House Prices in Turkey 2022-2023
Last Updated: 2023-07-27House Prices in Turkey 2022 - 2023
One of the common questions that are asked about the real estate sector in Turkey is about (house prices in Turkey). This is the first thing that will come to your mind about real estate ownership in Turkey, which prompted the editorial team at Mersa Real Estate to organize for you the next report that will discuss in detail the most important key information on this topic.
Are house prices in Turkey high?
Real estate prices in Turkey in general are recording a significant and noticeable increase and growth, and this has emerged for several years and due to many reasons, the most important of which are:
- The many facilities that the Turkish government is working to provide on an ongoing basis.
- The desire to obtain Turkish citizenship, which prompted construction companies to build projects that match the conditions for obtaining it.
- Tax reduction and exemption in some cases.
- The strong and modern infrastructure in Turkey and the efforts of the Turkish government to develop and improve it permanently.
- The high population density in the Turkish state.
- Tourist seasons and millions of tourists visit Turkey from different countries of the world.
- It contains a lot of entertainment centers and tourist attractions.
- It is possible to buy an apartment with a strategic location easily.
- You can buy an apartment in Turkey with a sea view or green spaces.
- The great demand for buying and renting real estate in Turkey.
- Low real estate prices in Turkey compared to real estate prices in European or American countries.
-Diversity of the real estate sector in Turkey and allowing investors to choose what suits them without any limits or restrictions.
- Ownership of real estate in Turkey is forever, that is, there are no specific years in which the foreigner's ownership of real estate ends, as is the case in the European Union countries that set specific years, which is 99 years.
-Real estate options in Turkey suit all tastes and budgets.
- Turkey has a lot of important infrastructure projects such as airports / Istanbul Water Canal / bridges / highways / tunnels.
Is it difficult for people with low budgets to own real estate with the rise in house prices in Turkey?
Certainly not, because with this rise, real estate prices in Turkey remain low compared to other countries, in addition to many other options that allow the buyer to own property in Turkey in proportion to his financial budget, for example: if the buyer does not have enough balance to pay the value of the property in cash, he can buy in installments, and according to the system imposed by the construction companies, a down payment of 35% of the total property value is paid, and the remaining payments are to be paid in stages and installments, to be agreed upon specific dates that must be adhered to.
Effects on real estate prices in Turkey:
We have many factors that have a direct impact on real estate prices in Turkey, which must be adhered to when searching for properties for sale in Turkey, and through the following paragraph we review them in full:
The city in which the property is located:
The state in which the property is located plays the main factor in determining its value. The prices of real estate in Istanbul differ greatly from the prices in Antalya, the capital Ankara, or the industrial city of Bursa, so you should look at each of them separately and study the real estate market it every city.
Real estate area:
Certainly, the prices of houses in Turkey with a large area are not the same as the small ones. The larger the area, the higher the prices, and this is what prompted investors in general to look for real estate with a small area, where it is easy to sell and rent and the price is suitable for their budgets.
The location of the property in the city:
- Is the property located near the tourist attractions?
- Are there important projects near it, such as infrastructure projects?
- Is there public transportation near the project?
- Are there schools, universities, hospitals and health centers near the property?
(You have to bear in mind that the more distinguished the location, the higher the price, and the property near the city center is more expensive than the properties in the suburbs and countryside).
-The specifications of the interior of the apartment also play a prominent role in determining the value of the property. Is it a modern architectural style or an old classic? Is the property old construction or new? Modern real estate is more expensive than old real estate, due to the increased demand for it.
- Among the factors that determine the price of homes in Turkey is the view. Does it overlook the sea or the green spaces? These views contribute to the high prices of houses in Turkey and differ from the normal views or those on the city streets.
How do you find cheap house in Turkey?
Among what real estate investors are looking for in Turkey is if there is a possibility to find cheap apartments for sale in light of this great urban renaissance taking place in the country and the modernity that included its various aspects.
In fact, yes, you can certainly find cheap homes for sale in Turkey within a certain plan. Here are the most prominent details about it through the following paragraph:
- Heading towards rural or remote areas far from the city center. As we mentioned above, the more we head towards the city center, the prices become somewhat high, and this is not suitable for people with low budgets.
- Staying away from strategic locations close to development projects, as these prices are constantly rising.
- Not to choose to buy an apartment in Turkey near the public transportation network or the Metrobus line.
- Not looking for apartments for sale in Turkey in major central cities such as Istanbul or the capital, Ankara.
- Heading to remote cities that do not have the importance of Istanbul and other major provinces.
- Choosing to buy a house in Turkey far from major shopping centers and luxury malls.
Pros of cheap apartments in Turkey:
Do you think that the buyer can get many advantages by buying a cheap apartment in Turkey? Certainly, it is as follows:
- It is a great alternative to living in Turkey by renting apartments.
- Real estate prices do not remain the same but are constantly increasing.
- If its price is 75,000$ or more, you can apply for a real estate residency.
- It can be a good investment start for those who do not have enough capital to own a high-priced property.
