How Turkish Real Estate market Effected by Covid-19?
How has Covid-19 affected the Turkish property market?
As all in the world, the Coronavirus (COVID-19) pandemic has affected the economy and real estate in Turkey. All sectors, primarily the real estate sector, are 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, taken essential precautions from its first appearance in China, and continued to work successfully.
However, Covid-19 affects Turkey's real estate sector negatively, as in all other countries.
Halil Yildirim, the director of Basic Apartment Real Estate, declared that the crisis in Turkey will be finished soon and 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% due to economic anxiety, and we think that this virus will lose its effect in the world in 3 months. After three months, the real estate price will increase to the same level. Because of that, Covid-19 Crysis can be an opportunity for real estate buyers in Turkey.
Turkey, Covidien has stopped flights after detecting the virus in many countries, and all international flights have been blocked from Turkey right now.
According to the Worldometers news, the virus spread in Turkey is prolonged, and mortality is 0.9 per million on March 28. This number is deficient, according to many other countries. According to scientists, the COVID-19 spread of the virus slows down in hot weather, and this news makes it advantageous for Turkey.
