Real estate market expectations in Türkiye

In this article, we will talk about the real estate market expectations in Türkiye

Current opportunity for foreigners to buy real estate:

Due to the current decline in the price of the Turkish currency compared to the US dollar, real estate prices have increased for Turkish citizens,
Consequently, the demand for real estate on the part of Turkish citizens decreased, while the issue was reversed for foreigners who own American dollars, as prices became lower than before.

This equation is now, and for a short period, on the way to change with the state adopting an economic and financial policy that aims in the coming stage to correct exchange rates.

And restore the price of the Turkish currency to its previous state.

In addition to the temptations of living in Turkey and the temptations of obtaining Turkish citizenship, the temptations of real estate prices there are now attracting many foreigners to buy real estate.

Demand is primarily for residential buildings, second for buildings designated for commercial and industrial businesses, and third for agricultural lands and agricultural projects.

The goal of buying now may be simply to hold the property for a period of time to sell it and benefit from the expected price increase.

The demand for residential real estate by foreigners is concentrated in the cities of Istanbul, Ankara and Izmir, because of their international reputation and their historical value and high level in terms of urban, environmental, social and cultural aspects.

For those who choose to live in the countryside in search of peace and quiet, in the countryside of Turkey they find their dreams alive.

There are many sea beaches, mountain forests, a mineral water center, therapeutic waters, skiing centers, and a hot air balloon flying center.

Most frequently asked questions:

• Is it a suitable time to buy real estate in Türkiye?

The current time is considered very appropriate, for a foreign person in particular, to buy real estate in Turkey, whether for the purpose of trading in it, or for the purpose of using it for private interests, whether commercial, industrial, agricultural, or for self-employed work.

Due to the low exchange rate of the Turkish currency compared to the US dollar as a result of the circumstances of the last two years, real estate prices for owners of hard currencies have become very low.

However, due to the adjustment of economic and financial policies that is currently taking place, it is expected that the exchange rate of the Turkish currency will return to its previous level before the recent declines, and this means that real estate prices are expected to rise in the future, which will constitute an abundant profit for real estate investors.

Will real estate prices fall in Türkiye?

After the decline in the exchange rate of the Turkish currency in the past year or two, real estate prices increased for Turkish citizens according to the Turkish currency, which led to a decrease in demand for real estate by Turkish citizens, and a consequently decrease in their prices for foreigners according to the US dollar and other hard currencies.
However, the Turkish government has taken a set of economic and financial measures that are currently being implemented, as a result of which experts expect the exchange rate of the Turkish currency to return to its previous level before the recent declines and the return of the purchasing power of Turkish citizens to its previous state, which fuels the rise in real estate prices again.
In addition to the reasons for expecting a rise in real estate prices:
1 – The Turkish economy continues to advance due to the large facilities and guarantees provided by the Turkish government to foreign investors, which has increased demand for the real estate market.
2 – Turkey’s advanced infrastructure has provided the requirements for economic renaissance, such as highways, railways, airports, and effective service institutions.
3 – The political, social and security stability that Turkey enjoys.
4 – Turkey enjoys a diverse natural environment, all of which are characterized by beauty and moderate climate. There are green plains, forested mountains, and beautiful beaches extending as far as the eyes can see.
5 – The increasing demand of foreigners for tourism and residence in Turkey, due to these factors and the low cost of living compared to parallel European and American cities.

For all this, it can be said that the real estate price line in Turkey has begun to rise again, and that the current time is very suitable for foreign investors to buy.

Al-Hayat Company is at your service to provide all the necessary additional information and details about purchasing real estate in Turkey, and about various investment activities.

You can contact us either by letter or by phone.

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