In three summer months, land prices in Turkey have increased by 35 percent compared to the same period in 2019. Over the summer 2020, all land plots were sold in Turkey for 89 billion TL and the demand for plots remains considerably high. These figures are given by Emlak Kulisi, the construction and real estate newspaper in Turkey. The largest number of land plot sales was recorded in Istanbul (by 15.3 billion TL), Ankara is in the second place with 7.5 billion TL, while Izmir is in the third place (5.6 billion TL). In some Turkey's cities and provinces, the demand for land increased two to three times over the summer and prices rose by 35 percent.
What types of land plots is in demand? Buyers are interested not only in land plots located in big cities with a high population density but also in Turkey's coastal and rural areas.
Kurtulus Altun, CEO of Turkey's online real estate exchange GABORAS (GOS): “As a result of the coronavirus pandemic, many investors have begun to prefer small towns and secluded resort villages to popular cities. From June to August 2020, the demand for land in Turkey increased by an average of 83 percent compared to the same period last year. In Sinop province (which leads in the number of land sales), the demand for plots increased by 295 percent, in Kilis - by 242 percent, in Kirikkale - by 238 percent. The cost of land plots increased during this time on average throughout the country by 35 percent, the highest price increase was recorded in Sinop (82 percent), Yozgart (79 percent), Ardahan (75 percent), Tunceli (70 percent)."
The expert also noted that the transition from urban to rural lifestyle in Turkey will continue and the demand for land will remain high for the foreseeable future.