Will property prices in Turkey grow in 2022

Turkey now draws thousands of individuals from all over the world who want to own and acquire real estate in the country. There has never been a better time to buy or sell an apartment villa or townhouse in Turkey.

 

Turkey has attracted attention due to a number of factors and advantages, including its strategic location among the world’s countries, the beauty of its natural landscapes, and the allure of its history, which can still be seen today in the form of great historical monuments scattered around the globe. The majority of Turkish cities.

Certainly, the availability of the appropriate time component alone is insufficient for the property to be successful and suitable, so one should not be fooled by the low price; instead, one should research the property’s specifications and location, as well as the services and transportation network that surround it, in addition to ensuring that it is free of defects. Or if it is subject to a reserve.

 

Is real estate in Turkey increasing or decreasing in value?

It is undeniable that real estate in Turkey, like all land real estate, rises and falls at different times, and if we focus on the Turkish area, we can see that real estate there is rising rapidly, almost in leaps, and if you buy a property there and want to sell it after a while, you will reap what you sow. In the midst of the wave of projects related to the establishment of new real estate in Turkey, which has become famous in recent years, we can say that it is in a gradual decline, and if it is controlled and these projects subside, this will reflect positively on the Turkish real estate market, as prices will stabilise and stop, and after another period of time, there is a possibility of a resurgence.

 

In Turkey, the price of a m2 will rise by 109 percent in 2022.

A research on apartment price fluctuations in Turkey in 2021 was undertaken by the Center for Economic and Social Studies at Istanbul’s Bahçeşehir University.

The research was based on the database of -sahibinden.com-, one of Turkey’s most well-known sites for publishing adverts for selling and renting real estate.

The study’s findings were released in a paper titled “An Overview of the Residential Apartments for Sale Market in Turkey” in February 2022.

 

According to the statistics in the aforementioned research, the selling prices of residential square metres in Turkey increased by 1.109 percent in the year commencing in January 2022.

In total, the average price per square metre of housing in Turkey was 7,496 Turkish liras.

In January 2021, the average price per square metre in apartments in Turkey was 3,584 Turkish liras, about double the previous month’s value.

 

Factors that influence the cost of real estate in Turkey include:

Property Location: The location of the property is the most important factor affecting the determination of real estate prices in Turkey, as the closer the property is to the city centre, the higher its price, and vice versa, as real estate prices in Beylikduzu are very different from real estate prices in Taksim area, and also the facilities play an important role in determining the price of the property, as property that is located near transportation, hospitals, and universities has a higher price, and vice versa.

Property condition: This criterion is considered relative and can have a negative or positive impact on the price of the property, implying that the majority of those looking to buy real estate in Turkey avoid buying used properties, as they can be very worn out and require major repairs, resulting in a decrease in the price of the property; however, we should not lose hope in this type of real estate, as the price of these real estate can sometimes rise more than the price of new real estate after the repair.

Property size: In general, the larger the property, the lower the unit price per square metre in Turkey. The price per square metre in an apartment with a room and salon style is higher than the price per square metre in a 4-room apartment with a salon if you want to buy by one square metre.

The property’s location in the building or complex: The location of the property in the building or complex is one of the most important factors affecting the price of the property, as the price of an apartment on the first floor differs significantly from the price of an apartment on the last and higher floors.

The external appearance of the property in Turkey: The external appearance of the property is very important in determining the price of the property, especially in famous areas and central areas such as the city centre, where the price of properties located within luxurious buildings with modern designs such as glass facades is high, and properties lacking these details and finishes may not attract the investor’s attention, resulting in a lower price.

 

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