The real estate market in Turkey has witnessed a remarkable recovery during the past two years (2021, 2022), which indicates a continuation of its recovery for the next year, 2023, as a result of several factors.
Among the most prominent factors is the Turkish government’s interest in the real estate sector and granting many facilities to investors.
Among the reasons that confirm the recovery of the real estate sector in the coming year is the desire of investors, especially the Gulf, led by the Saudis, to pump their investments in various sectors, including the real estate sector, which will make real estate prices rise at an accelerated pace.
In comparing real estate prices in Turkey with those in European countries, we find that the prices are incomparable, making the demand great by investors of different nationalities to own a property in Turkey. The demand for owning real estate in Turkey is increasing daily. It predicts a continued recovery in the real estate market for the coming year 2023.
In addition, the Turkish state’s plan for the year 2023 was one of the most important factors that led to the increase in the price of real estate in Turkey and real estate in general. This includes the start of construction of very large architectural and residential investment projects in various Turkish cities, which are international projects.
Some attractive factors, such as obtaining Turkish citizenship by buying a property in Turkey, have increased the competition between foreign investors to buy Turkish real estate, which foretells an increase in real estate prices in Turkey in 2023.
Among the things that confirm that real estate in Turkey is on the rise, especially in the year 2023, is that the year 2023 marks the centenary of the founding of the Turkish Republic in 1923. For this reason, the Turkish government has been working on dozens of vital projects that are on their way to be ready in the next year since the beginning of the third millennium. Some are already ready, and others will be completed in the coming months.
Let’s go back in memory a little. We find that the past year 2021, witnessed a significant increase in real estate prices, so it was an indication of what real estate prices will lead to in the current year, 2022, so whoever wants to achieve the highest investment return must hurry to invest in the year 2023 because the investment value of Turkish real estate will achieve Its glory in this year, according to those interested in the real estate sector in Turkey.
All indications indicate that Turkish real estate prices are on the way to rise, and the reason is that Turkish-Gulf relations are back on track, as Emiratis and Saudis are expected to return to the list of the most foreign nationalities owning Turkish real estate, noting that Saudi Arabia came second in 2017 in the list mentioned above.
Observers believe that the Turkish 2023 plan worked to increase real estate offers in a clear preparation for the real estate market after expectations increased in the volume of demand for real estate in Turkey in recent times. The plan worked to double real estate prices in Turkey, especially those properties located within the region, witnessing the implementation of infrastructure projects such as the new Istanbul Water Canal or the new Istanbul Airport.
Economic factors must be addressed because they greatly affect real estate prices in Turkey. After all, economic factors are directly related to prices in Turkey in general and not only real estate but concerning real estate; the strong economy that Turkey enjoys contributes to raising the level of real estate and developing it during recent projects.
It is also not possible to underestimate the tourism factors, which are related to Turkey’s tourist advantages, tourist areas and historical monuments, which lead to attracting a large
group of tourists to Turkey and thus affect the field of real estate investment in Turkey.
Other reasons can be mentioned confirming the rise in real estate prices in 2023, including high construction costs because raw materials are imported from outside Turkey, the fluctuation of the value of the Turkish lira against foreign currencies, the development and luxury witnessed by real estate projects in Turkey, the high population density, and the influx of foreigners to Turkey from Various countries of the world for tourism, study, treatment and job creation.
It is worth mentioning that other features contribute to the increase in real estate prices in Turkey, including the location of the city where the investor intends to invest, the view of the property, and the proximity of the property to service, medical and educational facilities.
These features are all available in the residential complexes and architectural projects of the “OmranTrk” company. Located in “Yalova“, these chandeliers are characterized by their typical apartments, smart décor and a lot that touches all tastes and nationalities.
