Real Estate Price Index

The real estate price index in Turkey is closely related to the boom in the real estate investment sector, which is at the forefront of other investments in the country. Obviously, It has great attention from the Turkish government.

That has substantially helped increase real estate projects within Turkish cities in general and Istanbul in particular.

The success of real estate investment in Turkey is due to many factors. In this article, we shed light on all the points affecting the price index, to guarantee a successful real estate investment.

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Factors affecting the rise in the real estate price index in Turkey 2022

There are many pricing strategies that value real estate correctly, as well as knowing the factors that affect the market value of the property, and these factors are represented in the following points:

1.   Property location

The location is a significant factor that greatly affects the property value from one region to another. The prices of properties located in the city center vary considerably from those far from the city center.

Thus, everyone looking for a lively place to live and settle down, which meets the requirements, will take the property at a greater value due to the required specifications.

2.   Public services and facilities

The residential compounds provide residents with a range of first-class services and facilities, such as restaurants, markets, cafes, schools and hospitals, and other services that meet the residents' daily needs.

These services increase the property price, as they provide comfort, luxury, and safety.

3.   Property view

Apartments and properties with stunning sea, mountain, or forest views are sold at higher prices than apartments overlooking buildings, towers, and other facilities.

The apartment that offers the residents a beautiful view is the one that will be in high demand, and each apartment is of a different value.

4.   Renovation and repair

Before purchasing an apartment, that needs some repairs and renovations, you need to consider the following question: Does your budget afford such renovation?

So before choosing a place of residence, check the financial status, whether the place will require repairs or not.

5.   Floor level

There is no doubt that the high view overlooking the place surrounding the residence site is much more beautiful than the low one that prevents you from enjoying any views. In contrast, the high apartments are far from the noise and enjoy a quiet atmosphere.

Accordingly, as is well known in the real estate market, the value of the apartment rises as the floor rises.

The reason for foreigners' demand for the real estate market in Turkey

The turn out for real estate in Turkey has increased significantly by foreign investors, due to the following reasons:

1. The facilities provided by the Turkish government to investors, which are reflected in the real estate residence permit for a foreigner who owns a property in Turkey, regardless of its price.
2. Resolutions by the Turkish government to reduce the Taxes level on investors and grant exemptions to recover the Tax value.
3. The political stability witnessed by the real estate investment sector in Turkey played a crucial role in supporting investment projects and attracting more foreign capital.
4. The most significant reason is to get Turkish citizenship by purchasing real estate worth more than 250 thousand US dollars while retaining your original citizenship.

The constant change in the real estate price index in Turkey

The reports of the Turkish Statistics Authority showed an increase in the costs of real estate construction in Turkey, especially amid attracting a significant category of investors wishing to buy a property in Turkey, as the houses offered for sale are less against the increased demand.

That has led to a rise in real estate prices in Turkey. Yet, it is cheaper compared to other countries in the region, encouraging investors to buy residential and commercial units in Turkey.

Binaa Investment tips for a successful real estate investment

The real estate investor in Turkey is always looking for a property that suits him and increases the value of his earnings. However, most investors miss some crucial points that should be considered when purchasing a property. That is why the Binaa Investment team offers some tips that guarantee a successful real estate investment, which are:

1. Ensure that the property is within a city with a tourist, economic and historical destination, such as Istanbul and Ankara, as this will be reflected positively on the success of investing in real estate.
2. When choosing a property, whether it is for housing, investment, or trade purposes, make sure that it is close to public transport, bus stations, and transport ports.
3. Choose an appropriate view for your property that suits its type and reason for purchase.
4. Check the age of the building, and start the reconstruction work if necessary, because the older the building is, the more it is affected by accidents or earthquakes. Reinforce your building, then work with confidence.

Consequently, all those reasons and factors help increase the real estate price index in Turkey.

If you want to purchase an apartment in Istanbul or one of the other Turkish cities that suit your budget for a profitable and successful investment, define your requirements carefully, and the Binaa Investment team will help you reliably and safely.

With Binaa Investment, you will get the best investment opportunities for several apartment options, competitive prices, and flexible payment plans, with excellent service before and after-sale.

Edited by: Binaa Investment©