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Istanbul: A Magnificent Host for the UEFA Champions League Final

Istanbul: A Magnificent Host for the UEFA Champions League Final

Istanbul, the captivating city that straddles Europe and Asia, recently played host to the highly anticipated 2023 UEFA Champions League Final. The clash between two European football giants, Manchester City and Inter Milan, took place at the breathtaking Atatürk Olympic Stadium on a historic night. This article delves into the significance of Istanbul as a host city for such prestigious sporting events and the electric atmosphere it creates for fans and players alike

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President Erdogan Triumphs in Turkish Presidential Election, Securing Third Decade in Power

President Erdogan Triumphs in Turkish Presidential Election, Securing Third Decade in Power

In a closely watched electoral showdown, President Recep Tayyip Erdogan has emerged victorious in Turkey’s presidential election, extending his rule into a third decade. Defeating opposition leader Kemal Kilicdaroglu in a tense runoff vote held on Sunday, President Erdogan’s re-election cements his position as the country’s paramount political figure. With nearly all votes counted, preliminary official results announced by Turkey’s Supreme Election Council (YSK) confirm Erdogan’s win with 52.14% of the votes, while Kilicdaroglu received 47.86%.

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Turkey 2023 election & real estate market

Turkey 2023 election & real estate market

That being said, Turkey has a large and diverse real estate market, with a significant amount of foreign investment. Despite political and economic challenges in recent years, the real estate market has remained relatively stable and continues to attract investors from around the world.

As summery of our studies we have two scenarios for real estate market:

Scenario 1: If Erdogan wins

The trends of market will continue and housing prices will probably hike during next 5 years.

Scenario 1: If Kilicdaroglu wins

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Türkiye Property Market Highlights | Q1-2023

Türkiye Property Market Highlights | Q1-2023

The Turkish housing market experienced a decline in the number of transactions during Q1-2023. This was largely due to the earthquake that occurred in the southeast of Turkey in February and the upcoming election on May 14, 2023. Non-Turkish buyers had a very small share of the market compared to 96.4% of Turkish buyers. Istanbul remained the city with the highest number of transactions, with 50,461 units sold, indicating a 12% decrease compared to the same period in 2022.

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Will earthquake effect real estate market in Turkey?

Will earthquake effect real estate market in Turkey?

The 7.8-magnitude quake that struck southeastern Turkey – Kahramanmaras, Gaziantep and Adana – left more than 80,000 buildings partially or fully damaged with more than 35,000 fatalities. That catastrophic earthquake will likely become Turkey’s deadliest — a 1939 quake killed 32,962 people.

Generally that natural disaster will have an impact on the Turkey’s real estate market specially in the affected areas, as well as on the overall economy of the country. In the immediate aftermath of a significant earthquake, we expect demand for real estate in the affected area may decline as people move away from the area or are hesitant to invest in property there. This can lead to a decrease in property values and a slowdown in the local real estate market. In cities like Istanbul, the demand may decrease also but due to significant demand in the area that won’t last longer.

It’s also worth noting that the impact of earthquakes on the real estate market in Turkey can be reflected on factors such as the overall economic conditions in the country and the level of investment in the affected areas.

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Which areas in Istanbul are much safer from earthquake in order to live/invest?

Which areas in Istanbul are much safer from earthquake in order to live/invest?

It is difficult to determine which areas of Istanbul are completely safe from earthquakes, as the city is located in an earthquake-prone region and has experienced several significant earthquakes in its history. Earthquakes can occur anywhere in the city and their impact can be influenced by many factors, including the location and depth of the earthquake, the type of soil and geology in the area, and the design and construction of buildings.

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Homist Exclusive Report

Türkiye Housing Market Analysis 2022 – Full Report

TÜRKİYE HOUSING MARKET REPORT 2022

Here you can find summery of what has happened in Turkey’s real estate market in 2022.

In 2022 number of transactions was very similar to same of previous year with 1,485,622 registered units, foreign investors accounts for only 4% of total house sales in Türkiye.

Istanbul has the highest number of sales with 259,654 units (17% share of total sales), Ankara with 126,166 units, Izmir with 83,502 units and Antalya with 80,459 units are the next highest volume of sales in properties among other Turkish cities.

There is significant increase in number of house sales for international investors in 2022, which is the highest in last 10 years with15% increase compared to same duration in 2021.

Russian nationals are standing on the top of list with purchasing 16,312 units in 2022 which has 200% increase compared to 2021, Iranians stand in second place with 8,223 units that has been decreased 20% compared to 2021. Iraq with 6,241 as third biggest buyers and Germany, Kazakhstan and Ukraine are next countries invested in Turkey in 2022.

For more detailed report please check following link:
https://bit.ly/3w7L9ZJ

HOMIST provides professional market analysis for property market which may lead you to make proper decisions for your investment.

* Please note this report has been generated based on our own analysis for personal use. For more detailed analysis and consultancy please contact with Homist agents, before investing in Turkey’s market.

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