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Real estate prices in Turkey in 2021

Real estate prices in Turkey in 2021

The economies of most countries of the world have been severely affected by the coronavirus pandemic and quarantine measures introduced in 2020. However, last year was more than successful for Turkey, its construction sector and real estate sales due to general stagnation. shop. At the beginning of spring 2020, no real estate purchase and sale transactions were registered in the country.
The Government has taken several key and effective measures to combat the market. First of all, a unique mortgage campaign was conducted for Turkish citizens with the lowest interest rates on loans with excellent results. At the end of the year, about one and a half million apartments and retail space were sold.
What it looks like in the retail market, is there a demand for real estate in Turkey and what are the forecasts for the current 2021 for their value - read in our review.
How the coronavirus affected the Turkish real estate market
The coronavirus and quarantine epidemics have certainly affected all spheres of life and activity of the Republic of Turkey. Most of the negative impacts on the real estate market are associated with quarantine restrictions, border closures and the cancellation of interstate transport links.
Nevertheless, real estate agents and developers literally bought real estate from a distance in a short time with the support of the state.
Foreign citizens have a unique opportunity to inspect real estate not only remotely, but also without the risk of making a legal purchase.
With the opening of borders and the improvement of air transport, the demand of foreign investors for housing has gradually increased again and has grown significantly thanks to the unprecedented anti-crisis mortgage program among Turkish applicants.

The increase in sales to foreigners is also associated with a decrease in the investment limit for obtaining a Turkish passport when buying real estate. The limit was $250,000. Since the Government has a competent and effective policy to combat COVID-19, many foreigners make informed decisions about acquiring additional citizenship through investment.
Experts note a change of priorities when choosing Turkish real estate among both Turks and foreign investors.
The demand for the purchase of land for development has increased significantly. Compared to the period before the coronavirus, buyers' interest in buying houses and villas with their own adjacent territory has increased significantly, where they can comfortably spend time with their family regardless of restrictions.
Those who are looking for an apartment in a residential complex think about apartments with spacious rooms, large terraces and the presence of a remote office. Investors' interest in houses in houses with a small number of apartments has also increased, as owners avoid crowds of people.

As for the real estate of Turkish apartments, which buyers prefer, experts have compiled a list of priorities based on the results of sales from 2020 to early 2021. It includes:
* Availability of apartments with sufficient space for personal leisure (for example, reading), where a longer stay would be good.
* Good sound insulation throughout the house, especially in the office or workplace when working remotely.
* Availability of heat generators to maintain heat even in the event of several emergency power outages.
* Customers determine in advance the availability of an uninterruptible power supply and high-speed Internet.
* Comfort of the house for short-term and long-term living.
* Large balconies and terraces in apartments, the presence of a garden or an open veranda in houses, villas.

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