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What are the factors that determine house prices in Turkey?

What are the factors that determine house prices in Turkey?

Many Arab and foreign investors seeking to own a property in Turkey are wondering about properties prices and the factors that influencing the determination of prices, especially after the high demand for buying properties in Turkey following the new laws and facilities offered by Turkish government to investors such as getting Turkish citizenship when investing in real estate by $250.000. More details about Turkish citizenship laws in the following article: Steps of obtaining Turkish citizenship by owning a property in Turkey

 

 What are the factors that determine house prices in Turkey? 

First: the city where you want to buy a property

  • Turkish cities are important in tourism, trade and industry, and therefore it has a significant impact in determining the prices of apartments in Turkey.
  • Tourist cities in Turkey attract investors, tourists and those who want to invest in real estate, such as Istanbul, which is the largest and most important and most beautiful among all Turkish cities; where it includes many areas that appeal to tourists of all ages such as forests, beaches and shopping centers.

 

Second: the location of the apartment within the city

  • The proximity of the apartment to tourist places such as beaches, shopping malls, public parks and archaeological sites such as famous mosques, palaces, old castles, museums and places of entertainment.
  • The apartment has views of the Bosphorus, sea, lake, forest or city view.
  • The apartment is close to the airport and public transportation such as metro, metrobus, main streets, and highways.
  • The proximity of the property to major development projects in the country, such as the new Istanbul Canal and Istanbul Airport, where these properties are witnessing a clear rise in prices.
  • Distance and proximity to the city center itself or the center of the area, such as Basaksehir district, Istanbul's new center, with excellent prices for apartments.

 

Third: the specifications of the apartment itself

Area of apartment, the view, the floor where the apartment is located, number of rooms, number of bedrooms, number of bathrooms and toilets, number of balconies, whether ready to live or under construction, delivery time, quality of materials used, whether the property is new or resale, all these things will affect the price of the property.

 

We at Right Home guarantee you the best prices and offer you a flexible payment plans with guarantees up to 3 years. With the supervision of our legal team on all procedures, feel free to contact us and get a free real estate consultation.