Since the beginning of this year, real estate prices in Turkey have begun to increase based on the gradual return to normal life, after Turkey was able to control the epidemic crisis and mitigate its impact by imposing precautionary measures and adhering to public safety laws. All of this opened its doors to tourists.
For more details on this topic, you can follow the following article, which will be the focus of his talk about the reasons that led to the rise in real estate prices and the most affected Turkish states.
The reasons that led to the rise in real estate prices in Turkey in 2021:
1 - As a result of the epidemiological crisis, construction work in new real estate projects in Turkey has stopped, and this has left a shortage in the amount of real estate offered for sale with the demand rate remaining almost the same, especially since Turkey has allowed real estate to be owned electronically, so many can buy real estate without personal attendance.
2 - There is also an increase in the number of these development projects in addition to what it owns, for many projects in Turkey that have acquired a global position, such as the new Istanbul Airport, which ranked first in the world, and the New Istanbul Canal, which will have a great impact on the real estate market and many others such as tunnels and expansion Highways.
3 - The population increase, as Turkey receives many foreigners, especially the Arab communities, due to Turkey's stability and development on the economic and political levels.
4 - The presence of many facilities in the movement process is one of the reasons that prompted many to this ownership, especially since there are guarantees that preserve the right of the buyer and make him away from falling victim to real estate fraud, such as the real estate appraisal document that accurately proves the price of the property.
5 - The continued desire of foreigners to obtain Turkish citizenship, which prompted many construction companies to construct projects that conform to the imposed conditions.
In this context, it is expected that Turkey will record an increase in the prices of its properties in the coming days, based on the urban transformation and urban expansion projects that Turkey is witnessing at present.
Real estate in Turkey has many advantages and a great advantages:
-Despite the rise that Turkey is witnessing in its prices, it remains much cheaper than others such as European and American countries and some Arab countries, and this comes in conjunction with its high quality and great modernity. In addition, real estate in Turkey is the best option for real estate investment, as its returns may exceed ten per cent annually.
- According to the American magazine The Times, real estate prices in Turkey are between eighty and ninety per cent cheaper than properties in Western Europe, and sixty to fifty per cent cheaper than those in Eastern Europe.
The most important factors that have the power to determine real estate prices in Turkey:
- Apart from the conditions affecting real estate prices in Turkey, some constants must be taken into account and have a significant impact in determining its price, most notably the city in which the property is located. The matter is whether the property is located in the city centre or on its outskirts.
The view that the property enjoys also plays a major role in determining the price of the property. When we talk about a sea view, this indicates a rise in its price.
What about the service facilities, is the property close to them? Are there health centers, educational institutions or shopping centers? Also, the proximity of transportation and its aftermath have a role in the price of the property.
What is the future of real estate prices in Turkey:
- In general, it is witnessing a rise, especially apartments, and it is expected to continue to rise due to the increase in demand around it, and according to the official authorities, this year has surpassed the previous year in many stages, and this is an indication of the success of a real estate investment step in Turkey, especially that the Turkish economy continues to Achieving the highest results In the second quarter of this year, it ranked second globally with a growth rate of 21.7 per cent, thus proving its dynamic and strength.
The residential apartments that are located within the coastal areas are the highest because they are preferred by the tourists and also because life in them is healthy and first-class, and this is what everyone is looking for in light of the Coronavirus, and this led to a threefold increase in prices in some areas.
It is worth noting that Turkey ranked first in the world, with apartments increasing by 32% in one year.
Related articles :
#deal_tr #real estate_turkey #real estate_investment
#Istanbul #buy_property #turkish_nationality