Highlights on the Real Estate Market in Turkey

Highlights on the Real Estate Market in Turkey

The real estate sector in Turkey today is one of the fastest-growing sectors in the world.

The pace of development is fast everywhere, and at the same time, wherever you are in Istanbul or other Turkish cities, you will not miss the picture of this tremendous urban growth and modern high-end projects. However, you will find all of this mixed with the beauty of nature, which God gifted to this country.

What are the encouraging incentives to buy property in Turkey?

Turkey's real estate market is racing ahead with the most promising real estate markets in Europe. Real estate investment in Turkey is a preferred option in most European countries, given Turkey's strategic position at the crossroads of Europe and the Middle East, its rich resources, which is one of the most important attractions to Turkey's real estate.

The Turkish real estate market has opened its arms to foreign investors from all over the world through amendments to the list of countries whose owners are entitled to own property in Turkey, as well as a number of decisions including the granting of real estate residence to foreign investors. Followed by the decision to grant Turkish nationality to those who buy a property worth 250 thousand US dollars, and these decisions were supported by some laws that allowed tax cuts and exemptions for foreign investments.

In addition, Turkey has already made progress in many industries, making it the home of many trades and traders, and a significant economic center.

Where is the best place to own real estate in Turkey?

Needs and desires of people differ, and this difference is based on choosing the right location to own the new property.

Cities of Turkey in terms of population density can be divided into crowded cities and cities with few congestions. In terms of industrial activity, some cities are famous for their industries, and in terms of commercial activity, Istanbul is considered the most active commercial city, the center of the Turkish economy, in addition to some other cities that were characterized by its commercial activity.

In terms of the beauty of nature and the richness of tourism, some cities enjoy beautiful beaches on seas, such as the Sea of Marmara or the Black or Mediterranean Sea, and each city has its own rich and independent tourist characteristic.

Istanbul is Turkey's most active city in the real estate field. It enjoys special interest among tourists and investors alike.  On the other hand, Bursa, Trabzon, and Antalya are of great importance to the tourist attractions.

Property seeker in Turkey will find the most varied and classy options in apartments for sale in Istanbul or in Trabzon apartments. Moreover, a successful commercial investor will find his best choices in Turkey's offices and shops.

What is the average price of the property in Turkey?

House prices vary in Turkey according to several factors. The real estate space is a key factor in determining the prices of apartments in Turkey, as well as the age and condition of the building. If the property is under construction, it is usually expected to be relatively low, leaving a better margin for a good return on investment in comparison with the ready residence, in addition to the likelihood of future price rise.

As the location of the property greatly affects the price, the proximity of the site or its distance from the city centers, its views, transports, and the services surrounding it have a direct impact on the value of the property.

However, it is useful to quote in this article the latest studies on the average price of real estate bought by foreigners in Turkey. The average price is the average of the values between the minimum value and the maximum value in the set of property price values.

In an earlier statement by Furkan Akbal, Chairman of Nevita International, Anadolu news agency, he explained that the properties purchased by foreigners in Turkey during the first quarter of this year, amounting to 9 thousand and 618 properties. Foreign citizen paid an average of 135 thousand US dollars per property, which is lower than the average real estate prices in Turkey for the same period last year, due to the high exchange rates of the dollar against the Turkish lira.

"But with the high real estate buying trend in the real estate market, we expect this figure to reach $ 150,000 for the whole year," Akbal said.

Property prices in Turkey

We review here some real estate projects in Turkey, within the city of Istanbul.

IMT-121 Bahchekent Residences Project

• The project is located in one of the most prosperous places in Bahçeşehir district, which is known as the new center of Istanbul.
• The project is considered an important investment opportunity due to its proximity to TEM (E80) which allow access to all districts of Istanbul city and due to its cheap prices.
• It contains many shopping centers and surrounded by many touristic and entertaining projects.
• The project is surrounded by vast green areas which will give you amazing views of nature and will make your life healthier.

IMT-133 Hep 34 Complex

• The complex is located at an important point in Esenyurt district which is considered the fastest developing district in Istanbul city.
• The strategic location of the complex with an intersection of E-5 and TEM link roads which are considered the vein of the city.
• Its proximity to the Metrobus makes Traveling between the two parts of the city (European – Asian) as easy as possible.
• IMT-133 is designed to make something entirely fresh, out of the ordinary and thus began working on "The Home of My Life" complex with the idea to create not just a housing complex but an overall living space.
• In the complex, the boundaries between outdoor setup and indoors are stretched in both ways of utilization and visual, IMT-133 is designed as a living space which enables good neighborhood relations.
• Within easy reach, the shopping area makes your life easier and saves you precious time.

Finally, the real estate market in Turkey is promising. As a leading real estate developer in Turkey, with more than 200 professional real estate experts, we in Imtilak Real Estate offer our clients the best real estate services in Turkey. Through our real estate tours, which start from the moment of arrival at the airport, with the best free consultation in the field of real estate investment through our consultants, in addition to many other services that continue after the sale.

Edited by: Imtilak Real Estate©

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