- These areas do not lack public services such as schools, universities, hospitals, and others.
- You do not have to pay monthly revenues, as is required in luxury residential complexes, for the services that are provided.
- All urban transformation projects that are organized target remote areas.
- The Turkish government is working to provide it with public transportation lines to facilitate transportation to and from it.
Cons of cheap houses in Turkey:
Just as this type of real estate has certain advantages, there are also many negative aspects that must be pointed out through the following points:
- The services that are found in luxury areas or that are provided within high-end residential complexes are not available.
- If you aspire to invest in real estate, you will not get the investment return that you dream of.
- Despite the fact that house prices in Turkey are constantly rising, cheap real estate records small and limited rates.
- May be far from public transportation, luxury shopping malls, entertainment venues and tourist attractions.
- Cheap houses need a lot of repair and maintenance work and some modifications.
The future of real estate prices in Turkey:
Will real estate prices in Turkey rise or fall, or will they maintain their current status? According to what many people have stated, it will rise during the coming periods, especially in light of the harsh conditions experienced by the world at the political and economic levels, especially the Arab countries, which have witnessed in recent years many crises, wars and deteriorating conditions.
These are the reasons for which house prices in Turkey will rise in the future:
- High construction costs because raw materials are imported from outside Turkey.
- The fluctuation of the value of the Turkish lira against foreign currencies.
- The development and luxury witnessed by real estate projects in Turkey.
- High population density.
- Foreign influx to Turkey from various countries of the world for the purpose of tourism, study, receiving treatment and finding job opportunities.
- Since it is a tourist destination for many of the world's tourists without exception, it is the land of civilizations and modernity together.
- The decrease in the volume of properties available for sale compared to the volume of demand, meaning that the Turkish real estate market may lose the balance between the volume of sales and the volume of properties offered.
How to buy a house in Turkey at an affordable price?
If you want to buy a house in Turkey at a cheap or suitable price and with high quality specifications, you have to choose the right time. What you do not know is that there are certain times of the year when real estate prices become low, and in some periods they rise significantly, such as the tourist periods, that is, in summer and spring, in these two seasons, the movement of buying and selling rise due to the tourist demand from different countries of the world to it, but in the winter the prices drop somewhat due to the harsh and cold climate that limits the possibility of movement, buying and selling, so in this season you can buy the right property for you in terms of specifications at an acceptable price.
Where do I look for houses for sale in Turkey?
Now we have come to the most important question that is being asked by many who are coming to buy real estate in Turkey and investors, which is (the best place to buy houses in Turkey) which cities are better? What are its specifications?
Through the following paragraphs, you can see the most important and prominent cities of Turkey that are suitable for searching for homes for sale in them, because certainly your thinking is directly focused on the major cities with sovereignty and fame, and there are many cities and states that are absent from you, and therefore before choosing, you should see some information related to the most prominent of them in brief:
1 - Antalya:
- One of the most important tourism cities in Turkey.
- House prices are constantly increasing.
- It contains many tourist attractions in Turkey.
- A qualified environment for real estate investment.
- Its infrastructure is well developed.
- Overlooking the Mediterranean Sea.
- It has a temperate climate due to its location on the coast of the Mediterranean.
2 - Istanbul:
- The first city that many people choose to search for suitable properties for sale.
- One of the most crowded areas in terms of population.
- Real estate prices in it are considered cheap compared to other important cities around the world.
- It consists of 39 states with varying characteristics and specifications.
- It contains a lot of infrastructure projects.
3 - Bursa City:
- Real estate prices in Bursa are rising continuously and significantly.
- There are many job opportunities in it, since it is an industrial city that contains many factories and companies.
- An important tourist destination, as it contains the longest cable car in the world, as well as the great Uludag Mountain and many other gardens and parks.
4 - Trabzon:
- It is considered the first destination for many who wish to acquire distinguished properties.
- It contains a lot of green spaces and parks.
- Many tourists and Arabs turn out to it.
- Real estate prices are constantly increasing.
This was a detailed report on house prices in Turkey presented to you by Mersat Real Estate Company. If you have more inquiries, we advise you to contact our real estate consultant or visit our website because we are keen to answer most of your inquiries.
You can request a list of real estate offers available for sale and take advantage of the many discounts and privileges that we offer to our valued customers.
Related articles:
- Cheapest apartments for sale in Turkey 2020 - 2021
- Buying a house in Turkey 2020 - 2021
- Real estate residence permit in Turkey 2020-2021
- The journey to get Turkish real estate citizenship step by step
- Legal guide for foreigners in real estate ownership in Turkey
- What taxes are paid when buying an apartment in Turkey 2020 - 2021
- Are you looking for apartments for sale in Istanbul 2021 AD?
- Istanbul apartments prices 2020 – 2021
- Invest your money in Istanbul for these reasons
Residence in Turkey by buying a property |Cheap apartments for sale in Turkey | Real estate prices in Turkey | Buying a property in Turkey
Real estate Articles
Real estate News
