In general, the construction sector oftentimes stagnates around the world. The main reason for this is an improvement or worsening in financial status. The construction sector in Turkey has regressed in recent years. Especially in the last three years, economic problems is one of the greatest contributors to this regression. Various materials such as iron, steel, furniture, concrete must be supplied for the construction work. Additionally, human labour is another cost. But all of these depend on financial power. Since the majority of the materials are imported, the costs are calculated in dollars. Due to increases in the dollar exchange rate in the last 3 years, prices for all imported goods have increased. Construction sector which expanded rapidly and which was the most vivid sector of Turkey almost stopped in the recent period due to increased dollar rates. In fact, such stagnation in the construction sector was beneficial for individuals with low purchasing power. For example, individuals who saved small amounts since 2010 have reached approximately 250,000TL in 2017. But it was challenging to find a good apartment for that year. But now, it is possible to buy a good apartment with this money. Price regression in the property for sale in Turkey is advantageous for individuals who save little.
Will the price drop in the real-estate sector continue?
The price drop in any sector will not be permanent. When prices drop to a certain level, they will stay there for a while. After the market pumps a new entity in the sector, prices will start to increase again. Stagnation in the real-estate sector in Turkey continues approximately for 3 years. While some experts claim that stagnation and price drops will continue in the next 3 years, others believe that the prices will increase by the end of this year. So, it is important to consider and assess each view. If you have existing money, it is the right time to buy property for sale in Istanbul. But if you want to a little longer, you can take the risk and continue waiting.
In recent years, new constructions started in the metropolitan municipalities with the influence of urban transformation. In fact, this stagnation will not continue forever. In the end, no matter how much the exchange rate increases, property and other real-estate fields are the basic needs of humans. And it is possible to postpone or ignore these needs. Therefore, the construction sector will sustain even though the prices are high. In this sense, you can assess timing based on your preferences. But you need to remember to insist on buying from a highly reputable firm.
Trustworthy real-estate agencies in Turkey
All the negative situations that we have mentioned above led to the number of ill-intentional so-called real-estate agents and agencies to increase. An increasing number of real-estate swindlers news led individuals who want to buy an apartment, store, land or parcel to experience anxiety. But you if you plan to buy property for sale in Turkey and if you want to avoid these negative events, you need to work with a trustworthy and reputable real-estate firm. Remember to be careful not to lose your savings and to buy somewhere you want. You can visit our website https://realtygroup.com.tr/ for more information.