Current trends of the Turkish real estate market

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Current trends of the Turkish real estate market

The real estate market in Turkey, in which direction is it going, and will it witness development in the coming period?

Current trends of the Turkish real estate market
14th June 2023
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The real estate market in Turkey is one of the vital and thriving markets that attracts the interest of both local and foreign investors, and with the passage of time the real estate market in Turkey is witnessing current trends that reflect continuous developments in this vital sector, so what are these current trends? What are the factors that contribute to its formation?

This article deals with the current trends of the Turkish real estate market and highlights the trends and transformations taking place in this sector and we will learn about the factors affecting market movements and developments, in addition to studying the impact of political and economic changes on the real estate market on the territory of the Republic of Turkey.

 

What are the factors affecting the Turkish real estate market?

  1. The Turkish economy and economic growth rates are among the most important factors affecting the real estate market and a booming economy promotes job opportunities and financial stability, which drives demand for real estate.

 

  1. Government policy plays an important role in shaping the real estate market and the Turkish government offers incentives and facilities to foreign investors and promotes real estate investments through real estate residence permits, tax facilities, and citizenship programs.

 

  1. Real estate prices are affected by the balance of supply and demand and the demand for residential, commercial and investment properties plays a role in determining prices and market trends.

 

  1. Areas with advanced infrastructure and new urban projects are receiving increasing interest from investors and infrastructure improvement increases real estate value in those areas.
  2. The impact of technology in the real estate market is noticeable. Multimedia applications, digital marketing and recent developments in construction technology can make real estate more attractive and accessible.



What aspects distinguish the Turkish real estate market?

  1. Turkey is witnessing strong and sustainable economic growth, which boosts investments and supports the real estate market.
  2. Turkey is a bridge between European and Asian continents, making it an important destination for international trade and investment.
  3. Turkey is one of the countries that attracts huge investments, has a developed infrastructure and offers many opportunities in the areas of residential and commercial real estate.
  4. The country offers good opportunities for acquiring real estate at reasonable prices compared to some other real estate markets.
  5. The Turkish government offers generous programs to obtain citizenship or long-term residency through real estate investment, which attracts foreign investors.
  6. Turkey is witnessing a strong internal demand for real estate, whether by Turkish citizens or foreign residents residing there.
  7. Foreign investors can freely own real estate in Turkey and get full ownership rights to the property.
  8. Possibility of obtaining a Turkish passport when buying a property in Turkey with a value of $400,000.
  9. The Turkish government offers tax incentives for those wishing to invest in real estate in the real estate sector in Turkey.

 

Expert predictions about the Turkish real estate market 2024

In general, some expectations indicate the continued growth of the Turkish real estate market in the coming years and it is reinforced by the same factors as continuous foreign investments, high demand for residential and commercial real estate in major cities such as Istanbul, Ankara and Izmir, and continuous improvement in infrastructure and urban development and there may also be promising investment opportunities in emerging real estate sectors such as tourism and suburbs close to major cities.

 

However, it must be taken into account that real estate markets are affected by many internal and external factors that can affect future expectations.

 

The Turkish real estate market has been affected by infrastructure projects

The various infrastructure projects being implemented in Turkey have greatly affected the real estate market, having a positive impact on the economy and stimulating growth and these projects have led to an increase in the demand for real estate, and an increase in its prices in several regions, including Istanbul and Antalya and the number of people seeking to buy homes in these cities is increasing.

 

The government is investing heavily in transportation links such as roads, railways, and airports, and this creates new opportunities for those who want to buy or rent real estate in Turkey and with these measures, the future of the real estate market in Turkey is expected to be very positive.

The Turkish real estate market is a role model for successful and distinguished markets and it opens the door for investors and presents unique opportunities that can be exploited and benefited greatly and this market is attracting interest thanks to the availability of advanced infrastructure and government investments in urban development, and is reinforced by the increasing demand from local and foreign investors.

 

Will real estate prices rise in Turkey?

Historically, some areas in Turkey may witness an increase in real estate prices based on the increasing demand, infrastructure development, and government investments and it must be borne in mind that prices may also be affected by general economic factors and changes in the global real estate market.

If you intend to invest in real estate in Turkey, it is important that you conduct the necessary research and consult local real estate companies to obtain an accurate assessment of the market and its expectations and it can also be helpful to look at past price patterns and learn about current economic and political developments in the country.

 

You must remember that real estate investment involves risks, and although there are good opportunities in the Turkish real estate market, it is essential that you are aware of the potential risks and do a good evaluation of the project before making any decisions.



Common questions

What are the current trends of the real estate market in Turkey?

The real estate market in Turkey is witnessing an increasing demand for residential and commercial real estate, and there is a continuation of real estate investments by local and foreign investors.

What is the reason for the increased interest in the Turkish real estate market?

Government facilities such as real estate residence permits, opportunities to obtain Turkish citizenship, and sustainable economic growth are some of the factors that have made the Turkish real estate market attractive to foreign investors.

What are the most attractive areas for real estate investment in Turkey?

Istanbul, Antalya, Bodrum, Trabzon and Bursa are among the most attractive regions for real estate investment in Turkey.



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