The report delves into the intricacies of the Turkey property market during the first quarter of 2024. Through meticulous analysis of key statistics and trends by Realty Homist experts, we aim to provide valuable insights for investors, developers, and stakeholders operating within this dynamic sector.
As Turkey strides into 2024, its real estate market is poised for a transformative journey, shaped by economic shifts, political developments, and technological innovations. In this forecast, we dissect the intricate tapestry of factors influencing the sector, offering a glimpse into potential challenges, emerging trends, and strategic opportunities. From the impact of government policies on housing to the role of PropTech in reshaping property transactions, this article aims to equip investors, developers, and homebuyers with the insights needed to navigate the dynamic landscape of Turkey’s real estate market in the coming year.
While third-quarter transactions in 2023 show a 1% increase, we are still witnessing a 14.9% decrease in the first nine months of the year compared to a similar period in 2022, according to statistics. The recent increase in bank interest rates has had a direct impact on housing transactions with bank facilities. In fact, September saw the lowest real estate transactions since 2021, and this trend is expected to continue through the end of 2023.
Turkey, a nation at the crossroads of Europe and Asia, is a land of rich history, diverse culture, and abundant investment opportunities. With its strategic location, vibrant economy, and government incentives, Turkey has emerged as a favorable destination for investors worldwide. In this article, we will explore the various aspects of investment in Turkey and how companies like Realty Homist can assist you in making the most of your investments in this promising country.
Source: TUIK In line with economic challenges in Turkey, real estate market continued decline in transaction volume. New baking strategies regarding the increase of interest rates has significantly effected the market. International investors in Turkey account for only 3% of transactions. #homistgroup#realtyhomist#buyhomeinturkey#investinTurkey#residenceinTurkey#homist#istanbul#luxuryhomes#ramsbeyond#emaar#ritzcarlton#bomonti#citizenship#russia#usa#uk#togetherwebuildwealth
Comprehensive Guide to All Istanbul Districts for investment in Real estate.
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%.
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
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.
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.