Real estate in Türkiye 2023
In this article from Ebla Real Estate, we will talk about real estate in Türkiye 2023. We will also discuss the factors that affect prices and investment in real estate in Türkiye.
Real estate in Türkiye 2023:
The real estate market in Türkiye 2023 is still growing, despite the natural and economic conditions that happened in the country. There are many reasons for the boom of real estate in Türkiye 2023, the most important of which are:
- Real estate investment is one of the most important ways to build wealth.
- Continuing and increasing demand for residential and commercial real estate.
- Construction of modern, high-quality urban projects and presentation of special offers and opportunities.
- Great government support for investments.
- Developed infrastructure and a strong economy.
Statistics of real estate sales in Türkiye 2023:
Real estate sales in Türkiye exceeded 249,000 in January 2023, according to the data of the General Directorate of Land Registry of the Ministry of Environment and Urban Planning, as follows:
- More than 92 thousand residential properties.
- More than 43 thousand lands for construction.
- About 82,000 arable lands.
- More than 11,000 commercial offices and workplaces.
Real estate in Türkiye 2022:
The real estate market in Türkiye in 2022 achieved unprecedented records for real estate sales. Real estate sales in Türkiye 2022 recorded about one and a half million properties. Foreign investors had a significant share. As real estate sales to foreigners exceeded more than 67 thousand properties, with an increase of more than 15% compared to 2021.
Reasons for the difference in real estate prices in Türkiye 2023:
The importance of the city:
The importance of the city plays a significant role in determining the prices of real estate in Türkiye. The tourism, commercial and industrial advantages of each city and its proximity to the sea contribute to the rise in real estate prices. Among these cities: Istanbul, Ankara, Antalya, Bursa and İzmir.
Region:
Real estate prices in Türkiye vary not only from one city to another, but also from one region to another. Certainly, the price of a property in Nilufer Bursa, for example, will be different from the price of another property with the same specifications in Kestel.
Location:
The location of the property has a great impact on determining its price. The strategic location with vital facilities, services and entertainment centers will contribute positively to the increase in real estate prices in Türkiye.
View:
Many people who want to invest and own property will look for apartments with charming views in Türkiye. There are apartments with a sea view, and others with a natural view of the gardens, and so on. Thus, the landscape surrounding the project will change the prices of real estate in Türkiye according to each view.
Specifications of the property:
The internal and external specifications of the property also play a major role in determining its price, including:
The area, the number of rooms, the number of bedrooms, the number of bathrooms, the number of balconies, the year of establishment, the floor number within the building, the date of delivery, the quality of the cladding and other elements.
Demand:
The demand for real estate varies, whether by Turkish citizens or foreigners, from one city to another and from one region to another. Therefore, the difference in demand from one place to another will have a significant impact on the change in real estate prices in Türkiye 2023.
Real estate prices in Türkiye 2023:
The government has recently announced plans to invest heavily in the housing sector, which will lead to an increase in the availability of homes and the ability to affordability. In addition, there are a number of large-scale real estate projects in the works or already underway which will add to the diversity of properties available and give investors more options.
Thus, all indications indicate that Turkish real estate prices are on the way to rise. Moreover, the future of the Turkish real estate market is expected to be very promising, with a growing population and increasing demand for apartments.
Thus, for various options of real estate investments, do not hesitate to contact Ebla Real Estate.
Edited by: Ebla Group Real Estate
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