Ahmet Büyükduman

Developers are waiting to see and analyze the direction loan rates will take in 2025 before launching new projects in the housing market, which has experienced a plunge in sales for months.

Currently, both consumer and construction companies are in the wait-and-see mode in an environment of high inflation and high interest rates.

New data suggest that the outlook in the housing market may be changing in favor of tenants and potential homebuyers as the pace of rise in rents and home prices slows down across Türkiye, including the country's three largest cities.

In some provinces, rents reversed course and started declining, even though the drop is rather limited.

The potential demand for homes cannot be unleashed due to the combination of several factors, including elevated residential property prices and high loan costs, according to representatives from the real estate market.

The desire for a more detached life after the pandemic has led to an increase in the number of rural and field sales. As the remote working model became permanent in many sectors, demand has gradually increased.

It is obvious that the housing industry is facing problems. The unmeasured increases in estate taxes in some places have already added to these problems.