Will apartment prices rise in Turkey?

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2024-03-08

In recent years, Turkey has witnessed rapid growth in the real estate sector and has seen an increase in demand for apartments and villas, but will the prices of apartments in Turkey rise in the future? This is the topic we will discuss in this blog and we will explore the challenges facing the real estate sector in Turkey, the reason for the low prices of some areas and the reason for the high prices of another area, in addition to the indicators of the price trends of that area in the future.

This blog is directed to those who are thinking of buying real estate in Turkey, so do not miss reading these following paragraphs.

Factors affecting the prices of apartments in Turkey:

Apartment prices in Turkey are affected by a number of factors, the most prominent of which are:

The geographical location of the apartment is one of the main factors affecting its price, as the value of apartments located in vital, touristic, and central areas increases.
The size and design of the apartment affects its price, as the value of larger, well-designed and luxurious apartments increases.
The condition of the general apartment, its modernity and quality affects its price, as new and renovated apartments are more valuable.
The value of apartments in which modern services and facilities are available, such as recreational areas, swimming pools, gyms, and others, increases.
The level of competition in the real estate market affects the prices of apartments, as real estate companies follow competitive policies to attract buyers.
The levels of demand and supply affect the prices of apartments, as the price of apartments increases when the demand is high and the supply is low, and vice versa.
Government policy affects the real estate market and apartment prices, as the government follows policies that encourage real estate investment and reduce fees and taxes, which leads to higher prices at times.

Advantages of buying apartments in Turkey:

There are many advantages related to buying apartments in Turkey, most notably:

It offers many different options for apartments at reasonable prices and suitable for all budgets.
Modern apartment designs with the use of the latest technology in construction.
Privileged and central locations for the apartments, where all the necessary services and facilities are available, in addition to its proximity to restaurants, markets, and entertainment venues.
Easy and smooth purchasing procedures, as assistance services are provided at all stages of the purchasing process.
Great investment opportunities, as the demand for apartments in Turkey is constantly increasing, which makes it an attractive opportunity for investment.
Providing additional services to apartment owners, such as security, maintenance and cleaning services.
The real estate market in Turkey is characterized by stability and continuous growth, which means that investing in real estate in Turkey can be profitable and safe.
Real estate in Turkey can provide positive returns by renting or selling it after a period of time.
Foreigners can obtain residency in Turkey by purchasing real estate, and this allows them to live and work in Turkey permanently.
Turkey is characterized by its rich culture and stunning nature, which makes living in Turkey an enjoyable and exciting experience.
Turkey has a wide range of real estate options, including small, medium, large and luxury apartments.
The Turkish government offers many support and incentives to real estate investors, which helps to make investing in real estate in Turkey more attractive.
The opportunity to obtain Turkish citizenship by purchasing a property worth $75,000 and a pledge not to sell for a period of 3 years, in addition to the possibility of obtaining a Turkish passport and enjoying the ease of travel.
Turkey is characterized by the presence of many local and international schools and universities.
The country includes many local and private hospitals, pharmacies, and clinics that provide the best services and modern technologies.
Turkey is one of the tourist cities that witnessed tremendous growth in the tourism sector, which affects the Turkish real estate sector.

How to benefit from the high prices of apartments in Turkey?

Investors in apartments in Turkey can take advantage of the high real estate prices by buying apartments before their prices rise and investing in them by renting them or reselling them after the price increases and in addition, investors can achieve high returns by buying real estate in areas that are witnessing an increase in demand for real estate, such as: Istanbul, and coastal areas that are attractive to tourism.

The Turkish economy and its impact on real estate prices in Turkey:

In recent years, Turkey has witnessed an unprecedented rise in real estate prices, although those prices are still considered low compared to many European countries and the rise in real estate prices in Turkey is attributed to the policy of lowering interest rates, which led to significant economic growth and real estate prices were also affected by inflation, the increase in construction costs, and the high demand for residential real estate and despite this, the real estate market in Turkey is still dynamic and developing, which makes it a good choice for investing in real estate.

Promising areas to buy apartments in Turkey:

Where there are promising areas for buying apartments in Turkey that attract the attention of dealers in this market, Istanbul is very popular for buying in it, because it includes available and quiet services and beautiful nature and investors can also benefit from the high real estate prices in the lands of the Turkish Republic by investing in commercial real estate, supermarkets, traditional apartments and hotels and this indicates that the growth of the Turkish economy and its impact on real estate prices makes Turkey an attractive market environment for investors in various fields.

How to buy apartments in Turkey:

After choosing the appropriate method for purchasing an apartment, the following steps must be taken:

Determine your purpose and goal of buying apartments in Turkey, whether it is for the purpose of real estate investment, the goal of obtaining Turkish citizenship and real estate residence, or with the aim of renting them during the tourism seasons and reaping revenues.
You must search for the right apartment that meets all the needs and requirements and that fits your budget.
Determine the type of apartment, where you should ask yourself, do you prefer penthouse apartments, triplex apartments, or studio apartments?
The use of reliable real estate companies with a good reputation to help you find the right request, and protect you from falling into scams.
Carrying out field tours accompanied by the selected real estate company, to ascertain the condition of the property on the ground.
The price must be negotiated with the seller in order to agree on a suitable price for the apartment.
After agreeing on the price, a sales contract is signed between the seller and the buyer.
The agreed amount is paid and the apartment is registered in the name of the buyer at the local Land and Real Estate Department.

Common questions:

Is it possible to buy an apartment in Turkey in installments?

Apartments in Turkey can be purchased by paying in installments, where part of the price of the apartment is paid in advance, and then the remaining installments are paid at specific time intervals.