Factors affecting real estate prices in Turkey
Turkey is one of the most important countries in the real estate field. Moreover, the real estate market in Turkey offers various options that suit all purchasing purposes. However, real estate prices in Turkey differ from one region to another. In this article from Ebla Real estate, we will talk about real estate prices in Turkey and the factors affecting real estate prices in Turkey.
Table of contents:
- Factors affecting real estate prices in Turkey.
- Location of the property in Turkey.
- Type of the property in Turkey.
- The construction lifespan of the property.
- Interior decorations.
- Exterior finishes.
- Social and service facilities of the complex.
- View of the property.
Factors that affect real estate prices in Turkey:
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Location of the property in Turkey:
The location of real estate in Turkey plays a major role and directly affects the value of the property. For example, the properties located in the heart of the city are priced higher than those located in the suburbs. Moreover, the prices of upper apartments with sea views or landscapes are higher compared to apartments on lower floors, which are usually of lower prices. Thus, the real estate investor must choose an important city in Turkey, which has a strategic location such as Istanbul and Bursa. The area of the property should include advanced infrastructure, high-quality transportation network, vital facilities and service centers such as Beylikduzu in Istanbul and Nilufer in Bursa.
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Type of the property in Turkey:
Real estate prices vary according to their type. There are many types of real estate including commercial real estate, residential real estate and others. Thus, the price of buying an apartment in Istanbul or Bursa is definitely different from the price of buying agricultural land, a villa, or a store.
In addition, the area of the property affects the price; The larger property, the higher the price will be.
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The construction lifespan of the property:
The age of the building also affects the price of the property. If the property is under construction, it is usually expected to be relatively low, leaving a better margin for a good return on investment compared to the ready-to-live property. Moreover, new buildings have a higher price compared to the old ones, especially if the property is within modern residential or commercial compounds.
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Interior decorations:
Finishes and interior decorations of the property affect the price of the property. Using the latest techniques and the highest possible specifications in addition to modern decorations increase the value and price of the property in Turkey.
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Exterior finishes:
The quality of the property’s exterior finishes plays a role in determining the price. Better materials during the finishing, the higher the price will be.
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Social and service facilities of the complex:
The services and facilities of residential complexes in Turkey are among the most prominent and important factors that affect the price of a property and increase its value.
Among the services that increase the value of the property are security systems, gyms, swimming pools, gardens, parking parks, cafes and others.
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View of the property:
There are properties with sea views, mountain views, city views or other ones. Undoubtedly, the most charming view, the high value will be.
Edited by: Ebla Group Real Estate
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