The latest news of the real estate market of the Republic of Turkey is presented in the traditional weekly digest.
Bodrum residents complain about high taxes, which is not surprising: real estate in Mugla, and in the resort of Bodrum in particular, has always been more expensive than in other provinces. Housing for $300,000 has risen in price to a million over the past few years. According to analysts, residential real estate in Turkey has increased in price 15 times in lira in 9 years.
It is also rapidly increasing in price in Northern Cyprus. The volume of sales in the TRNC is decreasing somewhere, while it is rapidly increasing in other areas. Turkish developers are launching projects here one after another. Moreover, a tender has been announced for the construction of a presidential palace in Northern Cyprus.
Istanbul, as the most sought-after destination, is showing impressive results: here is the price dynamics in the largest Turkish metropolis, but not in lira, but in such an investment instrument as gold.