How does the decline in real estate prices in Turkey affect the demand and the real estate market

Has the demand for real estate investments increased when the value of the Turkish lira fell?

how-does-the-decline-in-real-estate-prices-in-turkey-affect-the-demand-and-the-real-estate-market
12-10-2021
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Last update 25-12-2022
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Many people wish to live in advanced and developed countries, such as living in Turkey and residing there permanently, as Turkey is considered one of the most beautiful parts of the world and has distinctive geographical elements that make it one of the most critical countries in the world, as it provides all technical and health services to all its residents.

In addition, its enjoyment of solid infrastructure and its supervision of essential waterways made it a destination for all Arabs and foreigners, either for residence and residence, investment and work, or tourism and recreation.

Most foreigners, and Arabs in particular, tended to settle and live in Turkey and even own property in it and search for real estate for sale in Turkey and buy real estate at low prices, especially after some decrees and laws were issued; some articles were amended in the real estate ownership law, whereby the treatment became reciprocal, and foreigners were allowed to own and buy prepared apartments For sale in Turkey.

 

Turkish real estate market

The Turkish real estate market is considered one of the most important and leading global markets in investment real estate. This great importance is due to the excellent facilities the Turkish state provides at the investment level, as Turkey treats foreigners like its citizens. This is the most important characteristic that distinguished Turkey and made it a leader in this field.

 

Factors that may contribute to lower real estate prices in Turkey

When talking about the reasons for the decline in real estate prices in Turkey, we must mention two main reasons for this decline. The first reason is the reason that is directly related to the property, as each property has its price, and the value of the property is determined by significant factors related to the location of the property, its area, and its proximity to the center. For example, does the city belong to a residential complex or an independent building? On this floor are the direction and the view, and many factors contribute to determining the property's price.

The second reason is the general reason for counting seasons on these properties. It is sure that Turkey, in recent periods, has suffered from a general stagnation and stagnation that affected all countries of the world, such as the Corona pandemic, which led to a general closure, and this would have affected the investment and real estate market In Turkey, in addition to the value of the Turkish lira, which ranges between high and low, this also affects the economy in general and the real estate market in particular, as real estate prices will be in constant flux.

 

Great demand in light of the declining property value in Turkey

Many questions may arise, why is the price of real estate in Turkey low? Turkey is a developed and developed country that has a prestigious position and an excellent international rating. Quite simply, when we compare Turkey with the rest of the neighboring countries, especially the European side, we will see a massive disparity in terms of purchasing value between those countries, for example, the price of a modest property with a medium area on the outskirts of London may equal the price of two apartments in one of the most important cities of Turkey! Here, it becomes clear why the Turkish real estate market is witnessing such great demand, and the majority is always for foreigners. This is because it became clear to us that the real estate market in Turkey is low compared to the real estate market in Europe and America.

Where in one year, several countries topped the most significant percentage of real estate purchases and demand for the real estate market because the Turkish real estate market, in the eyes of foreigners, is a market with distinctive low and very competitive prices; among these countries that had the largest share of real estate in Turkey, are China, Russia, and many others from other countries.

The other reason, which is no less important than the previous oned currency, is the. The foreigner who comes from his homeland to Turkey to buy real estate or invest often owns a currency different from the official currency of Turkey; most likely, he may have the US dollar as it is the most traded currency among world traders, which leads to a price discrepancy, and this is since the US dollar is more powerful and financially valuable than the Turkish lira, where the foreigner finds that this price is low compared to his mother country, not to mention taking advantage of the opportunity that some brokers and traders are waiting for if the value of the Turkish lira deteriorates, the real estate market will witness a greater demand and certainly will increase the rate of demand and purchase significantly, especially by foreigners and capital.

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