Factors that strongly affect the value of Turkish real estate
Last Updated: 2023-07-27Factors that strongly affect the value of Turkish real estate
The solid Turkish economy ensures the almost complete stability of the value of various properties over time, until the validity of the famous saying (real estate is Ibn Bar) in Turkey was confirmed!
Despite the relatively stable value of real estate ... We cannot neglect a set of factors that strongly affect the general value of real estate in Turkey. Where these factors determine the following value, the value of the
property (price), according to objective and studied bases, through which the value of different properties varies among themselves.
So what are the factors that strongly affect the value of Turkish real estate?
The type of property
is indisputable, that the price of a single house differs from the price of an apartment, and from the price of a vacant land, villa or commercial shop, hotel apartment, farm ...
The extent of the readiness of the property
The property is also under construction and differs in its price from the ready-made property, so that the price of the property increases steadily as it goes a long way on the road to its completion and completion, and there are additional factors that play a role in raising the value of the property, such as the services provided by the supervising company, for example, the apartment located in a residential complex that guarantees several services, such as paying bills, cleaning, protection, etc.
The location of the property and its view
The more you head towards the center of one of the important Turkish cities or states, which is considered a torch for various life activities, the higher the value of the property and the greater its importance, and reflect the situation.. so that the value of the property decreases towards the suburbs, and the outskirts of cities.
Also, the most beautiful view is what increases the luxury and sophistication of the property ... Thus, it raises its value, and Turkey is full of unique and very good and splendid views, and it is an important and greatly influential feature, someone may want a property overlooking the Bosphorus Bridge directly! And he pays a lot of money for it! .
The area of the property
There is a belief that some real estate experts are sure of, saying that the larger the area of the property, the lower the price per square meter in it. Generally, the value of the property
in Turkey varies according to its type, and of course the area of the larger property, compared to a property of the same type, will inevitably be the highest value ...
And the properties with little space, less value ...
The interior and exterior finishes of the property
include under this item, everything related to the exterior designs, the shape of the design, the colors, the quality of the materials used, the extent of development and modernity of the techniques used in construction, the use or non-use of techniques against natural disasters such as earthquakes, and protection from them ... The same is true for interior finishes. Designs and interiors, furnishings, the degree and quality of the furniture used, the interior cladding of the property, marble, bathroom sets, wood, the quality of paint and tiles ... And so on.
Property Status
It is considered an essential factor in the differentiation between the values of different properties, the property may be used and heavily consumed, which reflects negatively on its value, and the unused and completely new properties (not yet used), are the best of their kind.
These were the most important determining factors for the price of the property, whatever it was in Turkey, and these factors are approved by all real estate companies, and workers in the field, during negotiation or guessing the price of a particular property.
When determining the price for a particular property, all the previous items must be given an equal amount of importance, and think objectively and transparently, to come up with a real price suitable for the value, and fair to it, taking into account special cases or different exceptions.
Editorial Mersat Real Estate Team©
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