Many things play a prominent role and affect real estate prices in Turkey, which is important for any property owner or investor to know.
In this article, we will highlight the most important of these factors in terms of location, real estate privileges, construction and architectural specifications, along with other factors.
Choosing the appropriate geographical location is one of the most important factors affecting the price of a property in Turkey. The closer the property is to the city centre, sea coasts, or tourist and historical places, the higher its price, in addition to its proximity to service, health and educational facilities, and the transportation network as well.
Anyone who follows real estate news in Turkey can note that this main factor applies to the city of “Yalova”, which is characterized by its strategic location and proximity to many important Turkish cities, especially Istanbul, in addition to containing important tourist and historical attractions and distinguished transportation network.
It is worth mentioning that the city of “Yalova”, northwest of Turkey, was included in the list of cities most favored by foreigners wishing to own a property to obtain Turkish citizenship, in the first quarter of the current year 2022.
This is one of the main factors affecting real estate prices in Turkey, and what is meant here is how long has it been since the construction of this property? as the price varies if the building is old or new, or even repaired and maintained. Affirmation on the price of the residential apartment that any customer wishes to purchase with the intention of real estate residence, Turkish citizenship, or benefiting from its financial returns, whether through investment or rent.
It is also an important factor in determining the price of the property, the larger the area, the higher the price, and the difference will be clear to anyone who wants to buy or sell the residential property like a small studio, or to anyone who wants to buy or sell a residential apartment of (2 + 1) or (3 + 1), etc. And some say that the price per square meter is usually higher in small apartments compared to the price in apartments with large spaces.
It is also an important factor in determining the property’s price, as the price of the property in Turkey is evaluated according to the floor height and its floor view. It also varies if the apartment is high, whether in a residential building or within a residential complex, where the price increases with the apartment’s floor height and vice versa. Also, the view of the property of the sea or tourist attractions plays a major role in affecting the price of the property, unlike the property that overlooks the side or main streets or some nearby parks.
This factor also plays a role in influencing the price of the property, as the price of properties that are located within luxury complexes and buildings with modern designs is high, unlike properties that lack these details and lack luxury finishes and that doesn’t attract buyers leading to lower prices.
Interior Finishing and Material Quality:
This factor also has a role in influencing the price of the property, and the more the materials used in the finishes are first-class and have a higher quality, the more the price of the property increases, especially if it contains luxurious types of building materials and interior details, such as marble and ceiling decorations, as well as other modern fixtures.
This can be seen in the residential units within the projects of the “OmranTrk” company in “Yalova“. “OmranTrk” relies on what it calls “smart decoration”, meaning that it takes advantage of every detail and even the smallest spaces in any residential unit, which its customers greatly admired.
This factor has an influencing role on the price of real estate in Turkey, in terms of sanitation equipment, electrical installations, gas and heating installations, and other infrastructure-related services.
Quality of Services Within the Complexes:
The services provided by the companies responsible for the residential complexes, which aim at the convenience of customers, also play an important role in determining the price of the property or apartment.