August 2024 Real Estate Newsletter

Hi all!

Here we are after a few difficult days of international financial markets, what a world!

Nevertheless, we are extremely proud that the esteemed business magazine Fast Company has named us one of Türkiye's top 100 startups for the second year in a row!

Let's dive in to explore what is happening around the globe!

Türkiye

• The inflation rate slowed down to a 9-month low, indicating the effect of high interest rates.

• At the same time, the economic growth is expected to cool down.

USA

• After a terrible day for the stock markets, there are early signs of quick recovery.

• However, the threat of recession continues.

UK

• In a crucial move, the Bank of England lowered interest rates by 5% for the first time in 4.5 years.

• As a consequence, a lower cost of bargaining could fuel the increase in house prices.

Europe

• European markets go hand in hand in gains with the Wall Street, the gains go slower.

• As the demand stagnates, the European construction sector struggles to find its way.

China

• China rejects a massive bailout package for the construction sector, proposed by the IMF.

• Slow economic growth caused by the decreasing demand gives the Chinese authorities a hard time.

See you next time in September, as we will be entering the final month of Q3!