The Turkish real estate market is one of the most important and successful real estate markets in Europe. Given Turkey's strategic position linking Asia, the Middle East and Europe, as well as providing opportunities for real estate investment companies by combining the construction and construction sectors with increased commercial and industrial production.
The Turkish real estate sector is one of the most important pillars of the country's economy. Where the Turkish government seeks to develop the real estate market more year after year. This has been observed in recent years. The real estate market in Turkey has seen a great deal of interest in the purchase and investment of real estate in Turkey not only by local citizens but also by foreigners from around the world who live on or outside Turkish territory. This may be due to the facilities set by the Turkish government and real estate investment companies within the real estate market, the most important of which are:
- Property tax exemption.
- Granting citizenship to foreigners who own one or more properties within Turkish territory.
- Facilities provided by real estate investment companies in terms of payment of the remaining amount of the value of the property by installments.
The Turkish real estate market is expected to rise by 2023, to be 6.3 million housing units available for sale worth US $ 400 billion.
The most important factors affecting the price of real estate in Turkey
Age of the property
The age of construction is very important for those who want to buy housing or investment, as the prices of ready-to-live properties are higher than the prices of real estate under construction.
Area
The prices of real estate vary in different areas. The greater the area of property in a certain area, the higher the price in the same area.
Region
The region plays an important role in determining the price of the property. The properties located in the center of the city are priced higher than those located in the suburbs and away from the center.
Proximity to markets and transportation
The closer the property is to markets, shopping centers and transport stations (buses, metro, metrobus, and tramway), the higher the price of the property.
View
The view of the property is an important factor in the price of the property, the more the property overlooking the sea, for example, or landscape or overlooking the main streets and subsidiary whenever the price is more expensive than other real estate.
