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What Do You Know about Property Prices in Turkey?

: 2019-07-26 Modified date : 2019-08-16

What Do You Know about Property Prices in Turkey?
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Property prices in Turkey have recently witnessed a boom due to the combination of several factors including the fall of the Turkish lira and the adoption of the new nationality law, which allows the acquisition of Turkish citizenship through real estate ownership on specific terms.

Given the real estate prices in Istanbul compared to their peers in Europe in general, we see a significant decline in the prices of villas and real estate Istanbul, which makes Turkey the right investment environment attractive to investors from all over the world.

What factors affect the prices of real estate in Turkey?

It is normal that the prices of real estate in Turkey vary according to several factors such as location, geographic nature, proximity to the city center, area, the extent of finishing, and the interaction of supply and demand...

Prices of apartments in Turkey vary according to the following factors:

1 / Area of the property

The property’s area is a key factor in determining the prices of real estate in Turkey, but attention must be paid to the net area, total area and internal division, and generally, the bigger the area of the property, the lower the unit price per square meter and vice versa.

2 / Age and construction condition

If the property is under construction, it is usually expected to be relatively low, leaving a better margin for a good return on investment compared to the ready-to-live property, in addition to the likelihood of future price improvements.

Property prices in Turkey

3 / Location

Where the proximity or location of the city centers directly affects the value of the property, the properties located in the heart of the city are priced higher than those located in the suburbs are.

As well as the proximity of the property to historical areas and sea views, all these play a key role in determining the value of the apartment be assessed.

Despite the steady growth of the public transport network in Turkey, the prices of houses in Turkey continue to rise and fall as the public transport stations of all kinds, Metro, Metropolis, or Tramway...

If we take into account the prices of houses in Istanbul, for example, Esenyurt area has preferential prices given that it is experiencing a continuous social and urban renaissance. Some major transport projects are still under construction and in progress, such as new tunnels and metro stations in the region leading to prices variation within the area, as close to the line of the express bus (Metrobus), for example, the arrival of the metro line to the region, led to the growth of real estate investment profits.

4 / Proximity to vital projects

Where the prices of houses in Turkey are clearly reflected by their location of major infrastructure projects, such as the new Istanbul airport, and the Bosphorus Bridge.

Proximity to malls and entertainment centers

Plays an important role in determining the value of the apartment given the importance of these centers in each city, and one of the most popular multi-use malls in Turkey Mall of Istanbul, the leading European-level, and has a wonderful residential complex and commercial mall and commercial office tower ...

6/ supply and demand interaction

Like any other product, real estate prices in Turkey are affected by the supply and demand law, so prices fall when the supply is available and, in contrast, increases when scarce.

Have Turkey's property prices soared recently?

Real estate prices in Turkey in the recent period, especially new ones saw a significant increase, according to statistics published by the Turkish real estate platform GYODER and REIDIN on the index of the price of the new home in Turkey.

The index rose in May 2019 by 0.16% compared to April of last year.

Turkey recorded the highest sales of foreign property in its history, breaking a new record, in the first half of the year 2019, up 68.9% over the same period last year.

IMT-195 Route Istanbul

  • It is so nice to dream but it is nicer if this dream comes true and you live it.
  • Our new Complex is located in Atakoy / Bakirkoyon the European side of Istanbul.
  • Your life in Atakoy will be inspired by your dreams a life full of prestige, central location, investment value and more.
  • The Complex is next to the most thoroughfare highway of the city, E5 Highway.
  • Just 10 minutes away from TEM Highway and 5 minutes away from the coastal road.
  • The entire city is within your arms reach with metro and Metrobus stations in walking distance…
  • All materials and systems to be used shall be according to Turkish Standards and specifications or respective CE, etc. standards.
  • Surrounded by Universities, schools, hospitals and shopping centers.

 Property prices in Turkey

Details of the apartments within the complex are as follows:

Number of rooms

Area

Number of bathrooms

Parking

The minimum price is in US dollars

1+1

76

1

1

143 thousand

2+1

120

1

1

228 thousand

Edited by: Imtilak Real Estate ©

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