Property prices continue to rise in Turkey every year. The rise in prices for apartments is steady and rather fast. At the end of last year, Turkey ranked first in the world in terms of growth in property prices. Between 2020-2021, on average, property values ​​in Turkey have increased by almost 30%. The rise in housing prices in Antalya was about 40%.
According to experts, there are several reasons for the rise in property prices:
1. Deficit of real estate and growth of real estate sales. Due to the pandemic and the unstable economic situation in the country, developers were reluctant to start building new projects last year. In this regard, there is a demand for housing, and there are few new complexes. The mortgage company also played an important role, allowing many families to purchase housing on favorable terms.
2. A sharp rise in the price of building materials due to the reduction in their production throughout the country. Many building materials have more than doubled in price!
3. Renovation of the housing stock. Due to the lack of free land for the construction of new houses in the country, the housing stock is being renovated - this is when the developer buys out the land together with the old house and builds a new residential complex in its place, offering the former residents new apartments in the building under construction.
If you believe the forecasts of experts, the rise in property prices will continue this and next year at least. Therefore, we recommend that you do not postpone the purchase of real estate in Turkey for a long time! And our company will help you with the choice of the apartment of your dreams!