Turkey’s real estate market resistant to US dollar rate
Baku, Azerbaijan, Apr.17
By Rufiz Hafizoglu - Trend:
The increase of the exchange rate of the US dollar in Turkey didn't affect the sale of real estate in the country, Turkey's Real Estate Investment Fund told Trend.
The organization said that increase is observed in the exchange rate of dollar in Turkey in recent weeks.
The increase in the exchange rate of the dollar slightly affected private companies, which are engaged in the sale of real estate, however, it didn't affect the real estate market, according to the organization.
Currently, the minimum price of one square meter of real estate in Istanbul's center is 1,700 Turkish liras, compared to 1,300 liras in 2014.
The official exchange rate on April 17 is 2.7018 TRY/USD.
It was earlier reported that Turkish lira depreciated by 15 percent against the US dollar in 2015.
Turkish Statistical Institute said that 115,786 real estate purchases were madein the country in 2014, which is 13.2 percent more than in 2013.
Istanbul was in the lead for the sale of real estate in Turkey with 18.1 percent during the reporting period, according to the Statistical Institute.
Istanbul was followed by Ankara with 6.1 percent.
It was earlier reported that 37.3 percent of the real estate was sold on credit in Turkey in 2014 and 1,857 properties were sold to foreigners during the reporting period.
Edited by CN
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