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Property market trends and other real estate news in Turkey

Property market trends and other real estate news in Turkey

What is happening to the property market in Turkey

In order to understand what is going on in the residential housing market in Turkey in 2016, we need to analyze the statistics of property sales in Istanbul. Traditionally, this is the most popular destination to buy apartments in Turkey among foreigners.

There is a tendency of buying the so-called «property with name» and the sales volume of such properties is about 34%. The most popular property among non-residents is 3+1 apartments with three bedrooms.

Their prices have shown the highest growth - 0.79%. The average real estate price growth has been established as 0.48%. And the apartment prices in the Asian part of the city are more expensive (0.57%) than in the European (0.42%).

Foreigners prefer to buy already constructed housing options. Their number of sales is about 84% from all kinds of property sales. The houses under construction are only 16 percent.

40% of buyers got mortgage loans to pay for their new housing, 32% of foreigners paid with securities and only 28% used their own funds.

 

World rating of the most popular tourist cities: Istanbul and Antalya are among the Top-20

The Euromonitor company releases the annual Top-100 of the city destinations ranking in terms of international tourist arrivals.

The ranking is usually based on the arrival statistics of different cities. The company uses the data for two years to see the growth rate.

Based on the results of the previous two years, the first three places went to Hong Kong, London, and Singapore. The Turkish cities got a bit lower positions. Istanbul, the most popular Turkish destination among tourists, got the ninth place  while last year it was only on the 11th place.  The experts explained such result by the fact that Istanbul as an economic centre attracts a lot of business tourists.

Antalya, the second popular tourist destination, is only two positions behind Istanbul. One more Turkish city Artvin which is located on the Black Sea coast is at the bottom of the Top-100.

How will the Turkish real estate business sector develop?

The chairman of the Makro Construction Ercan Uyan stated that this business sector will continue growing. According to the experts, there are no obvious reasons to talk about the crisis. The property demand in Turkey is still growing and this tendency will be continued. The real estate sales statistics in January proves this statement. The number of apartments sales in Turkey has increased by 1.9% in comparison to January, 2015. And the highest demand has been for high-quality and luxury properties.

The experts say that the constant property price growth can show that there aren't any problems in the real estate market. The increase of land plot cost, interest rates and the constant growth of Turkish economy are noted as the possible reasons of the property price growth. The specialists of the Turkish National Bank mentioned the improvement of the construction quality, the use of modern technologies and materials, the hedonistic factor, and the interior furnishing as the reasons of the property price increase.

New video surveillance centre in Antalya

The police department decided to create a video surveillance centre in Antalya.

The video surveillance network connects all areas of the province. The security cameras were installed in the most public places: near schools and shopping centres, in the parks and on the roads. 82 cameras were installed in Alanya.

The modern cameras provide high-quality images in any season and any weather conditions.

The policy and local authorities hope that the cameras will allow to identify the committed offences, traffic violations, and etc.

 Visa-free regime between Turkey and the EU countries

A press conference dedicated to the issue of visa-free regime between Turkey and the EU countries took place in Istanbul. The chairman of the European Union delegation at this conference was Hansjorg Haber. He presented the information on the realisation of the visa-free project.

He also stated that there were 72 problems to fix before launching free movement of Turkish residents across the European borders. According to Hansjorg Haber, only half of the problems have been already resolved. The rest of them will be resolved in the nearest future so that the Turkish residents will be able to go abroad without visa in the autumn according to the set road map. It should be noted that  the road map will be available only for those residents who have new passports.


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