This weekly compilation brings you the most important news from the real estate market in the Republic of Turkey.
With summer in full swing, it's no surprise that rental housing prices on the Aegean coast have increased by up to 80%. The climate in this region is drier, making it easier to tolerate the current abnormal heat. This price growth is good news for apartment and villa owners who bought "spare" properties in these areas specifically for renting.
People are moving to less earthquake-prone areas for both the short and long term as part of the ongoing internal migration in Turkey. Some individuals are leaving Istanbul, where strong earthquakes are predicted in the coming years. Although the authorities are working to minimize the number of risky and unsafe buildings, one district in Istanbul, Başakşehir, the percentage of emergency fund buildings decreased to only 13%.
Despite the population outflow from Istanbul, it remains the city with the highest number of housing transactions. In June, 13,500 units of real estate were sold here. However, experts of the sphere are concerned that the increase in VAT rates and exchange rates will lead to higher construction costs, making housing purchases even less affordable for many people.
Customers in Saudi Arabia, who requested Turkish developers to construct projects worth $150 billion, are unconcerned about prices.
For those interested in purchasing land plots, there are currently over 400 options available in the province of Antalya. Additionally, Next Capital's 491-residential housing estate in Ankara is worth considering.