News
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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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On April 1, 2024, a sad joke awaited the builders: prices for ready-mixed concrete increased by at least 30%. The real estate sector closely monitors the cost of buildings materials. Both concrete and cement are classified as "basic". The price spike is so large that it has attracted the attention of the Ministry of Commerce: despite promises to...
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The state’s target for real estate sales and rentals in 2024 is almost TL 13.2 billion, writes Turkish media. According to the data collected on the draft law on the state budget for 2024 (which is being discussed in parliament), this amount of money is planned to be received into the treasury in two directions — from the sale and lease of real...
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Villa sales in Ballıca Manzara Villaları have started in Pendik district (Istanbul). Two companies are responsible for the construction: Çukurova Gayrimenkul and MSY Yapı. The view villas are located in one of the city’s green areas surrounded by forests on the shore of a lake. They have either four bedrooms and a living room, or six bedrooms and...
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