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Feb 5, 2023

Real estate prices in Turkey 2021-2022

There is a number of information and details that must be researched and known when you are in the process of buying a property in Turkey. The most important thing to look at is the real estate prices. Are they appropriate? Is it compatible with its features? What was the state of real estate in Turkey for the current year 2021? Is it rising or is it experiencing stability? And how rightful is it to buy a property in Turkey at the present time? You can find out more details about this topic through the following article.

What are the real estate prices in Turkey in 2021?

Since the beginning of this year, real estate prices in Turkey have recorded an increase, and this is a clear indication of the recovery and improvement of the real estate sector after it witnessed a recession last year as a result of the Corona crisis, which stopped the real estate movement and limited the continuation of the investment movement. These are the main reasons that led to the price rise this year:

1 - As a result of the Corona crisis, many real estate projects have stopped working, with an appeal to be made later, and the volume of demand for these real estate has not decreased, leaving a gap in the quantity of real estate required before the offer.

2 - Among the many facilities provided by the Turkish government to foreigners in the real estate field is that it allowed them to own property remotely; The investor will not have to leave his country, it is enough to communicate with one of the famous websites.

3 - The increase in the number of development projects in the country contributes to a significant increase in real estate prices and has a significant impact on the nearby areas.

4 - The country's population is growing, which makes real estate increase, as Turkey receives every year large numbers of foreign arrivals, as the Turkish state for them is a place that meets their needs in tourism, study and work.

5 - Turkey is characterized as having a tourist nature based on all its important tourist attractions and distinctive historical monuments, in addition to its multiple parks and gardens.

6 - Today, Turkey is witnessing many urban transformation projects that will raise real estate prices in general. According to statistics issued by official bodies in Turkey, apartments were the best sellers of real estate among other types of real estate.

What are the main reasons for the increase in real estate sales in Turkey for the current year?

Developed economy:

The Turkish economy has proven during the current world the extent of its strength, after it suffered from a recession last year, and was described as dynamic through its leaps and growth, surpassing many of the world's economies. In this context, it is worth noting that Turkey is characterized by its political and social stability.

Distinguished Infrastructure:

Turkey is one of the most important countries around the world in its infrastructure, as the Turkish government pays great attention to its full confidence in its positive impact on all sectors in the country, especially real estate. Today, Turkey is witnessing the presence of a large number of important development projects that occupy a global position, most notably the new Istanbul Airport, which ranks first in the world in terms of area, highways and an integrated transportation network, in addition to the construction of the project of the era (the new Istanbul Water Canal).

Suitable real estate prices:

Although real estate in Turkey is rising in price, it is still lower than the prices of real estate in the European Union or the United States of America. In addition, it is characterized by quality, luxury and distinctive engineering designs, in addition to being earthquake-resistant.

Government facilities:

The Turkish government has not been late in providing a lot of facilities to foreign investors wishing to buy a property in Turkey and in removing all the obstacles and stumbling blocks from their way that make them worried. Among the most prominent of what it provided were tax cuts and easy procedures to complete the acquisition process.

Turkish Citizenship:

It has become possible for foreigners to obtain Turkish citizenship by owning real estate in Turkey, provided that the price of the property or the total price of the properties if he owns more than one property is not less than two hundred and fifty thousand US dollars with a pledge not to sell it before three years have passed from the date of its purchase. In this context, it is worth noting that the Turkish government worked to make the mentioned amount as it is at the present time, after it was previously one million US dollars.

Geographical location:

Turkey is distinguished by the fact that it occupies a distinguished geographical position through which three of the world's continents are mediated and overlooks the most important seas, in addition to that it extends within two of the world's continents. Accordingly, it has become a meeting place for businessmen, capital owners and traders.

There are many reasons that made real estate prices in Turkey take an upward curve, and according to many real estate experts, it is expected that in the coming days it will record more rise and thus be a distinguished investment opportunity.

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