The state helps Turkish families without any own housing pay for the rent of the apartment

 

Low-income households who don’t have their very own actual property in Turkey. And stay in rented housing obtain from 715 to 1150 liras month-to-month. Turkey offers monetary help to its residents regularly. You may apply for this help on the web site of the e-government of the Republic. The quantity of month-to-month help for renting an house in Turkey depends upon the area and relies on the actual value of renting an house in a specific metropolis. The very best funds are resulting from residents of Istanbul, Ankara, Izmir (1150 lira per 30 days) and Antalya. (1085 lira per 30 days). With this cash, you may lease a modest, however fairly respectable two-bedroom comfort-class house in an unusual Turkish house constructing with out extra services.

 

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Almost 40 percent of apartment buildings in Turkey need an earthquake strengthening

 

Of the 20 million Turkish condo buildings, 7.5 million are seismically unsafe and in want of renovation. This assertion, time to coincide with World Housing Day, was made by Nimetullah Kaya. Chairman of the board of administrators of the development and funding firm Şua İnşaat (Istanbul). He careworn that the city transformation of buildings within the seismic threat zone should be booste throughout the nation. In line with the skilled, greater than 21 thousand seismic shocks have been record in Turkey for the reason that starting of 2020.

 

In Turkey, the place 92 % of territory is positione within the zone of average and powerful seismic threat. The social “Plan for the strengthening of cities” is being applie. Earthquake resilience work continues in all components of Istanbul in addition to in different Turkish cities and provinces. As a part of this system, brigades of municipal staff are changing outdated facades made from low-quality steel and constructing mixtures based mostly on sea sand for the most recent bolstered concrete buildings.

 

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Turkish authorities developed a strategy to reduce the value of new apartments: switch to domestic building materials

 

The Minister of Atmosphere and City Improvement of Turkey Murat Kurum has introduced that the Republic will quickly take measures geared toward lowering the price of new housing. The principle step on this path would be the 100% use of Turkish constructing and ending supplies. If the nation produces all required building supplies advert use them in constructing new homes. This can have an effect on the worth of actual property in Turkey downward, the ministry defined. One of many key elements figuring out the costs of homes and flats in Turkey is the value of supplies utilize in building and ornament. Imported supplies are dynamically rising in value as a result of fall of the Turkish lira. And as well as, as a result of outbreak of the coronavirus, provide issues have arisen. Which partly proceed to today.

 

Within the close to future, the Turkish authorities will develop funding packages that can permit the manufacturing of all imported supplies in Turkey. This may cut back building prices by 15-20 %, specialists say.

 

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Turkey’s real estate market: top news of the week (August 30 – September 5)

 

Maybe the principle occasion of the week was the entry into pressure of the brand new guidelines. That regulate the work of realtors in Turkey. Since August 31, solely licensed businesses have the suitable to promote or hire flats in Turkey. Realtors who promote their properties on social networks with out new permits will face heavy fines. The authorities hope that the brand new guidelines will assist oust non-professionals. And rip-off one-day businesses from the Turkish actual property market. What occurred within the Turkish housing sector throughout the week? The highest property information in English on Turk.Property.

 

    • On the finish of the second quarter of 2020
    • , Turkey was once more named the nation with the very best development price of property costs. In June, we already talked about the truth that flats in Turkey are rising in value a lot sooner than in different European international locations, the expansion in costs for Turkish housing within the first quarter of 2020 was a file 15 p.c. Within the second quarter, Turkey is once more the world chief in condominium costs development: with an 11.59 development price.

 

    • Consultants predict that the rise in property costs in Turkey will proceed for the foreseeable future. The price of new housing is instantly affected by the rise within the prices of growth corporations. The expansion price of residence gross sales within the first half of 2020 was 23.5 p.c. On the similar time, the expansion of mortgage actual property gross sales amounted to a file 221 p.c. Surprisingly, the share of gross sales of flats in Turkey to foreigners fell to an insignificant 0.9 p.c of the full. The specialised media named three major causes for such a pointy decline in international patrons of Turkish housing.

 

    • Turkish architects and designers shared their ideas on how the coronavirus pandemic will change typical residential initiatives in Turkey.

 

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Turkey is the world leader in real estate price growth

 

The worldwide actual property analytical portal International Property Information has revealed knowledge on the worldwide. Development charges of home costs within the second quarter of 2020. The report lined 49 nations, in 33 of them property costs rose in step with inflation regardless of the coronavirus pandemic. A gentle rise in costs was notice in Thailand (+ 8.16 p.c). Portugal (8.12 p.c), the Netherlands. (+ 6.12 p.c), the US (+ 5.02 p.c), Canada (+ 5.19 p.c) ), in Russia (4.82 p.c). Analysts state that predominant purpose for the expansion in such a troublesome time. Re the low mortgage charges which central banks have provided assist their economies.

 

Wherein nations did residential property costs rise probably the most within the second quarter of 2020? Turkey took the primary place (+ 11.59 p.c), the second place is the Philippines (+ 11.52 p.c), the third – Germany (+10.85 p.c), the fourth – Slovakia (+9.13 p.c), Estonia is the fifth (+ 8.28 p.c).

 

Which nations have skilled probably the most important decline in property costs? In Egypt, costs fell by 17 p.c, in Pakistan – by 4.62 p.c, in Puerto Rico – by 4.44 p.c, in Malta – by 3.51 p.c, within the United Arab Emirates – by 3.27 p.c.

 

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Fourth largest Turkish city waits for a big renovation

 

Turkish Minister of Environment and Urban Development Murat Kurum visited Bursa last week. And initiated a major urban renovation of the fourth largest city in Turkey. Large-scale transformations, fully funded by the ministry, await the largest district of Bursa – Yildirim. The renovation will affect 250 thousand apartments (1200 residential apartment buildings) and will be carrie out in two stages.

