Real estate values in Turkey are steadily on the rise
Real estate values in Turkey are steadily on the rise
02.08.2021
2390
0
0
The popularity of Turkish real estate affects prices increase. Over the past year, an increase in demand led to an increase in prices for primary and secondary housing by almost 30%. The changes also affected the lease. The Turkish authorities have set the maximum possible increase in rent. As of July, it should not exceed 14.55%. However, the requirement applies only to renewable contracts. If the property is rented out to a new tenant, no restrictions apply. This allowed the owners to increase their prices at a record. The increase was especially evident in the central regions of the country and resort areas. The rental price in a number of cities has increased up to 70%.
Turkey is introducing a mandatory requirement for all property tenants to make rent payments exclusively through banks or post offices (PTT), regardless of the amount. This regulation is being drafted by the Ministry of Finance and the country's Tax Administration.
Violation of this regulation will...
Due to the decline in the construction of new real estate in Turkey and the global pandemic, buyers found themselves in a situation of limited choice. Apartments in new buildings are still popular, but their range is not able to fully satisfy all the wishes of buyers. In June, according to the sales...
Unstable economic situation in the world has had a direct impact on real estate mortgage lending. And although the rate on property loans in Turkey is quite low, an increasing number of real estate buyers prefer to pay cash for the apartments purchase. In June, mortgage transactions accounted...