Alarm Bells in the Housing Market: The Sale Period Has Increased to 70 Days! The long-awaited slowdown in the Turkish real estate market is now in front of us with clear figures. According to the latest data, the average selling time of houses has increased to 70 days. This level is quite close to the 78-day average recorded during the 2008 global crisis. This picture is an important warning signal for both investors and property owners. Why Has the Housing Sale Period Been Extended? CEESS Global expert analysis together with the information we have gained on the field shows that there are three main factors at the heart of the extension in the housing sales period: Rising interest rates Decrease in purchasing power High house prices that prolong the decision process Especially in metropolitan cities such as Istanbul, Ankara, Izmir, the excess housing stock causes buyers to enter into the psychology of “let's wait a little longer”. Important Warnings from Real Estate Professor Semih Sarialioğlu: “Investors are now being much more selective and cautious. We are seeing a significant recession, especially in the second-hand housing market. Prices remain stable in many regions, and even downward corrections have begun in some cities. This shows that the market is entering a natural balancing process.” With our 25 years of experience as CEESS Global, we analyze this process correctly on behalf of both our investors and property owners. It should not be forgotten that every crisis also contains new opportunities. The Construction Sector and its Impact on the Economy The real estate market is not just about buying and selling transactions. Extended sales periods; It discourages contractors to start the project, Extends the cash conversion period of second-hand residential owners, It slows down the overall economic mobility. In the domestic market analysis reports that we publish every month as CEESS Global, we continue to guide the investor with tables specific to the speed of home sales, buyer-seller balance and regional analysis. Going Parallel with the 2008 Crisis during the global crisis of 2008, the average selling time of houses in Turkey was up to 78 days. The current 70-day average is just below that period. In other words, the real estate market has approached a historical threshold again. “When access to credit becomes difficult, the period of conversion to cash becomes longer and the loss of confidence begins, housing investments become stationary. However, these periods are a new period full of bargaining opportunities for the conscious investor,” says Semih Sarialioğlu, Professor of Real Estate. How Do You Turn This Process to Advantage? List the house you want to sell with the correct price. “How much is it worth?” the answer to his question is given not only by portals, but by real field experts. With CEESS Global's “360 Degree Valuation” service, present your property at the most appropriate value to the market. Find a buyer without wasting time with innovative solutions such as the “TakasBank System” for second-hand housing.