A selection of the most relevant news of the Turkish real estate market is in our weekly digest.
Russians continue to surprise: in 2022, they not only bought the most real estate - we mean, in comparison with citizens of any other states - but also opened the most firms and enterprises in Turkey: almost 1400.
Turkey continues to be one of the world leaders in terms of rental price growth. Therefore, of those who used to rent apartments for decades, everyone who can is trying to get their own housing. What is very difficult now: residential real estate in the Republic of Turkey has risen in price by an average of 180% over the past year.
So not everyone can pay the necessary amount for the purchase of a residence, it is also not always possible to get the missing on credit. As a result, many representatives of low- and middle-income categories of the population have all hope - mainly on preferential programs. As part of one of them, the authorities announced that they would invest 18 billion liras in financial support for those in need of housing. By the way, preferential programs will allow new owners to save at least 100 thousand Turkish lira on taxes.
From alternative options: you can try to buy collateral real estate offered for sale by banks on the cheap. Right now, Halkbank provides such an opportunity. Another option is to pay attention to factory housing: here manufacturers also announce discounts or sales every now and then. The next one started just at the end of January 2023.