The rapid increase in the cost of housing forces those wishing to invest savings in real estate to turn to alternative options. Namely – to non-residential real estate: commercial, etc. In October 2022, 153,587 such objects were sold in Turkey – one and a half times more than housing units (102,606).
Which is not surprising: non-residential property is particularly interested in those who do not have enough funds to buy, for example, an apartment. So, in October, land plots for development, fields, as well as commercial real estate: offices and workplaces were in great demand.
Ahmet Buyukduman, Managing Partner of the Istanbul Real Estate Appraisal Agency, noted that the key volume of October transactions in the segment of non-residential real estate falls on land, in particular on fields. Demand for them is noticeably growing.
Especially on building plots where you can build your own housing: from a cheap factory house to a villa or, for example, a small complex for several families (for yourself and relatives).
For those who plan to invest in land and fields, the expert recommended «... first of all, choose areas close to the transport axes. In addition, it is necessary to inspect the land before the transaction, to see it with your own eyes».
By the way, as part of the ongoing and at the same time the largest project in the history of the Republic of Turkey to provide social housing for low-income citizens, one million land plots in 81 provinces were put up for sale. Future owners of these plots will be offered a 10-year interest-free installment plan.
Municipalities also periodically announce their own attractive promotions. For example, recently it was reported about the sale of plots in Izmir Dikili; in Amasya, allotments are available from only 14,600 TL. And in several provinces at once, when buying land, there is a chance to get a car as a gift.