|Date:||Thursday, January 12, 2023|
Turkey is a destination for major real estate investors around the world, and there are many investment options.
Why did investors turn to land instead of housing?
Turkey is a destination for major real estate investors around the world, and there are many investment options between apartments, hotels, lands, ready and under construction properties, houses and villas..
The government provides its strong support to this sector through many decisions to attract investors, the most important of which is the law granting Turkish citizenship to foreign investors through real estate ownership under special conditions.
Real estate companies undertake to facilitate investment operations, purchase and marketing of various real estate, and the prices of Turkish real estate are very attractive, because of their cheapness in relation to real estate in other countries.
While the activity in the real estate sector continues, the prices of land and housing are also increasing. According to data from the Turkish real estate platform Indexa, as of the end of 2021, the average price per square meter of residential land in Turkey was 866 TL, the average selling price per square meter for shops and stores was 6 thousand 705 TL, and the average sale price was The square meter of offices in the squares is 6 thousand 814 Turkish liras.
An increase in housing costs and a decrease in inventories have prompted investors to invest in land.
“Despite the difficulties, 2021 closed the year well. Declining inventory as a result of increased real estate activity after the pandemic, increased production costs due to the appreciation of the dollar exchange rate and higher real estate prices formed the main agenda for the sector. The increase in housing costs and lower inventories have prompted investors On the other hand, as a result of the spread of the use of remote work with the epidemic, the demand for offices has decreased. Many corporate companies have reduced their office space. As a result, the transformation of productive properties as offices by making them suitable for use as housing has come to the fore.
Increasing demand for logistics centers
On the commercial real estate front after the pandemic, we see that the demand for logistics centers has increased significantly despite the reduced demand in the office market. The main reasons for this are the increased use of e-commerce, the widespread use of fast-delivery brands and the emergence of Turkey as an important alternative logistics hub for the Far East. Given all these conditions, it can be said that 2022 will also be a busy year for the real estate sector.
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