What is the Demand for Beşiktaş Residence Flats for Sale?

According to August 2023 Endeksa data, house prices increased by 110% across Turkey compared to the same period last year.
The same rate was 92% in Istanbul and 62% in the Beşiktaş region.
The fact that housing prices across Beşiktaş have increased by 62% in the last year (dollar 46%, gold 63%) shows that demand is not strong.
When we consider residential flats, there is no reason to demand a strong demand, similarly.
When we look at the reasons for those who prefer residence flats in the current environment, we see that they are built in accordance with earthquake regulations and security.
Considering the difficulty and cost of accessing credit, as well as the contraction in the economy, people do not buy residences unless there are strong reasons.
However, considering the expectation that the exchange rate will continue to increase, I do not think that residence prices will decrease at all.
As a result, we are experiencing a similar stagflation in the economy in residence apartments. Demand is low but prices are not falling.