As of 2024, housing prices are expected to settle on a ground closer to inflation

Endeksa Co-Founder and General Manager Görkem Öğüt shared his 2024 expectations regarding the housing market for sale in a written statement.

Referring to the high increase in housing prices in recent years, Öğüt said, "During this period, the future value estimates that Endeksa has objectively presented using artificial intelligence and big data analysis methods have helped investors as an important tool in determining their direction."

Noting that there have been no higher-than-expected price increases in the housing market since August, Öğüt made the following assessments:

"The upward trend continues, but it is observed to be moving at a more stable level. The average housing price in Turkey is currently just over 3 million TL. As of 2024, prices are expected to settle on a ground closer to inflation. If the slowing rate of increase in housing prices continues, real estate may cease to be a high-profit investment vehicle along with real price declines."

"HOUSING CAMPAIGN EXPECTATION INCREASES SALES"

Görkem Öğüt stated that some campaigns for housing sales are expected to be launched in 2024, adding, "These campaigns promise to pull housing interest rates below 2 percent and offer 15-year payment plans. If the regulations are implemented, it is possible to see significant activity, especially in first-hand housing sales. Furthermore, investor hesitation and credit conditions are rapidly increasing housing stock. This will ensure that supply and demand meet in a healthier way in 2024."

News Source: 12punto