Important points affecting real estate prices
Last Updated: 2023-07-27
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Important points that affect the prices of apartments and real estate in Turkey
Looking at the real estate markets in Turkey, we will find today a clear prosperity, thanks to the solid Turkish economy, which played the role of guardian angel, contributing to maintaining stability in the field of real estate and maintaining the value and prices of real estate and apartments in Turkey.
Also, the nature of Turkey and its privileged location made it a dream for many foreign investors who are rushing to buy real estate in Turkey and obtain the facilities provided by it.
Despite the relative stability in the value of real estate and apartments, of course there are many important points that negatively or positively affect the price of apartments in Turkey, where differentiation between real estate according to objective and fixed bases with which the price of the property rises or falls.
If you are interested in real estate in Turkey, the article will provide you with a clear and sufficient picture of the most important factors and points that inevitably affect real estate and its price.. Stay with us.
Also, the nature of Turkey and its privileged location made it a dream for many foreign investors who are rushing to buy real estate in Turkey and obtain the facilities provided by it.
Despite the relative stability in the value of real estate and apartments, of course there are many important points that negatively or positively affect the price of apartments in Turkey, where differentiation between real estate according to objective and fixed bases with which the price of the property rises or falls.
If you are interested in real estate in Turkey, the article will provide you with a clear and sufficient picture of the most important factors and points that inevitably affect real estate and its price.. Stay with us.
Type of property to be purchased:
It is no secret to anyone that buying a house in Turkey alone is different from buying an apartment in Turkey within a residential complex and, of course, different from buying an office, villa or even a farm.. Each of the aforementioned types of real estate has a specific price and a different financial value.
The location of the property or apartment in Turkey:
The location of the property is one of the things that most affect the price. For example, real estate prices in the center of Gaziantep are lower than real estate prices in the popular neighborhoods in Istanbul, and if you ask yourself why? Of course, this stems from Istanbul's distinguished location and its being a vital, tourist and commercial center compared to Gaziantep, and there are many other examples.
Even within the city itself, real estate prices vary between regions. The famous central areas such as Fatih in Istanbul have real estate prices that are much higher than other areas far from the center, even if they are similar in size and design.
There is no doubt that Turkey's real estate close to service facilities will have a higher purchasing value than those in which you need transportation, which may be tiring for many.
Even within the city itself, real estate prices vary between regions. The famous central areas such as Fatih in Istanbul have real estate prices that are much higher than other areas far from the center, even if they are similar in size and design.
There is no doubt that Turkey's real estate close to service facilities will have a higher purchasing value than those in which you need transportation, which may be tiring for many.
The real estate space in Turkey:
The space for real estate is measured in square meters, and the price often increases according to the increase in the space. The buyer usually, when he wants to get an apartment in Istanbul, for example, searches for an apartment with a smaller area, so that the price decreases with it in proportion to his purchasing power.
Readiness of Turkey property for housing:
The price of an apartment in Turkey that is still on the scheme or under construction is very different from the price of a ready-to-move-in apartment, as the price rises exponentially with the steps that have been made to prepare the house to the fullest. The price also varies, as there are housing complexes in Turkey that, for example, pay bills and provide the required facilities and repairs.
View of the property in Turkey:
The view plays a significant role in choosing the property and its price, and this is what we notice, especially among celebrities and the rich. Of course, the price of Bosphorus apartments or apartments with a sea view will be much more than the price of an apartment overlooking an ordinary street crowded with cars, for example.
The property's proximity to service facilities, malls or shopping centers:
These matters are of great importance when choosing an apartment because this involves additional costs spent on transportation when the house is far from all service facilities. There is a big difference when you are able to buy all your needs from the malls near you and secure a suitable place for your children to play, for example, at the same time, and this raises the price of the apartment. Also, it is necessary to mention the importance of the presence of hospitals, schools and means of transportation nearby, which will contribute to raising the price of the property over time.
Repairs in the house and the condition of the property in Turkey:
When buying any property in Turkey, do not forget to examine it well and evaluate the repairs to be made to make it suitable for housing or real estate investment, because the price of the property may decrease in the event of many problems in the infrastructure and services, as well as if it is severely consumed. Although you can return the property to its natural state by about 80%, but let's face it, there is a limit to the money you can spend just for repairs.
The floor where the property is located in Turkey:
There are a lot of buyers prefer the upper floors within the residential complexes in Turkey because they provide a wonderful view and a distinctive view away from the noise of cars. We noticed a special interest in these apartments from the owners of capital and those interested in having fresh air and a refreshing atmosphere. But the upper apartments of Turkey are not everyone's favorite, and it is known that the value of the apartment decreases as the height increases.
Real estate finishing in Turkey:
Under this broad heading come all matters related to interior design and decoration, paint, colors, quality of materials used in construction, development and modernity of construction and design techniques, the use of anti-seismic and disaster protection means, as well as furniture, furnishings, wood, marble, tiles, etc. All this will contribute to raising or lowering the price.
Supply and demand for real estate in Turkey:
The real estate market is controlled by supply and demand. The greater the demand, the lower the supply, which contributes to raising prices, and on the contrary, the lower the demand, the prices will certainly decrease, and this highlights the importance of dealing with real estate consultants with extensive experience, as they are more aware of the appropriate buying and selling times.
Residential complexes in Turkey:
Many people tend to want to buy a property within a residential complex. Residential complexes in Istanbul come at the top of the list because of the security they provide with the spread of surveillance cameras, which brings comfort and peace of mind in addition to the presence of gyms, swimming pools and many more within the complex itself, so it looks like a small town by itself.
Thus, we have listed for you all the factors that will control the price of real estate in Turkey, and it is worth noting that these factors are approved by all real estate companies. Our turn is over, now it's your turn!
Thus, we have listed for you all the factors that will control the price of real estate in Turkey, and it is worth noting that these factors are approved by all real estate companies. Our turn is over, now it's your turn!
Edited by Mersat Real Estate Team©
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