Considering the construction sector confidence index, new construction license data and construction cost index announced by TUIK, there will be serious increases in housing prices when the stocks are finished.
New construction licenses fall by almost half in the first 9 months of 2018. Construction costs increased compared to the previous year.
In the first nine months of 2018, the number of flats issued by the municipalities for the construction of new houses decreased by 58.6 percent compared to the previous year. And the construction cost index increased by 33.36 percent in August 2018 compared to the same month of the previous year.
Housing Prices will Increase
In this case, housing prices are projected to increase significantly when the stocks are finished. Banks’ interest rates on mortgage loans started to decline. Estimates of experts suggest that housing loan interest rates will decline further in the upcoming period. But this time, housing prices are expected to increase.