The most important factors in determining real estate prices in Turkey
One of the reasons that encouraged real estate investors to go to Turkey to buy real estate is that their prices are reasonable compared to real estate prices in neighboring European countries and countries with strong economies in the world.
Where it is possible to buy two apartments in a central and central location in the most important city in Turkey, which is Istanbul, at the price of one property in another country in a location that is not as important.
Other factors have also played a role in attracting investors to Turkey, such as the Turkish Nationality Law, which requires that a foreign investor who has the right to own property in Turkey, after purchasing real estate worth $250 thousand, obtain Turkish citizenship.
Turkey is also witnessing unparalleled political and economic stability, which has encouraged investors to buy real estate in Turkey.
One of the most important things that guarantees the foreign investor his economic security in real estate is what is known as the “real estate appraisal document in Turkey”.
It is a document that evaluates the price of the property to be purchased based on several factors.
It seems that you are wondering, dear reader, what are the most important factors that determine real estate prices in Turkey?
We are here to answer your questions.
Factors that determine real estate prices in Turkey.
Several circumstances can control real estate prices in Turkey, and in order to control and control real estate prices, the Turkish government has obligated foreign investors to extract the real estate appraisal document, for several reasons, including: to prevent the foreign investor from falling as a victim of fraud and fraud, in addition to controlling Real estate prices and prevent them from increasing as a result of internal influences on prices.
Real estate prices in Turkey depend on several factors:
1- Property location:
All experts around the world believe that the price of a property in any spot on the earth is determined by the most important factor, which is the location of the property in relation to the city.
The property is always valued higher in the center or closer to the center.
As the city center is already the financial, commercial and tourist center, it mostly includes the most prominent historical and archaeological monuments that bear historical evidence of the nobility of this city.
The location of the property in relation to the most important facilities such as transportation lines, hospitals, universities, etc., plays a prominent role in determining real estate prices in Turkey.
2- The condition of the property.
In other words, whether the property is used or not, or the condition of the property can be determined by the age of the building that includes it, as many customers do not want to buy real estate in Turkey in old buildings, or used properties at the depreciation limit, where the defects of the consumed property can only be discovered after the expiration of a period from time.
3- The area of the property.
Certainly, the most important factor affecting the prices of real estate with similar conditions (location, condition and floor height) is its area.
This is logical, as the larger the area of the property, the higher its price.
4- Floor height:
Investors usually prefer to own on high floors, in order to get a charming view of any appearance of the building.
5- Exterior design:
The exterior design of the building affects the value of the apartments in it, as the beautiful engineering exterior leads to an increase in real estate prices inside.