Homebuyers adopt wait-and-see approach as market cools
Demand for housing remains high but the market has entered a period of stagnation in terms of sales.
Industry representatives and real estate developers say three main factors are influencing homebuying decisions, with rising mortgage rates emerging as the most significant obstacle, according to daily Milliyet.
Home sales remained subdued in May, largely due to public holidays and other vacation periods. The summer months, traditionally a holiday season, are also expected to be relatively quiet for the sector. According to market participants, the slowdown in residential property sales can be attributed to three key factors.
Interest rates
