What is the best time to buy and the best time to sell a property in Turkey?
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What is the best time to buy and the best time to sell a property in Turkey?

Created: 2024-04-03 Modified: 2024-04-23 Views: 329 Luxury Signature Admin
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When looking at the real estate market in Turkey, we must take into consideration several factors that affect the best time to buy and sell. Among these factors are: economic changes, demand and supply for real estate, government legislation, new laws and amendments to existing regulations, in addition to political factors. In this article we take a look at some of the key factors that may influence your decision to buy and sell real estate in Turkey.

 

What is the best time to buy a property in Turkey?

  • Periods in which the real estate market witnesses a decline in prices:

When the real estate market sees a decline in prices, it may be a good time to buy. Real estate markets in Turkey can witness a decline in prices during several periods affected by multiple factors, including economic factors such as high inflation or low demand, and the weakness of the local currency can lead to a decline in purchasing power and thus reduce demand for real estate. Also, during economic downturns, real estate markets may be affected by a decline in prices.

Fluctuations in political and security conditions can affect economic stability and confidence in the real estate market. In situations of political unrest, demand for real estate may decline and prices may fall. Also, changes in real estate laws or taxes may lead to a decline in prices, especially if these changes negatively affect the ability of investors to purchase or invest in real estate.

Sometimes, the real estate market may witness an oversupply due to the intensive construction of new projects. This excess supply can lead to a decline in prices due to increased competition among available properties. Finally, the impact of international demand for real estate in Turkey can greatly affect prices. If Turkey sees a decline in demand from international investors, this could be reflected in real estate prices.

 

  • Periods in which the country witnesses strength in the local currency:

When the local currency is strong against foreign currencies, foreign investors can get better value when purchasing property in Turkey. When the price of the local currency increases against foreign currencies, foreign investors can have greater purchasing power in Turkey. This may lead to increased demand for real estate by foreign investors, and thus an increase in prices. Strengthening the local currency can increase the purchasing power of local citizens as well. This in turn stimulates demand for properties within the local market, leading to an increase in prices. Also, strength in the local currency can contribute to attracting more foreign direct investment into the country. This can lead to overall economic growth and an increase in demand for real estate.

 

  • Periods in which the country witnesses improvement in infrastructure:

When the government develops infrastructure in certain areas such as building highways, public transportation, and public facilities, these areas can become more attractive to investors and real estate buyers. For example, the real estate market is currently witnessing an increase in demand in specific areas of Istanbul, such as Kagithane, Bagcilar, and Bahcesehir, after the improvement of public transportation in those areas and the arrival of metro lines to those areas and their connection to the center of Istanbul.

Also, improvements in infrastructure attract new real estate investments to these areas. For example, real estate companies may invest in building new residential complexes in areas witnessing structural development, which enhances real estate activity in those areas. Development and urban renaissance can also improve the quality of living in the areas in question, attracting more residents and investors. Therefore, properties in those areas may witness an increase in demand and prices.

 

What is the best time to sell real estate in Turkey?

  • Periods in which the real estate market witnesses high demand:

When there is high demand for properties in a particular area, properties can fetch higher prices, making this a favorable period for selling. This includes periods of economic growth, where demand for real estate increases as a result of increased income and investments. Investors and individuals want to take advantage of economic opportunities and improve their financial standing by purchasing real estate. Also, when the country is in a period of political stability, the demand for real estate increases due to the confidence that is created in the market, as investors feel that investing in real estate in this period is a safe and reliable option. In addition, when a country witnesses significant foreign investment attraction, demand for real estate may increase from foreign investors looking for viable investment opportunities. High yields and confidence in the economy can be motivators for them to purchase real estate. Finally, when the government adopts encouraging policies such as real estate loan facilities, it may increase demand for real estate by individuals seeking to benefit from these facilities and investment opportunities.

 

  • Periods in which the market witnesses a rise in prices:

When prices rise in the real estate market due to increased demand or other factors, it can be a good time to sell for a profit.

 

  • Periods in which the market witnesses tightening of real estate laws:

When the government tightens real estate laws, the demand for real estate in the market may increase, which can lead to an increase in prices and make this a suitable period for sale. When the government tightens real estate laws, investors and buyers can look at the market with more confidence and stability. Tightening the laws means that there is a clearer and more organized legal framework, which makes investors feel that the market is safer for investment. Also, when real estate laws are tightened, legal risks related to real estate, such as problems related to ownership or real estate fraud, can decrease, and thus, investors feel confident in purchasing real estate and investing their money.

Frequently asked questions

What are the periods when the real estate market witnesses a decline in prices?

When the real estate market sees a decline in prices, it may be a good time to buy. Real estate markets in Turkey can witness a decline in prices during several periods affected by multiple factors, including economic factors such as high inflation or low demand, and the weakness of the local currency can lead to a decline in purchasing power and thus reduce demand for real estate. Also, during economic downturns, real estate markets may be affected by a decline in prices.

What are the periods when the real estate market experiences high demand?

When there is high demand for properties in a particular area, properties can fetch higher prices, making this a favorable period for selling. This includes periods of economic growth, where demand for real estate increases as a result of increased income and investments. Investors and individuals want to take advantage of economic opportunities and improve their financial standing by purchasing real estate.

What are the periods when the market experiences rising prices?

When prices rise in the real estate market due to increased demand or other factors, it can be a good time to sell for a profit.

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