Since 2012 almost one and a half million residential buildings have been subjected to urban transformation in Turkey


The Minister of Setting and City Improvement of Turkey, Murat Kurum, stated that since 2012. 1,410,000 housing objects have undergone deliberate city transformation in Turkey. Nonetheless, in response to the minister, about 6.7 million objects are in want of an pressing transformation.


Why remodel residential buildings? We’ve got already stated that 40 p.c of the housing inventory in Turkey must be strengthen towards the specter of earthquakes. As 92 p.c of Turkey’s territory is a seismic danger zone. And whereas the province of Antalya is situat in an space the place the specter of devastating earthquakes is zero. Different cities and provinces (for instance, Istanbul, Ankara and lots of others) could undergo generally from earthquakes. Subsequently, since 2012, the implementation of this system for the transformation of condominium buildings has taken place in Turkey.


In line with Minister Murat Kurum, about one and a half to 2 million properties that must be strengthene are situat in Istanbul. Turkey is the one nation on this planet the place city transformation is continuing at such a speedy tempo. In change for emergency or seismically unsafe housing, residents obtain residences in buildings which can be resistant even to sturdy earthquakes.



Apartments in Istanbul, Ankara and Izmir increased 1 percent in a month, how much a square meter cost?


The data on the present costs for actual property in the most well-liked cities amongst consumers of residences in Turkey. Istanbul, Ankara and Izmir has been revealed. So the costs for residential actual property in Istanbul elevated by 1 % in August. The annual rise in costs was 15 %. Right now, the typical price per sq. meter of housing in Istanbul is 3,934 lira (442 euros), the typical price of an residence is 440,608 lira (49.5 thousand euros). The typical month-to-month hire in Istanbul is 1,589 lira (180 euros). The return on funding in Istanbul actual property is 22 years.


Within the capital of Turkey, actual property additionally rose in value by 1 % over the month, the annual rise in value was 17 %. The typical price per sq. meter of housing in Ankara was 2,000 lira (225 euros), the typical price of an residence was 264,000 lira (29,600 euros). The typical month-to-month hire for an residence in Ankara was 150 euros. The return on funding in Ankara’s actual property was 17 years.


In Izmir, the rise in housing costs for the month additionally amounted to 1 %, the annual rise in costs was 18 %. The typical value per sq. meter of housing in Izmir was 3,292 lira (370 euros). The typical price of an residence in Izmir was 408.208 lira (46 thousand euros). On the identical time, the typical month-to-month hire for housing in Izmir was solely 619 lira (70 euros). The payback interval for an residence in Izmir was 20 years.



Property prices in Turkey increased in August by 2 percent


Turkish home costs rose 2 % in August, with an annual development charge of twenty-two %. These figures are give by Emlak Kulisi, the development and actual property newspaper in Turkey. Residence gross sales in August decreased by 26 % in comparison with July outcomes, however in comparison with the identical interval in 2019, they elevated by 54 %, amounting to 170,408 objects. The most well-liked cities for actual property consumers in Turkey in August had been Istanbul, Ankara and Izmir.


Right this moment, the common value per sq. meter of housing in Turkey is 2,569 liras (290 euros), the common value of an condominium is 333,970 lira (about 37.5 thousand euros). The typical month-to-month lease is 1,415 liras (160 euros), and the return on funding in actual property is eighteen years.


In response to the July stats, the common value per sq. meter of residential actual property in Turkey. Whas 2,514 lira (taking into consideration the inflation of the lira – additionally about 290 euros).



How much real estate in Turkey foreigners bought in 2020?


Gross sales of Turkish housing to foreigners, which started to say no in March 2020 as a result of coronavirus state of affairs. Rose in August after a five-month drop. So in August 2020. 3,893 actual property objects in Turkey had been bought to foreigners. 8 p.c increased than in the identical interval in 2019. Iranians, Iraqis and Russians are within the lead amongst August patrons.


If we take the end result for the primary eight months of this yr. Then the gross sales of homes and residences in Turkey to foreigners decreased by a complete of 24.7 p.c – to twenty,896 objects. Representatives of the Turkish actual property sector notice that residence gross sales to foreigners should still attain the outcomes of final yr within the remaining 4 months: if there is no such thing as a second wave of coronavirus with air journey restrictions.



More than million apartments and houses sold in Turkey


For eight months of 2020, a document variety of residential actual property was offer in Turkey – 1 million 24 thousand 534 objects. That is 42.6 % greater than in the identical interval (January to August) final 12 months. Turkish house gross sales have surged regardless of the coronavirus pandemic. In keeping with knowledge revealed by the Turkish Statistics Institute (TUIK). In 2019, 718,570 homes and residences had been offered in Turkey from January to August. This 12 months, mortgage gross sales elevated in 8 months by 263.7 % and amounted to 473,114 objects. Market specialists predict that the annual consequence for 2020 can be general greater than the gross sales consequence for 2019.


