overview

The prices of homes in Turkey may vary from one region to another, as well as from one project to another, in addition to the type of construction, where there are constructions that suit all budgets, and there are constructions and lands whose prices are constantly growing, and prices may vary and vary from year to year.

Home prices in Turkey - home prices in large states

The process of establishing a transportation network and airports and making comprehensive reforms in Turkish laws, in addition to the set of facilities provided by the Turkish government to real estate developers and also real estate investors, plays an important role in Turkey, as it led to growth and prosperity in the nature of real estate in Turkey and thus an increase in the private price Real estate in Turkey in general. In major states such as Istanbul in particular. Turkey has beautiful and unique natural advantages that enable it to make a successful investment in everything related to the real estate field, and the Turkish government is making a great effort at the executive or legislative level.

The reasons for the rise in real estate prices

  • Tax cuts approved by the Turkish government.

  • Completion of many infrastructure projects in Turkey, such as the new Istanbul Canal project and Istanbul Airport.

  • Facilities that are largely provided by the government to foreign owners, such as residency.

The most important real estate investment projects in Turkey

Turkey has an integrated plan for urban transformation, meaning the transformation of rural homes that are dilapidated or uninhabitable, or threatened due to their lack of earthquake resistance features, all of which are being converted into real estate investment projects.

Where the real estate project or the residential complex is considered a qualified place with many attractive advantages such as:

  • Extensive real estate options in all desired spaces and styles

  • Attractive engineering design

  • The vital location, and the Turkish government's interest in implementing advanced service projects near residential complexes to be an incentive to buy homes there

  • Residential advantages of independence and tranquility, services within the complex, and beautiful views

  • Investment advantages in terms of prices, the possibility of owning in installments, and the high values ​​of monthly rents for homes within residential complexes

  • Real estate projects and residential complexes also enjoy the presence of security services at the door of the complex, the presence of green spaces in the vicinity of residential buildings, and places designated for children to play, or for cycling, in addition to playgrounds and sports clubs.

  • Many residential complexes are equipped with well-known brand shops, restaurants, cafes, and various recreational facilities

 

Reasons for the rise of real estate in Turkey

The reasons for the rise in home prices in Turkey, real estate, and the identification of homes in the state of Turkey are witnessing a significant increase in prices during the current period, and this is due to many reasons, including the following:

  • The disproportion between demand and supply, when a person wants to find a home in Istanbul, he searches a lot and does not find what he wants; Because the demand for real estate and homes in Turkey has increased significantly, which leads to an increase in the price.

  • Bank loans, where real estate investment experts have stated that bank loans and the interest rate offered on them may be acceptable, and this is why the prices of real estate and homes in general within the country, specifically in Istanbul, have risen, where the percentage of real estate for Turkish citizens is only about 98 percent. , where they buy based on bank loans.

  • The rise in the prices of building materials, and we may consider that this is one of the most important reasons that led to the rise in home prices in Turkey, in addition to the wages of workers, and this was accompanied by the spread of the Coronavirus and the repercussions of that virus, which greatly affected the economy inside the country, and impeded the commercial movement in most countries of the world.

  • The impact of fires on real estate, as investment experts confirm that home prices in Turkey have risen as a result of the high rate of fires and damage to all areas outside Istanbul, which has led to a significant increase in home prices in Turkey.

Is the price of the home related to the dollar exchange?

Real estate prices in Turkey are priced in the Turkish lira exclusively, so when the exchange rate decreases or increases, the price does not change for those inside the Turkish territory

As for those coming from outside Turkey, we can answer this question without going into details. In short, we can say that the decline and rise of the Turkish lira greatly affect the real estate market in Turkey, in addition to construction costs, as the exchange of the Turkish lira is witnessing a significant rise and fall in recent days.

When the Turkish lira falls against the dollar, construction costs will rise, and thus home prices will rise, but an interval appears between the rise and fall of the Turkish lira in which prices change. 

In summary, we can say that the profit and loss in the field of buying homes in Turkey for the purpose of investment cannot be determined to a large extent, as the issue depends on the process of patience and that the profit in the process of buying a property requires waiting.

The annual increase in home prices in Turkey

When looking at a statistic published by the Statistics Office in Europe, it was mentioned that Turkey ranked first among the countries of the European continent, as it recorded the highest annual increase in home prices, and that the annual increase in home prices in the European Union during 2021 ranged between About 6.1 compared to last year 2020. 

According to the data mentioned, Turkey outperforms all European Union countries in terms of increasing the prices of apartments and homes, and the rate of increase in home prices in Turkey during the first half of 2021 was approximately 32 percent compared to last year's prices. 

The increase in the percentage focused on the prices of homes in Turkey in major cities, where the city of Istanbul topped the first place, followed by Ankara in the second place, and Izmir in the third place, where the city of Istanbul attracts investors, in addition to Trabzon and Antalya. 

Naturally, the major cities in Turkey have the largest percentage of buyers' demand for homes for sale in Turkey, and this clearly affects the annual increase in real estate prices.

 

Fanar Realty helps you

The prices of homes in Turkey are different. We have at Fanar company, and we also offer exclusive services to our customers, and you can investigate the company, in order to ensure a good price, in addition to the best services provided. 

Fanar is one of the largest real estate companies that are interested in real estate marketing services and can meet the requests of all valued customers in the case of inquiries about apartments, lands, shops, offices, stores, and all types of real estate in Istanbul and several other states. 

We are at your service at any time in order to provide you with everything you need about the prices of homes in Turkey and we go with you step by step until receiving the key to your new home and fixing the ownership in the Title deed Department, and all other services, including legal, procedural and advisory, and even after-sales services. 

 

We hope that we have provided you with the most useful and satisfying information about everything related to home prices in Turkey and the special annual increase in home prices in Turkey.

 

 

 

 

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