Coronavirus pandemic drives growth in demand for seaside property in Turkey

Coronavirus pandemic drives growth in demand for seaside property in Turkey

Turkish nationals are moving to the coasts of the Mediterranean and Aegean Sea because of the coronavirus pandemic. Izmir became the leader in the growth of sales of villas and apartments by the sea in Turkey. The most popular Turkish online newspaper, Yeni Asır, says that the mortgage campaign has led to a rise in prices per square meter. Izmir even overtook Istanbul in terms of the growth rates of property prices. While in August 2019, 6,025 properties were sold in Izmir, in August 2020, 11,145 properties were sold and the annual sales growth rate reached 85 percent.

The Anatolian region is the second most popular destination among buyers of seaside real estate in Turkey. The annual growth in prices for houses and apartments in Antalya (Antalya, Mahmutlar, Side, Belek, Kemer, Manavgat) amounted to a record 39.72 percent.

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