|Date:||Monday, August 30, 2021|
The prices of apartments in Turkey, in general, have witnessed a remarkable increase in recent times, and the …0
Apartment prices in Turkey
The prices of apartments in Turkey in general have witnessed a significant increase recently, with the continued high demand for apartments in Turkey, as each property and house in Turkey has its own price, which is determined by the meeting of several factors and foundations. In general, real estate prices in Turkey, including homes, are considered Or homes are acceptable and even competitive prices, especially when compared to other similar real estate in a European country. The competitive prices for homes and real estate in Turkey are among the most prominent features of real estate and increase its importance and attractiveness to investors from all over the world and nationalities.
How are the prices of apartments in Turkey determined?
There are a number of factors to determine the prices of apartments in Turkey, including
Real estate located in the city center will sell more than an apartment on the edge of the city and far from the city center and properties located in a vital location where everything that meets your needs and requirements is within walking distance will definitely have a higher market value than properties that are completely isolated Or it is located in a deserted area in Turkey, as the site has a key role in determining the prices of apartments in Turkey, where real estate prices in the same area sometimes differ.
Specifications of the apartment in terms of area, number of rooms, number of bathrooms, and number of balconies, is it within a separate building or a residential complex, the age of the building new or old, the condition of the property under construction or ready, as well as the area of the apartment because the area has a major role in determining the prices of apartments in Istanbul or Turkey and all the things that have been mentioned contribute to the difference in house prices in Istanbul or Turkey.
The location of the property near important major projects
Such as: the new Istanbul Canal, Istanbul Airport, and Istanbul's commercial malls, where these properties are witnessing a clear rise in their prices.
Like the property is located in a coastal area and has a sea view.
Services and facilities available in the residence
The prices of real estate in Turkey, which are located within residential complexes, must be higher than the apartments located in a separate building, and the reason behind this is that these complexes provide residents with a wide range of first-class services and facilities that work to meet the daily needs and requirements of residents.
Properties that offer close proximity to services such as shopping malls, cafes, restaurants, cinemas, supermarkets, schools, hospitals, pharmacies, subway and bus stations will always have a higher value than properties far from these amenities.
All of these factors are a guide in determining the prices of apartments in Istanbul and in determining the price of any property in any Turkish city, as there is no specific price for trading in the real estate market, due to the diversity of the factors involved in determining the price of the property in Istanbul.
And even in terms of price in particular, there is a permanent fluctuation in the value of a square meter in a specific area, in response to the global economic movement.
The price of the same apartment may change many times and with various values within one week.
Recently, the "New Home Price Index in Turkey" report was released, which is prepared periodically, in cooperation between the Real Estate Investment and Development Information Network (REIDIN), and the Association of Real Estate and Real Estate Investment Partners in Turkey (GYODER). It states that the price of a new home in Turkey has increased by 107.80%, the largest increase in 11 years! This is due to the economic growth witnessed by Turkey in the recent period.
Prices of apartments in Turkey compared to European countries
Apartments in Turkey are distinguished by their excellent prices compared to European and Arab countries as well, and this is what attracted Arab investors to buy apartments in Turkey, as it is cheaper on the one hand, and allows you to obtain Turkish citizenship on the other hand. In Istanbul, for example, the economic capital of Turkey and the largest city in the world from In terms of the number of residents, you can buy a small apartment in an excellent location for only about 100,000 dollars, with the possibility of its price rising to 140,000 dollars when it is ready for housing.
If you look at the countries bordering the Mediterranean, you will find that the opportunities available in Turkey do not exist in other countries, and it also gives you rental returns of up to 5.4%, which makes it the highest in the region.
The American newspaper, The Times, revealed the average real estate prices in Turkey, and indicated that they are 80% to 90% lower than real estate prices in Western Europe, and 50% to 60% lower than real estate prices in Eastern Europe.
Finally, we can say that the Turkish economy today is considered the largest Islamic economy in the world. It has made record leaps over the past few years, and apartment prices in Turkey 2021 have achieved unprecedented booms. Turkey is one of the most powerful economic countries, as it is an active member of the group of the 20 most powerful countries. For this reason, investors are increasingly resorting to real estate investment in Turkey.
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