News and articles
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The Central Bank of the Republic of Turkey confirmed, referring to the monthly Housing Price Index, that the value of residential real estate in dollar terms has been declining for the fourth month. Housing in Istanbul rose in price by 1.2% in Turkish lira in January 2024, in Ankara — by 2.4%, and in Izmir — by 2.8% compared to December 2023. As...
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Despite declining credit sales in 76 provinces, mortgage housing is in the highest demand in the remaining five. Moreover, the most unexpected growth for analysts was recorded in Adana, Gaziantep and Diyarbakır. For example, Adana accounted for 99 to 212 apartments per month (in February 2024), which was +114.1%. The total volume of housing sales...
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Istanbul remains the most popular city for purchase of real estate in Turkey. Although Antalya occasionally surpasses it in terms of transactions with foreign buyers, but in general, the metropolis has no competition in this regard. Today, let's delve into the nuances of living in different parts of the city, the specifics of individual locations,...
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Rental rates continue to rise. Although they are limited by the rule of increasing by a maximum of 25% per year for long-term leases until July 2024, this does not apply to commercial projects. The Turkish Institute of Statistics has published the dynamics of rent. Taking into account the consumer price index (CPI) for 12 months, rent growth in...
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The new villa complex in Istanbul — Azure Villas Reşadiye — will be commissioned in three months, in June 2024. This complex is unusual in that it consists of triplex villas (three-storey buildings) — there will be 20. Currently, the commissioning stage of the project is 70%. Azure Villas Reşadiye is located approximately in the middle between...
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According to market experts, the period during which apartments/houses are usually sold in Turkey has increased. So, one of the well-known urban planner, part-time real estate appraiser Celal Erdogdu revealed figures based on the statistics he has. While working on the issue of concluding deals with the three largest megacities, here are the data...
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The Turkish Real Estate Sector Report for the 4th quarter of 2023, prepared jointly by the Association of Real Estate Investment Funds (GYODER) and Ziraat GYO, showed that housing sales fell to their lowest level in the past 8 years decreased by 17.5% YoY to 1,225,926 deals. The fourth quarter showed a decrease of about 23.9% compared to the same...
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We cover a wide range of the hottest topics in the Turkish real estate news for the last week. Land sales in Turkey are at their peak. As for residential real estate, apartments and houses on the Black Sea coast is in high demand. Prices keep going up as well, partly due to the rise in the cost of building materials: concrete alone jumped by 30%....
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Unlike residential real estate, the demand for which decreased in autumn and winter, there is no slowdown in the land sales segment. On the contrary, there is growth. Moreover, many Turks who cannot afford to purchase residences choose a way to buy land plots. As a result, there were record land deals in 2023, and land prices rose by 150% compared...
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Black Sea residential real estate is becoming increasingly popular, especially with customers from the Middle East. Sales in Samsun alone grew by 2% in the first two months of 2024. With increasing demand, prices are also rising: the average cost of a typical residence area of 110 square metres is TL 2.8 million. Returning to Samsung as the most...
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