Decrease in demand was associated with several causes. Many investors have postponed carrying out of transactions in November, when the elections will be held in the country. This seriously affected the market. According to the Statistical Agency of Turkey (TUIK), the number of real estate sales in September fell immediately by 20.1% year on year.
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In addition, a great influence on potential buyers made not only political but also economic uncertainty. Sharp fluctuations in exchange rates, as well as an increase in interest rates on loans did not add optimism to investors. But in November, formed by pent-up demand, buying activity in the market has increased dramatically. The most active are investors from the Persian Gulf.