All you need to know about apartment prices in Turkey 2022
In the past twenty years, the Turkish state has witnessed remarkable progress in various fields and sectors, and the Turkish government has been keen to provide facilities to foreign investors with the aim of revitalizing the real estate sector. Among these facilities is the amendment of the conditions for obtaining Turkish citizenship and granting work residence to those who work continuously in Turkey and according to a work contract in addition to Social guarantees and health care laws for foreigners with positive changes to foreign investment laws ensuring that foreign investors are treated the same as Turkish investors.
Factors affecting the prices of apartments in Turkey
City in which the property is located:
This is the most important factor in determining the price of the property due to the advantages that each city provides at the tourist, commercial and industrial levels. When we take a simple look at real estate prices in Turkish cities, we find that Istanbul ranks first in real estate prices in Turkey because of its distinctive tourist areas And because it is a huge commercial center, followed by the cities of Trabzon, Bursa, Antalya and Yalova, which embrace a group of charming natural areas, and in general real estate prices in Turkey drop in cities such as Konya, Eskişehir and Gaziantep.
The location of the property within the city:
The location of the property plays a very important role in determining the price of the property. The price of real estate within one city varies according to its proximity or distance from natural and archaeological places such as beaches, lakes, famous religious places and many others.
The proximity to service projects:
such as the transportation network, airports, and highways.
Huge infrastructure and major investment and economic projects:
Experts expect the real estate market to witness a significant rise in prices after the opening of mega projects such as the New Istanbul Canal and Istanbul International Airport, which in turn will attract many new investors
The Property’s Specifications:
What is meant here is the quality of the property’s cladding, its area, the division of rooms, the location of the property within the building, and whether the property is located within a complex
Modern residential or independent building, all of this plays an important role in determining real estate prices in Turkey.
Steps to buy a property in Turkey:
- Dealing with a reputable real estate agent with extensive experience with the need to verify that the real estate company is legally licensed and approved by the Turkish government.
- One of the important steps when buying any property is to determine the expected requirements in the property, such as the location and specifications of the property, and the goal of purchasing the property must be determined, in addition to allocating a specific budget.
- Real estate tours to inspect and examine the property on the ground, in addition to the need to see real estate prices in Turkey in general and in the real estate area in particular.
- If the property that complies with the objectives and requirements is selected and the price of the property is agreed upon, the reservation must be confirmed and a certain amount paid with the aim of freezing the property for the benefit of the buyer, which guarantees the right of both the seller and the investor.
- Finally comes the stage of official and legal transactions, such as extracting the tax number from the tax directorate of the region in which the property is located, and then opening an account in a Turkish bank to complete the payment process, followed by the step of signing a property ownership contract and then obtaining a property registration license in Turkey and transferring its ownership to the person Buyer.
Prices of apartments in Turkey 2022:
The Turkish government is working to maintain one level of apartment prices, thanks to the encouraging and positive real estate and investment laws, in addition to the political, economic and social stability in Turkey, which is a good indicator of the stability of real estate prices with expectations of their rise, but at stable rates, which achieves serious profits for the investor in addition to the common and sustainable development interest For both investors and the Turkish government.
In the end, Turkish real estate prices, no matter how high, remain lower than European countries and some Arab countries, and the cost of living is appropriate, making it the best option for investment.
