Factors that affect the price of apartments in Bursa
The real estate in Bursa is characterized by its rapid development and growth, and its investment projects. The price of apartments in Bursa, as in any real estate market, is influenced by a combination of factors. Therefore, In this article from Ebla Real Estate, we will talk about the factors that affect the price of apartments in Bursa.
Apartment prices in Bursa:
Bursa offers diverse real estate options including residential, commercial and industrial buildings. Moreover, real estate in Bursa is characterized by reasonable prices compared to other cities in Türkiye. Thus, investors can get high returns from their investment in real estate in Bursa.
As a result of being one of the best regions for investment in Turkey, in addition to the large number of urban projects and luxury residential buildings in it; In the statistics for the first quarter of the current year 2023, Bursa ranked fifth among the Turkish states that sell real estate to foreigners, with more than 320 properties.
As of the end of July 2023, property prices for sale in Bursa have increased by 91.62% over last year. The average price per square meter of residential properties offered for sale in Bursa is 17,738 TL as of the end of July 2023.
Factors that affect the price of apartments in Bursa
Location of the apartment in Bursa:
The location of real estate in Bursa, Turkey plays a major role and directly affects the value of the apartment. For example, the apartments 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.
It is worth noting that among the features of the vital location, we mention:
The abundance of transportation, the availability of service centers such as schools and hospitals and the proximity to markets and entertainment centers.
The construction lifespan of the apartment:
The age of the building is among the factors that determine the price of real estate in Bursa. If the apartment 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 apartment. Moreover, new buildings have a higher price compared to the old ones, especially if the apartment is within modern residential or commercial compounds.
Interior decorations:
Finishes and interior decorations of the apartment affect the price of the apartment in Bursa. Using the latest techniques and the highest possible specifications in addition to modern decorations increase the value and price of the apartment in Turkey.
Exterior finishes:
The quality of the apartment’s exterior finishes plays a role in determining the price. Better materials during the finishing, the higher the price will be.
Social and service facilities of the complex:
The services and facilities of residential complexes in Bursa are among the most prominent factors that determine the price of real estate in Bursa. Among the services that increase the value of the apartment are.. Security systems, gyms, swimming pools, gardens, parking parks, cafes and others.
View of the apartment:
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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