Where Dream Comes Home

REAL ESTATE TURKEY

Prices has increased by 67% in Turkey

21 January 2021
Prices has increased by 67% in Turkey

Second hand housing market of the last quarter of 2020 was announced. According to the report; Although it fell by 30% number of house sales of last quarter of 2020 compared to the same period of last year, the total for the year increased by 23% compared to the last year.

In 2020, the number of home sales increased by 11% compared to last year and reached to 1 million 499 thousand 316. Second-hand home sales accounted for 69% of total sales and increased by 23% compared to last year to 1 million 29 thousand 576 units. Looking at the sale of homes to foreigners, the number of sales fell by 10% compared to last year to 40,812 units.

14.647 units have been sold to foreign buyers

Last quarter of 2020, there were 14.646 houses sold to foreign buyers. There was 23% increase in sales to foreigners compared to previous quarter and 8% increase in sales compared to same period last year.

Prices has increased by 67% for the houses aged 0-4 years

According to propertytr.com’s research which examined the impact of the pandemic on home sales and rent values, found that the largest increase in value was in detached houses aged 0-4. According to the study, the sale price of detached houses aged 0-4 has increased by 67% in the last year and the rental price by 40%.

It turned out that the effect of the pandemic affected the sale value of housing rather than the rental value, and there were very high value increases, especially in detached housing between the ages of 0-4.

According to the study, house sales prices in Turkey have increased by 35% in the last 1 year and the rental price has increased by 17%. According to the figures at the end of December, the average house sales price in Turkey was 2,914 TL, and the average house sales price was 378,820 TL. The average rent per square metre was  13 TL and the average rent was 1,480 TL

Sales price in detached houses up by 67%, rents up by 40 %

When detached houses between the ages of 0-4 are examined throughout Turkey, it is seen that the rate of increase is well above the average. According to data, in the last 1 year, the sale price of detached houses between the ages of 0-4 in Turkey has increased by 67% and the rent by 40%. As of the end of December, the average sales price of detached houses between the ages of 0-4 in Turkey was 5 thousand 894 TL, the average sales price was 1 million 184 thousand 694 TL, the average rent of a square meter was 22 TL, and the average rent was 4 thousand 312 TL.

Yusuf Boz who is founder and current CEO of PropertyTR.com says that  “with the pandemic, most companies have moved to home office working model " .The time spent in the houses are longer now. This, in turn, caused the needs of the real estate sector to change. In our study, we found that with the prolongation of time spent in homes, demand shifted, especially between the ages of 0-4 properties and mostly detached housing. The pandemic also affected the sale value rather than the rental value. People once again understood the importance of the need for housing and shaped their investments in this direction. Although the effects of the pandemic will decrease in the coming period, we think that real estate preferences will continue in this direction,” he said.

 

If you are looking for property for sale in Turkey, please call us on +90 549 870 38 38

SIMILAR NEWS

LET'S CALL YOU
Please fill in the form below and we will get in touch with you shortly
CALL CENTER

Here are the numbers you can directly reach us

PHONE NUMBER
+90 549 870 38 38
WHATSHAPP HELP
+90 549 870 38 38
Open chat