How are real estate prices determined in Turkey?
There are many factors affecting the determination of real estate prices in Turkey, and they are not only general factors related to the country’s economic situation and the current situation in the world and the countries of the region. There are other factors that play an active and essential role in controlling the value of real estate prices in Turkey, which are those related to infrastructure, which include Roads, bridges, water resources, sewage, electricity networks, energy, communications, transportation, vital facilities and other projects that Turkey has proven to have made great strides in, such as the water canal, the third bridge, the new Istanbul airport and various metro tunnels
And all this makes the options for buying real estate in Turkey varied and attractive, with suitable and even cheap prices, and it meets the tastes of all types of investors, regardless of their financial capabilities.
But what are the factors affecting the determination of real estate prices in Turkey
It is very normal that factors related to the property itself play a big role in determining real estate prices in Turkey, and here we mean the quality of building materials, the luxury of finishing and finishing, the age of construction and others, but in detail here are the most important things that determine the price of a property in Turkey
The extent and strength of infrastructure development.
Continuously updating real estate legislation to comply with the investment and banking desires of clients.
The Turkish government’s strong support for the foreign investor.
The population increased in Turkey, which exceeded 83 million people.
Incentives offered by the Turkish government to those wishing to purchase real estate for the purpose of obtaining Turkish citizenship.
The annual influx of tourists to Turkey being one of the most important and most attractive tourist destinations in the world.
The support provided by the real estate sector to the Turkish economy, as the demand of foreigners coming to buy real estate in Turkey has contributed to achieving many advantages and benefits for the economy
The huge projects undertaken by the Turkish government such as Istanbul International Airport, the third bridge and the Istanbul Water Canal project, which directly affect real estate prices in Turkey, are increasing.
How do you get the best deal when buying a property in Turkey?
Seeing the property on the ground is very important and pictures and descriptions do not suffice it
Knowing all the characteristics of the real estate project area in which the apartment you want to buy is located in terms of infrastructure, the type of apartment you want to own, and all the facilities and services provided.
Raise the ceiling of expectations and search for apartments designed according to international specifications and standards, as the return on sale or rent in such types of apartments increases over time.
Ensure that your apartment is free from structural defects and all kinds of debts, financial liabilities, mortgages, taxes and legal liabilities.
The use of a real estate agent or a reliable real estate company that follows all your steps in buying apartments in Turkey with transparency, reliability and professionalism.
