There are many reasons for the rise in real estate prices in Turkey..what are they?
There are many reasons that lead to high real estate prices in Turkey. As an investor wishing to own real estate in Turkey, you must be aware of everything related to Turkish real estate, in order to avoid falling into trouble, make the purchase process easy and flexible, and make a profitable deal. Therefore, the editorial team prepared this article, which It includes the most important reasons and factors that lead to a rise in real estate prices in general, read on
First, the size of the apartments
The area of apartments in Turkey is one of the factors that may affect real estate prices, but attention must be paid to the total areas, net areas, and internal divisions, and in general, the larger the property area, the higher the price, and vice versa.
Secondly, the location of the property in the building
In the event that the property is within residential complexes or a building, the floor that is located in the property and its view affects the price of the property, as the apartments on the low floors in regular buildings and in city centers are higher, but in residential complexes and towers, especially if there is a stunning view of the complex, the price of the property increases gradually to the upper floors.
In addition, the side of the property, i.e. whether its ventilation and lighting are good or not, or whether the view of the property is closed to another building or open, are also matters involved in determining real estate prices in Turkey, so apartments overlooking the Bosphorus Strait are more expensive compared to apartments located in the countryside and suburbs.
Third, the type of property
The real estate market in Turkey is characterized by the fact that it includes various types of real estate and their prices vary, of course, according to the volume of demand for the type of property itself, meaning that if the city in which you prefer to buy your property has a high demand for villas in Turkey, then this means that the prices of villas are the highest and in this way.
Fourth, the surrounding services and facilities
As it is known that real estate prices in Turkey located within residential complexes must be higher than apartments located in a separate building, and the reason lies in the fact that these complexes provide residents with a wide range of first-class services and facilities that work to meet the needs and requirements of the population, in addition to real estate that offers close services such as: shopping centers, restaurants, cafes, cinemas, commercial centers, metro stations, various means of transportation, schools, hospitals, medical centers and pharmacies will have a higher value than properties far from these facilities and services.
Mostly, buyers want to settle in an apartment that provides them with all the needs and utilities for a more easy life, and this matter, although it increases the price of real estate, is highly sought after by investors.
Fifth, the age of the property
This reason is not related to real estate in Turkey in particular, because when you want to buy a property anywhere in the world, the age of the property in conjunction with its location affects the determination of its price. This means that when we mean an apartment in a building in a popular area that is several years old, the price of the apartment must be there. Less than a new apartment in the same area or a more modern area, in addition to that in other cases, especially in ancient and historically important cities such as buying apartments in Istanbul, the price of the property increases with the increase in the age of the property if it is located in a historical area or the building is limited It is considered one of the most valuable archaeological sites in the region.
Sixth, returns
This factor is related to the issue of services and utilities, that is, real estate within residential complexes. The availability of facilities such as: swimming pools, gyms, and playgrounds, in addition to cleaning, repair, and guarding services, all require costs that are added to the price of the apartment, and thus increase it.
Seventh, the interior finishes of the apartment
The interior finishes of the property are among the main factors that may greatly affect real estate prices in Turkey, as the quality of cladding and high-quality finishes, luxurious and varied decorations and modern technologies in the apartment play an important role in raising the price of the property, in addition to that, in the event The apartments contained luxurious types of building materials, such as marble, decorations, modern fixtures, or smart devices, all of these details increase real estate prices in general.
Types of real estate in Turkey
In general, the real estate sector in Turkey includes two basic types, under which the most detailed types fall, which are old or resale real estate and new real estate, and these two types include a large number of types, we will talk about them in detail:
Residential real estate
Residential real estate includes a variety of types, including:
- Residential apartments within a residential complex.
- Residential apartments outside a residential complex.
- Hotel apartments in Turkey.
- Studio apartments in Turkey.
- Duplex apartments in Turkey.
- Penthouse apartments in Turkey.
- Villas in Turkey.
- lands.
Commercial real estate
- Shops and stores.
- Office units.
- Restaurants and cafes.
- Hotels.
- Shopping centers.
- Educational and medical buildings.
The future of real estate in Turkey 2023
According to indicators and evidence, real estate prices in Turkey will witness an increase during the coming period, and this prompted many real estate investors to go towards it, as their chances of obtaining profits increase, which enables them to reap huge returns, especially since new real estate began to decrease, and this is a sign that it is necessary Seize the opportunity before it is too late. In addition, one of the most popular types of real estate that has witnessed an increase in its prices is residential apartments, so the future of real estate in Turkish lands is bright.
In conclusion, after seeing the many reasons that lead to the rise in real estate prices in Turkey, you can now contact our specialized consultants to start the process of buying your dream apartment. Feel free to visit our website to learn more about real estate investment in Turkey.
IstHomes real estate company always answers your questions:
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We share with you the steps to buy real estate in Turkey.
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