New Home Sales Reach 4-Year Peak: Surging Demand and Market Dynamics
"According to data highlighted in the Kanal D report, sales of newly built residential properties have climbed to a 4-year high. Soaring rental prices, earthquake risks, and heavy renovation costs for pre-owned homes are steering buyers toward brand-new properties, while interest-free payment terms offered by developers further energize the market "
A notable shift is under way in homebuyer preferences as demand turns sharply back toward new apartments
. Key drivers include earthquake safety concerns, particularly in and around Istanbul, alongside rising maintenance and repair expenses associated with older homes
. Buyers aiming to avoid high rents are prioritizing turn-key, low-maintenance properties
. To manage existing inventory, construction companies are providing flexible, interest-free payment options that make new homes more accessible
. Market analysts anticipate that the strong sales momentum observed in the first half of the year will persist throughout the second half