At the first stage, 600 apartment buildings will be demolish and rebuilt, and at the second – 650. It has been reporte that all residents of dilapidate houses will receive new apartments with a small surcharge (about 20 percent of the cost of an apartment). The money to repay this surcharge can be borrow for 10 years on favorable terms. The renovation program has already been approve by all its participants – residents of the Yildirim district, whose houses are to be demolish, and the city authorities. In place of the old city quarters of Bursa, modern residential complexes of seven and eight stories will be built.

 

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624 thousand properties sold in Turkey in six months

 

In line with the information revealed within the quarterly actual property market report in Turkey. 624 thousand residences and homes had been offer within the nation for the six months of 2020. What preceded this? The final quarter of 2019 (in addition to the primary two months in 2020) turned out to be fairly busy for the Turkish financial system and its industrial buildings. Nevertheless, in March 2020, the coronavirus pandemic additionally affected Turkey, suspending or slowing down many financial processes. Thus, the  nation’s development sector within the first quarter of 2020 decreased by. 1.5 %, and the true property sector in Turkey, which had beforehand demonstrated dynamic development, grew consequently by solely 2.4 %.

 

Within the first half of 2019, 505 thousand homes and residences had been offered in Turkey. I.e. development price of gross sales of Turkish properties within the first quarter of 2020 was 23.5 %. Contemplating the financial penalties of the coronavirus pandemic, this development price is comparatively excessive, consultants say.

 

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Number of issued residential real estate construction licenses increased in Turkey

 

Emlak Kulisi, the Turkish actual property newspaper has printed. The info on the licenses for the development of condo buildings in Turkey issued within the first half of 2020. In keeping with the printed report, the variety of licenses issued virtually halved within the first six months of this 12 months. 45.5 % in comparison with the identical interval in 2019. The realm of tasks that obtained licenses elevated by 40.8 %. The price of development – by 54.8 %, the variety of residences elevated by 72.9 %. From these information, we are able to conclude that the realm of residences in new tasks can be smaller and their price will improve considerably (the rise in costs for residential actual property in Turkey was notice all through the summer season 2020).

 

Within the second quarter of 2020, gross sales of recent residences in Turkey decreased by. 8.1 % in comparison with the identical interval final 12 months and gross sales of secondary housing decreased by. 28 %. Nonetheless, already within the first two months of the third quarter this 12 months in Turkey there was a increase in housing gross sales: each new and secondary housing. In June-July 2020, 420 thousand residences and homes had been offer.

 

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Chinese are actively buying apartments in Turkey

 

Emlak Kulisi, a Turkish development and actual property publication, studies a pointy enhance in demand for Turkish housing amongst Chinese language buyers. A lot of the transactions with consumers from China are carrie out on-line. Residences in Istanbul are the preferred choices amongst Chinese language buyers (well-liked areas embrace Beykoz, Maslak, Umranie). Most frequently, the Chinese language purchase 2+1 and three+1 residences.

 

Overseas property consumers have the chance to remotely choose actual property in Turkey utilizing the interactive three-dimensional platform CuEngine, on which Turkish development corporations and actual property companies publish their properties.

 

Adil Yaman, CEO of CuEngine Turkey:

“On-line condo gross sales in Turkey have considerably grown through the coronavirus pandemic. Being not capable of fly to Turkey, international buyers use the chance to check initiatives on-line. Apply for reserving a property and transaction registration. In addition to remotely apply for a residence allow or citizenship. To make a distant property transaction, a purchaser sends an influence of lawyer addressed to his agent. After which safely turns into the proprietor of an condo in Turkey with out visiting the nation.”

 

Why did the Chinese language begin shopping for actual property in Turkey? The principle motive in keeping with the consultants is the chance to get Turkish citizenship for the entire household on the simplified phrases. With a Turkish passport, the Chinese language can simply get hold of visas to European nations and the USA. Subsequently, the consultants count on that within the subsequent couple of years. The demand for actual property in Turkey amongst Chinese language residents will solely develop.

 

Nonetheless, the Chinese language, who don’t plan to maneuver to Turkey and acquire Turkish citizenship. Are additionally willingly investing in Turkish housing at present: they typically purchase two or three small residences without delay. Vital elements attracting consumers from the Center Kingdom are the price of actual property in Turkey and the dynamic rise in condo costs. (Turkey at present leads the ranking of nations with the best development fee of property costs). Cash for which you should buy new, trendy Turkish luxurious housing by the ocean is sufficient just for a modest room on the outskirts of town in China.

 

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More than a million apartments and houses sold in Turkey in six months of 2020

 

Actual property gross sales in Turkey within the first half of 2020 amounted to 1,058,448 housing items. Regardless of the coronavirus pandemic and associated restrictions. These figures have been print by the Anadolu information company. Many of the residences had been bought throughout this era in Istanbul (150,699 objects). The second place was take by Ankara (93,511 objects), the third – Izmir (58,852 objects). Antalya took the fourth place within the semi-annual gross sales ranking (44,939 objects), the fifth – Bursa (40,240 objects).

 

The entire quantity of charges for the registration of property transactions in Turkey for six months amounted to about 7 billion lira. Whereas the full quantity of transactions reached 194 billion 332 million lira.

 

Dwelling gross sales within the first six months of this 12 months rose 23.5 % over the identical interval final 12 months. Gross sales of mortgage residences and homes throughout teh interval between January and June elevated by 221.4 %. (in comparison with final 12 months’s end result), whereas non-mortgage gross sales decreased by 15.3 %.

 

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