Largest earthquake in Turkey in last 100 years happened. The US Geological Survey said the 7.8 magnitude tremor struck at 04:17 local time (01:17 GMT) at a depth of 17.9km (11 miles) near the city of Gaziantep
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.
Late December, officials of Turkish government announced new major changes will take place from 1 January 2023 regarding Turkish citizenship law. Homist team has summarized the main implications of new regulation as below: 1, Pre-sales Agreement for immovable property has to be signed as a single contract for one immovable property 2, Immovable property value […]
Homist’s analysis shows that many factors will affect Turkey’s property market. That will lead investors to be more conservative in their investments in Turkey’s market. Statistically, 2023 will not follow the extraordinary growth trend that occurred from 2018 to 2022. In general, Foreign Investors may taken risk averse strategy and their return outlook will be moderated, similarly the demand-supply balance has been effected during 2022. We highly advise our clients to thoroughly analyze the offers they receive from developers or agents. However in long term there is no doubt Turkey’s real estate market would appreciate the investment in real estate with acceptable Return on Investment (ROI). The presidential elections is another effecting critical factor that plays critical role for property market in Turkey which will take place not later than July 2023. The opening of the Istanbul International Finance Center (IIFC) in Istanbul might be one of the few positive factors that could affect growth in property prices. Several developing enterprises and contractors will engage in recovery of southern Turkey to build more than 50,000 houses in affected areas which may lead to shortage of supply in the other regions likes Istanbul and effect in prices of properties.
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Homist offers special service for feasibility of projects in Istanbul.
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Ümraniye is very large working class district on Asian side of the city. It was a rudimentary district short time ago. Recently, there has been a great deal of change all around the district. With the projects such as building complex, large shopping malls, entertainment centres and environmental urbanization , Ümraniye is fastest growing district […]