Despite the pandemic conditions, The Real Estate sector, which managed to close 2020 with record achievements and new regulatory advantages, witnessed one last boom at the end of the year with interest rate discounts on mortgages. While new projects are expected to come off the shelf one by one, it is possible to say that 2021 will be the year of investment and expectations are high, considering the arrangements made.
New Trends, Rising Demands
The Real Estate World, which has made a very hopeful start to 2021, has gained momentum with the opening of new investment areas by housing project developers who have melted the stock of the year. In early 2020, many projects have been postponed and constructions have been put on hold, creating motivation for the implementation of the expected projects in the second half of the year, Among the trends related to the sector, the emergence of balcony, garden terraced houses and living spaces offering versatile socialization and entertainment opportunities also played a big role in bringing new projects to the actuality. With augmentation of numbers of the home office workers, the development of homes that offer an in-home workspace and communal cargo storage space those interested in e-commerce, started to be the proof that The Real Estate world, perceived as an industry from life itself, was the first option that came to mind when it came to investment.
Expected Price Increases in Real Estate
Although new concepts and notions are discussed, it is worth remembering that the most important point emphasized by industry representatives for 2021 is housing prices. Even the stocks have largely sold out with interest rates falling to record levels and payment campaigns, it is possible to predict that prices will increase when we consider the qualities of projects organized in line with changing expectations. While constructions affected by the cost increase are another item that will lead to an increase in house prices, real estate sales consultants, who said that price increases could not increase interest in sales last year will now be beginning from this year after the sectoral recession eased, say that the postponed hikes have been on hold for a longtime.
Expectations for Housing Sales to Foreigners Are High.
The sale of housing to foreigners, which increased by 2.4% compared to the same period of the previous year, points to a picture in which Istanbul was the sales leader and Iraq was the purchasing leader. When we look at the list in which Iraq is followed by Russia, we can see that housing sales to foreigners decreased due to the pandemic in January-November period, but a rapid recovery occurred that gave hope.
The Real Estate sector, which has been affected by the digital transformation process with the coronavirus, now uses digital platform so different travel tools such as video, drones and 360 virtual tours for promotion. In fact, we are in a period where land register can be obtained via the web without having to go to the land registry office. As a result, this promising new version of remote sales, which does not tire both the seller and the buyer, shows that real estate purchases will continue to accelerate with the digital transformation.