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Real estate in Turkey is going to rise in price in 2017

Real estate in Turkey is going to rise in price in 2017

According to real estate experts, residential properties in Turkey are expected to rise in price in 2017.

Financial and economics experts expect that property prices will increase up to 5%. And in popular destinations like Istanbul, Antalya, Alanya, Izmir, Bursa the property prices will grow more rapidly.

These forecasts are based on the fact that Turkey is now focused on development of global projects. New airports, highways, tunnels, bridges make land more expensive. And the more expensive the land is, the more expensive becomes real estate.

Other factors which boost property prices include construction of new residential houses, government programs on modernization of housing facilities, inflation which allows developers to increase property prices in Alanya and other regions.

Experts' forecasts very often come true. Therefore, it is a right time to invest in Turkey's real estate rather than waiting for price growth.

Turkey's real estate sales increased in the beginning of 2017

The beginning of 2017 showed a noticeable increase in Turkish property sales. Only in January 2017 developers and real estate agencies sold over 95 thousand housing options which is approximately 13% more than in 2016.

Very often people take mortgage loans to buy property and the number of such deals has increased up to over 35%.

The most popular city for buying real estate remains Istanbul. Over 15 thousand real estate options were sold there in January (it is almost 17% of the total sales).

The second popular destination is Ankara – over 10 thousand people bought housing there. Izmir sales exceeded 5.5 thousand homes.

The lowest sales were observed in Hakkâri (8 homes were sold in January) and Ardahan (11 homes).

And among those who bought housing in the first month of 2017 1400 people were foreigners.

Turkish hotels do not rise their prices

Turkish authorities and local companies make every effort to revive the tourism industry and attract more tourists to the country. Therefore, local hotels do not increase their prices keeping them at the level of 2015.

In recent years the tourist flow to Turkey has dropped considerably. But today a slight growth is observed. It is expected that this year about 8 million tourists from all over the world will visit the country.

And Turkish hoteliers have decided to attract them by low prices keeping them at the level of 2015. Some hotels offer even more attractive conditions ensuring additional discounts.

But no matter how attractive hotel prices are, a lot of tourists prefer to rent private holiday villas or apartments.  Properties for rent in Turkey are rather cheaper and offer much more comfortable conditions. And for owners of Turkish real estate it is a high season, a period when they can earn money from travellers.

Turkish tourism players welcome foreign tourists

Representatives from the Turkish tourism sector have called for German tourists to visit Turkey by a message saying: “We have no business with politics. We welcome you all!”

This message was given at ITB Berlin, a key sector event held in Berlin on March 8-12. According to Dogan News Agency, the Mediterranean resort of Antalya was afforded 1 thousand square meters of floor space at the fair.

The fair was attended by Antalya Governor Münir Karaoğlu who invited German tourists saying that nothing has changed in Antalya. He added that the resort is still safe and offers services and human resources with good quality.

Other sector representatives also said that Antalya and all its districts are absolutely ready to host their visitors.

Sector players noted that they had seen great reactions from Germany and other European countries at the fair. And they believe that the country could see a 30-35% increase in foreign tourist flow in 2017 compared to last year.

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