The future of real estate in Turkey:
Last Updated: 2023-07-27The future of Turkish real estate
The future is one of the most important aspects of interest to a real estate investor, as he usually seeks the help of experienced people or real estate agents in order to obtain a comprehensive study on the real estate aspect. In this regard, real estate investors are looking for the safest and most exclusive environments.
The Turkish state is one of the most important countries in the world suitable for real estate ownership due to its motivating components and elements. If you want to get the most important information related to the future of real estate in Turkey, you should accompany us through the following article, which will include the most prominent details of this topic.
What is the future of real estate in Turkey?
Real estate in Turkey during the year 2022 witnessed an important and unprecedented qualitative leap, and according to many real estate experts, it was not expected either. Despite that, the demand for it was great, especially after the health, economic and social conditions stabilized. If you look at the studies and reports that were presented regarding real estate prices in Turkey, it turns out that before this period, real estate prices in Turkey were very reasonable and appropriate if compared with real estate prices in other countries of the world.
What are the reasons that led to the rise in real estate prices in Turkey?
Before we begin to list the reasons that led to the rise in real estate prices in Turkey, we must point out that this news is in the interest of investors and is an opportunity to gain more profits and remunerative returns.
1 - One of the most important reasons that led to the rise in real estate prices in Turkey is the increase in demand for it after the health conditions improved with the introduction of anti-Coronavirus vaccines and with the return of life to its usual normal.
2- The percentage of offers and discounts offered by construction companies, which increased significantly during the height of the epidemic, and whose aim was to attract the largest possible number of investors, decreased.
3 - Many real estate projects have stopped working, with work to be resumed at a later time, which created a gap between the volume of demand and supply for real estate, especially with Turkey providing the possibility of remote ownership of foreigners.
4 - With the increase in the desire of many foreigners to obtain Turkish citizenship through real estate ownership, many established companies have directed towards the construction of properties that match the characteristics of obtaining them.
5 - The huge development projects owned by Turkey had a reflection on the real estate sector, which led to a rise in real estate prices, especially those located near it, most notably the new Istanbul Airport, the new Istanbul Water Canal, metro lines, Basaksehir Medical City and others. In this context, we must point out that real estate prices in the world in general have risen significantly, and thus the real estate sector in Turkey has been significantly affected.
Will real estate prices continue to rise in Turkey in 2023?
According to many real estate experts and specialists, real estate prices in Turkey will continue to rise in the coming days for many reasons, most notably:
- The real estate market in Turkey is witnessing a large and clear movement between buying and selling, and the reason behind this is the many options available to investors, which are not limited to specific options.
- Construction companies compete among themselves to present integrated projects with high-end and luxurious specifications and in conformity with international specifications, which made it an attractive point for a large number of foreigners.
- The dependence of many money owners on real estate investment as it is the safest investment ever, especially with Turkey proving that it is a fertile environment for such a project based on its features and features.
- The tourist influx also contributes significantly to this matter, especially since it is Turkish plans to receive about 45 million tourists next year.
- Turkey does not hesitate to construct many huge and distinctive development projects that support the strength of the infrastructure, which is divided between hospitals, universities and new transportation lines.
- Continuous foreign desires to obtain Turkish citizenship by buying real estate in Turkey, and therefore they are looking for a specific option (the price of the property should be a minimum of two hundred and fifty thousand US dollars + adherence to not selling it before the lapse of 3 years).
Is this the best time to buy real estate in Turkey?
The present time is considered a golden opportunity to buy real estate in Turkey, especially if the purpose of it is real estate investment. As according to the Turkish contractors, real estate prices in Turkey will rise during the coming period by up to sixty percent, due to the high prices of these raw building materials, in addition to the fluctuation of the exchange rate of the Turkish lira against foreign currencies.
If you are looking for ideal and exemplary real estate opportunities, do not delay heading towards the real estate market in Turkey to seize the opportunity. If the fields are wide today, they may not be like this tomorrow.
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