Experts expect a rise in Turkish real estate prices
Turkey is one of the active and interesting real estate destinations in the world, as it has witnessed a remarkable rise in real estate prices over recent years, and in light of this rapid growth, many investors and potential buyers are wondering about the expectations of real estate experts regarding the future of the Turkish real estate market and therefore, the editorial team was keen to highlight these expectations and the factors that affect real estate prices in the lands of the Republic of Turkey, all you have to do is continue reading to know more details and information.
Table of Contents
What factors affect the real estate market in Turkey?
- Increased demand for real estate by local residents and immigrants can lead to an increase in prices and stimulate activity in the real estate market.
- Turkey attracts many foreign investors due to attractive investment opportunities in real estate, and the influx of foreign capital can affect real estate prices and market activity.
- Government decisions and measures related to real estate, such as legislation, tax procedures and credit facilities, can greatly affect the real estate market.
- The state of the general economy in Turkey plays an important role in determining the health of the real estate market and economic growth, unemployment rates, income levels and inflation can affect people's ability to buy real estate and stimulate or decline demand.
- The geographical location of the property and the surrounding urban development can affect its value and attractiveness and the proximity of the property to transportation, services and facilities can increase the attractiveness of the property.
- The balance of real estate supply and demand affects real estate prices and if supply exceeds demand, the price of real estate may fall, while if demand exceeds supply, the price of real estate may increase.
Comparison of Turkish real estate prices with European real estate
- Turkish real estate prices in 2023 are much cheaper compared to real estate prices in European countries, especially in major countries such as Germany and the price of real estate in Turkey provides huge and superior investment opportunities, including obtaining Turkish citizenship or real estate residence, on the other hand, in European countries, it is not possible to obtain citizenship or residence by purchasing real estate at a reasonable price.
- In addition to the additional costs and facilities, the price of real estate in Turkey is distinguished from real estate in Europe by significantly lower real estate taxes, as taxes in Europe are very expensive while in Turkey they are much lower.
- It is very difficult to buy a property at an affordable price in tourist areas or tourist countries in Europe, due to the exaggerated rise in real estate prices in those European tourist cities and on the contrary, it is possible to buy a property in Istanbul, which is one of the most powerful tourism cities in the world, at an affordable price that suits a large class of investors.
- The demand for buying a property in Europe decreases dramatically compared to Turkey, which leads to an increase in real estate prices in Turkey by a higher percentage, and this means an increase in the value of investment and growth in European countries, capital gains cannot be achieved through real estate to the same extent.
- In general, the prices of apartments in Turkey are suitable for investors with all budgets, while the prices of apartments in European countries are limited to a specific category of investors.
Are real estate prices in Turkey affected by the seasons?
Seasons of the year directly affect real estate prices in Turkey, and official statistics indicate that the cheapest apartment prices in Turkey can be found during the winter season.
Over the winter seasons, the demand for buying and renting real estate in Turkey decreases, which makes apartments available at more competitive prices, and this reflects the different situation in the summer and spring seasons, when these seasons witness great tourist activity, and many ask during this period about the prices of apartments in Turkey.
Thus, if you are looking for a cheap property in Turkey, the winter season provides a good opportunity to find apartments at low prices and this period can be suitable for investors seeking to get good deals and achieve a meaningful investment return, however it must be noted that prices may vary from one region to another in Turkey, and are also affected by general economic and market factors and therefore, it is important that you research and use local real estate companies to guide you and help you find the right property at the best price in Turkey.
Will Turkish real estate prices rise?
Based on numbers and statistics, real estate prices in Turkey are expected to continue to rise in 2024 and with the passage of the centenary since the founding of the Turkish state and the continuous increase in the number of tourists coming to Turkey, the country is witnessing a gradual increase in real estate prices since the beginning of 2023, and this rise is expected to continue in 2024.
In addition, with the completion of the Turkish Century projects such as the new Istanbul Airport, Istanbul Canal and the development of the New Turkey region, the year 2024 is likely to witness a significant rise in real estate prices in Turkey and these mega projects will enhance the infrastructure and boost the economic growth in the country, which will boost the demand for real estate and lead to an increase in its prices in the near future.
Common questions
What are the expectations for real estate prices in Turkey?
Real estate prices in Turkey are expected to continue to rise in the near and medium future based on expert analyzes and past trends.
What are the factors affecting the expectations of a rise in real estate prices in Turkey?
Influencing factors include the growing demand for real estate, sustainable economic growth, legislative developments and government investments in infrastructure.
Are there specific areas in Turkey where you expect real estate prices to rise more?
Yes, there are specific areas in Turkey such as Istanbul, Antalya, Bursa and coastal cities where real estate prices are expected to rise more due to the strong demand there.
The idea of buying real estate in Turkeyhas become popular among those interested in obtaining an ideal opportunity for housing or investment and take advantage of the appropriate real estate investment options in Istanbul to obtain a high return by communicating with our real estate consultants.
Do not forget that investing in real estate in Turkey is only a way to gain Turkish citizenship orreal estate residencepermit that allows you to stay in the country legally and then acquire many of the privileges that a Turkish citizen gets.
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