

Real estate investment expert Mustafa Hakan Ozelmacıklı named the time when housing sales, which have recently declined, will begin to grow again. He cited rising global inflation and rising interest rates as reasons for the decline in sales. Mustafa Hakan Ozelmacıklı said home sales will rise again in the second quarter of 2024 due to the expectation of lower inflation and lower interest rates on deposits.

"We believe that mobility in home sales may begin after local elections and as inflation begins to decline. Due to this, citizens will prefer alternative investment instruments and housing will once again become the favorite investment instrument of citizens. In addition, campaigns for first-time homebuyers will also be effective in boosting sales," he said.

An estimated 2.8 million properties will be sold in Turkey in 2023.