In keeping with the Hürriyet newspaper, April 2020 was the month when actual property gross sales in Turkey fell to 42,783 properties, in Might they remained on the stage of fifty,000 properties. Nonetheless, as early as June 2020, house gross sales skyrocketed because of the mortgage marketing campaign. The June result’s 190,000 objects, the July is 229,000 objects, the August is 170,408 objects.



Turkey running out properties for sale


Due to the mortgage marketing campaign that has been occurring in Turkey for the reason that starting of June. The nation is operating out of properties out there on the market. Emlak Kulisi, the development and actual property newspaper in Turkey. Reviews that 70 % of the properties provided on the market via ads have been offer up to now. So in June 190 thousand residential actual property objects have been offer in Turkey (of which 100 thousand have been purchase in a mortgage). In July 230 objects have been offer (130 thousand have been purchas in a mortgage). In August, the mortgage marketing campaign started to say no. 170 thousand residences and homes have been offered in a month.


Simply two or three years in the past, mortgages in Turkey have been way more inaccessible attributable to excessive charges. Due to this fact, there have been many individuals who needed to accumulate their very own housing: all of them have taken benefit of the mortgage alternatives that opened in 2020. Within the close to future, a rise in property costs is extremely more likely to happen in Turkey, related to a scarcity of housing and the mortgage marketing campaign.



102 properties belonging to Turkey’s national patrimony listed for sale in Istanbul


The Istanbul Environment and Urban Planning Authority has auctioned 102 properties of Turkey’s national heritage. The objects are located in five districts of Istanbul: Atasehir, Kadikoy, Maltepe, Uskudar and Pendik. The cost of objects starts from 160 thousand liras, including state-owned objects for sale – residences and apartments, offices and shops. The most expensive object on the list costs 1.3 million lire.


It is reporte that it is possible to buy public real estate in Istanbul at an auction in installments for a period of not more than two years (with a down payment of one fourth of the total cost of the object). Residents of the residences and apartments put up for auction can buy them in order of priority.


It is also reporte that state-own real estate, which will be sold at auction, is further exempt from property tax for five years.



August real estate sales in Turkey increased by 54.2 percent and amounted to over 170 thousand apartments and houses


Residence gross sales in Turkey in August 2020 elevated by 54.2 % in comparison with the identical interval final yr. This info was offer by Turkish Finance Minister Berat Albayrak, calling this truth nice information from the development sector. A complete of 170,408 housing models had been offer in Turkey in August this yr. The minister stated in an announcement. Albayrak congratulated the development and actual property employees in Turkey. On their success in his microblog and revealed a chart displaying the symptoms of house gross sales over the previous three years. In response to the revealed knowledge, in August 2018, 105,154 residential properties had been offer in Turkey, 110,538 in August 2019, and 170,408 in August 2020.



Demand for houses and plots continues to grow in Turkey


The coronavirus pandemic has provoked a dynamic progress in demand for indifferent homes and land plots on which you’ll construct a home and run a farm. In line with Emlak Kulisi, the development and actual property newspaper in Turkey. Many Turks at the moment both purchase land plots and construct homes on them. Or promote their metropolis condo to purchase a home within the suburbs. Because it was mentioned earlier than, the pandemic has modified the preferences of property patrons in Turkey. Now those that are searching for housing for themselves are looking for essentially the most secluded choice.

The demand continues to develop for self-contained villas and houses which are extra handy by way of self-isolation. Folks search to deal with the consequences of coronavirus stress by taking over gardening and farming on their very own plot of land. Even younger folks have turn into extra aware after the coronavirus: many younger folks have begun to consider the long run investing in land from their small (on account of age) month-to-month earnings. After all, demand can not however affect the price of homes and plots in Turkey: costs are rising.



New real estate project to open in Istanbul, which in the future may become an unmanned air base


Because it was said beforehand, Istanbul will quickly have a brand new architectural image the futuristic Çamlıca TV tower. Today, development and ending work is being accomplis within the constructing. The peak of which is 369 meters, the opening of the tower is deliberate for the tip of 2020. The primary purpose of this new undertaking in Istanbul is the unification of a number of key TV towers underneath one roof of a state-of-the-art telecommunications heart. Along with its direct function, the Çamlıca Tower will function a brand new public area.

On a number of flooring of the tower, commentary decks are being ready for opening. From which vacationers will be capable of benefit from the breathtaking views of Istanbul. The tower can even home two trendy eating places, a live performance and exhibition corridor, and reward retailers. The quantity of investments within the development of the undertaking in Istanbul amounted to 368 million lira. Çamlıca  is design in such a method as to be secure throughout earthquakes and heavy winds. Within the subsequent 30 years, the tower will probably be use for its meant function. After which it may be use as a vertical unmanne aviation base, the creators of the undertaking consider.