Will real estate prices increase in Turkey in 2023?

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Will real estate prices increase in Turkey in 2023?

Are you wondering whether real estate prices in Turkey will rise during the current year or will they remain stable?

Will real estate prices increase in Turkey in 2023?
29th March 2023
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In recent years, Turkey is one of the most important real estate destinations in the world, as investors from all over the world buy real estate in it with the increasing demand, the task of predicting real estate prices in Turkey becomes more difficult, so will real estate prices in Turkey rise, or will they remain constant? In this article, we will highlight some indicators that can be used to answer this question and understand the direction of the future Turkish real estate market.

 

The expectations about real estate prices in Turkey

Real estate prices in Turkey are witnessing an insane rise, and real estate experts generally expect a rise in the year 2023, especially with the increasing demand for them and the high inflation rates in the country with Istanbul topping the list of Turkish cities in terms of the increase in real estate prices, experts expected a further rise in real estate prices and rents in Turkey in the near future, and with the acquisition of residential real estate by foreigners in Turkey, experts expect the prices to continue to rise.

 

Increasing demand affects the price of real estate in Turkey

The increase in demand for real estate greatly affects the real estate market in Turkey, as investors are increasingly interested in buying real estate due to its high prices, and Istanbul is the most affected by the increase in demand, due to its being a preferred destination for tourists and investors, which provides abundant investment opportunities which makes it a major destination for buyers who want to get a good return on investment as this increasing demand has led to an increase in real estate prices in various regions of Turkey, and it is expected that prices will continue to rise during the next few period, while taking care of it through taking government steps to curb the high demand for real estate and stabilize prices in the markets.

Real estate prices in Türkiye

Turkey's most expensive real estate

Turkey is famous for being one of the most attractive places for tourists to buy real estate, and the prices of these real estate have increased significantly in recent years and therefore, Turkey's real estate is considered the most expensive in the region, and prices vary according to the region as some exceptional coastal areas such as Bodrum and Beylikduzu (area within Istanbul) are the most expensive and famous metropolitan areas such as Istanbul, Ankara and Bursa are also among the most expensive.

the demand for these properties is increasing, and with less supply, the prices are rising even faster and in order to be able to buy real estate in Turkey, it is preferable to choose some of the least expensive investment areas and not be overly ambitious.

 

Can you find cheap real estate for sale in Turkey?

Despite the rise in real estate prices in Turkey in recent years, there is still a possibility to find cheap real estate for sale in some areas as it is important to know that there are several factors that affect the price of the property, such as: location, area, condition of the property, and the building techniques used in its construction and one of the most important factors that may help in finding cheap real estate is searching for areas near the city center that are not very popular, waiting for discount periods that real estate companies may offer, in addition to searching for real estate for sale using the bidding system offered by the Turkish government.

 

The motives for the high real estate prices in Turkey

Various factors are working on the rise in real estate prices in Turkey, as the country is witnessing economic development and rapid growth in the current period, which makes it a destination for many foreign investors and Turkish citizens, the demand for real estate is increasing increasingly, as individuals seek to invest their money in real estate, to maintain its value and insurance for their savings and in addition, the rising costs of construction and the lack of housing supply are affecting the escalation of real estate prices in the country as economists and real estate analysts expect real estate prices to rise in the future, as a result of the rapid economic activity and popularity in the country.

 

The cheapest Turkish cities to buy a property

Turkey contains many cities that are among the cheapest cities for those looking to buy a cheap property in Turkey, and among these cities is the city of Mardin, which is located in the southeast of the country, and is famous for its archaeological sites and beautiful areas that are characterized by their natural diversity as the city of Antalya is also famous for being a beautiful city on the Mediterranean coast, as it is distinguished by its picturesque archaeological and natural sites, as well as suitable real estate prices for those looking for real estate investment.

Likewise, Istanbul is one of the most popular cities for real estate investors, because it is one of the most important commercial, cultural and tourist centers in Turkey and one of the ideal cities for those looking for real estate at affordable prices is Bursa, which is one of the secondary cities in Turkey as this city is famous for affordable real estate prices and the variety of investment opportunities it offers.

 

The effect of tourism seasons on real estate prices

Regular tourism affects the movements of real estate prices in Turkey, as real estate prices increase significantly in the strong tourist seasons as the statistics indicate that the famous tourist places are witnessing an increase in the demand for real estate, and become more attractive to real estate investments, which increases competition and demand in the real estate markets as the increase in demand for real estate reflects a positive impact on their prices during the busy tourist seasons, and investors may face difficulty in obtaining investment opportunities available during these periods and since Turkey is a famous tourist destination in the world, real estate investment enjoys a promising future and is considered a gateway towards achieving profits above expectations.

Advice provided by Binaa Real Estate Company, do not hesitate before taking a clear step towards the real estate sector in Turkey now, as the available opportunities are many and deserve to be considered seriously, and any delay is not in your favor because prices are taking their curve in an upward direction as if today is with you to buy and own, tomorrow will not be the case so buy real estate in Turkey and obtain Turkish citizenship or real estate residence for you and your family members for a safe and enhanced residence with many services and features.

 

Related articles :
The guide of real estate investment in Turkey 2022
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The journey of looking for apartments for sale in Istanbul
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How to obtain Turkish citizenship by real estate investment?
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