Real estate prices in Turkey is a topic that concerns and interests everyone who is interested in researching the Turkish real estate market and seeing its latest news.
The real estate market in Turkey is one of the most crowded real estate markets in the world, and this certainly has a significant impact on real estate prices, and given the importance of this topic for many people and investors, we decided to dedicate this article to be comprehensive and detailed about it.
Not only in Turkey, but in various countries of the world, real estate prices may rise and fall at other times, but in general, real estate prices cannot be fixed on one case for a long time, as they fluctuate constantly.
If you are wondering about real estate prices in Turkey for this year, they are taking an upward curve and rising by significant degrees, or we can say that they are jumping rapidly. According to many specialists, it is expected to record an increase during the current year by up to 60%.
In fact, it is a set of reasons, and the matter cannot be traced back to one or two reasons only. Through the following paragraph, we review together the most important of them.
1 - The high population density that Turkey is witnessing has led to an increase in the demand for real estate in Turkey, where the population has exceeded 84 million people.
2 - The construction companies have taken advantage of the epidemic crisis (Corona) and worked to finish the construction of their residential and investment projects, and accordingly, ready-made properties are more expensive than those under construction.
3 - The many facilities provided by the Turkish government to foreigners contributed to the increase in demand, especially as it allowed them to buy real estate online.
4 - Construction companies are keen to build their projects in accordance with international standards and international specifications (earthquake resistant - sound and heat insulation).
5- Change in the value of the Turkish lira against foreign currencies.
6 - Continuation of the Turkish citizenship program through real estate investment (in exchange for a minimum price of two hundred and fifty thousand US dollars).
7 - Turkey is one of the most important tourist destinations in the world and ranked fourth in the world in terms of the number of tourists visiting it, after it was ranked sixth.
*Important note: It ranked fourth after hosting 30 million visitors during the last tourist season.
The main reason for the high prices of apartments and real estate in Turkey is the population density and the increased demand for its purchase, but now we must point out the reasons that push foreigners and investors to choose Turkey over other countries in the world.
In the beginning, many people are looking for a developed and stable environment in which to reside, and Turkey, with its economic development and security stability, has been a safe haven for many, especially the residents of the Arab world, after their country witnessed many crises and wars.
A large group of foreigners want to obtain Turkish citizenship and others find it suitable for real estate investment, as well as students from different countries of the world to enroll in their universities, and there are also those who come to it for treatment after the medical renaissance it witnessed.
Among the main reasons that encourage real estate ownership in Turkey are cheap real estate prices compared to prices in European countries or some Arab countries
Here is a set of factors and influences that impose their authority on the value of real estate in Turkey and you must take them into consideration when you want to own real estate so that you know the price of the property accurately and not be a victim of real estate fraud or fraud as a result of your lack of experience or knowledge.
The location is one of the most important factors that contribute to knowing the real property value. The more distinguished it is, the higher its price, you might wonder about the specifications of the distinguished location?
To be in the city center.
To enjoy a view of the sea.
Or a view of the greenery.
Close to schools - universities - public transportation.
Close to entertainment attractions and venues.
Close to malls.
Proximity to infrastructure projects.
Focus on the details of the property well, what about its area? Is it wide? small? medium? How many rooms does the property have? How many balconies? its decorations? Quality finishes? Texture quality?
Is the property old construction or is it new? New real estate is more expensive than old real estate and its prices are constantly increasing.
On which floor is the property located? Is it on the first floors or on the last floors?
Residential real estate prices differ from commercial real estate to tourist real estate, so you should know the details of each of them before you start your search.
It should be noted that each of the mentioned types of real estate consists of several types and options, for example, if you want to buy an apartment, you will find (residential complex apartments - independent apartments - penthouses - duplexes - triplex apartments - studio apartments - villas).
Is this the right time to buy real estate in Turkey? Of course, especially if it is intended for real estate investment, where you can obtain abundant profits and high returns, whether you want to rent it or resell it.
All you need to know about real estate prices in Turkey is presented to you in this article. We hope that you got answers to your inquiries. If you have any question or something that is not clear, our real estate consultant is waiting for you to provide you with the help you need.