Supply of New Housing Breaks One and a Half Decade Record [Video]

The supply of new housing has broken a decade and a half record, significantly restraining the rise in the price of new residential property, said an analysis by ingatlan.com.

According to their data, over 8,100 new apartments and houses were offered for sale in the country in mid-September, a level not seen in a decade and a half. The last time investors and real estate agents sold so many new-build properties was before the 2009 foreign currency crisis.

They stressed that not only the supply of new-build family houses has expanded significantly, but also the supply of residential apartments is at a one-and-a-half-year high.

In their analysis, they showed that the expansion of supply is holding back the rise in the price of new residential property, with new prices in the capital up 5 percent and second-hand prices up 10 percent, contributing to the almost 25 percent increase in demand for …