The Turkish real estate market has witnessed significant growth over the past few years, thanks to the strong economic performance of the Turkish state and its strategic location. Yalova is becoming an increasingly popular destination for both local and foreign real estate investors. In this article, Omran TRK aims to provide an overview of the real estate market this summer, with a special focus on Yalova, which is located next to Istanbul and overlooks the Sea of Marmara, where its strategic location, amazing natural beauty, and growing infrastructure have contributed to increasing its popularity. Between local and foreign investors.
The demand for residential real estate in Yalova is increasing, as many investors are looking to buy real estate for investment, recreation, and spending seasonal vacations there. The city has a group of luxury properties that meet Turkish real estate specifications, as the average price of a two-bedroom apartment in Yalova is about 750 thousand Turkish liras (about 85 thousand US dollars).
Among the most important factors that contribute to increasing the demand for purchasing residential real estate in Yalova are:
The city's proximity to Istanbul and Bursa, as investors search for real estate outside the city in green areas close to it. It is also easy to reach the city, and to enjoy amenities and relaxation away from the hustle and bustle of the city. Yalova also offers a more relaxed and affordable lifestyle compared to Istanbul making it an attractive option for those looking to escape the crowding and sound pollution of big cities.
A range of properties are available in Yalova, from apartments to villas to commercial properties. The most popular areas for real estate investment in Yalova include Çinarcik, Termal, Çiftlikköy and Kadıköy, which offer a combination of natural beauty and urban amenities.
In recent years, the Turkish government has also invested in Yalova's infrastructure, including the construction of a new highway and the expansion of the city's port, which has helped boost the local economy and increase demand for real estate.
Overall, Yalova's real estate market offers investors the opportunity to benefit from the city's growing popularity and its potential for future growth, making it an attractive destination for short- and long-term real estate investments.
Effects of the exchange rate on the Turkish real estate market
Real estate is considered one of the most important sectors of the Turkish economy, as it contributes significantly to the country's gross domestic product. The Turkish real estate market has witnessed a continuous increase in demand over the past decade, with local and foreign investors attracted to the country's growing economy and strategic location. However, like any market, Turkey's real estate market is not immune to fluctuations especially when it comes to currency exchange rates.
One of the main factors affecting the Turkish real estate market is the exchange rate of the Turkish lira against foreign currencies, especially the US dollar and the euro. When the lira is strong, a foreign buyer can buy property in Türkiye at a lower cost, which increases demand and raises prices. But when the lira is weak, some foreign buyers may refrain from investing in Turkish real estate, leading to lower demand and subsequent lower prices.
In addition, fluctuations in the exchange rate of the Turkish Lira may affect the profitability of real estate investments. For example, if a foreign investor buys a property in Turkey using his own currency when the lira is weak, and then the exchange rate rises, the value of his investment may decline. Likewise, if he takes out a loan in a foreign currency when the lira is weak and then the lira strengthens, the cost of his loan may increase. In one way or another, the exchange fluctuations of the Turkish lira have a significant impact on the real estate market in Turkey, affecting both demand and profitability.
Another factor affecting the Turkish real estate market is government policies and regulations. In recent years, the Turkish government has implemented various measures regarding foreign investment in the real estate sector, including raising the minimum investment required to obtain Turkish citizenship on the one hand and providing tax incentives to foreign buyers on the other hand. Some of these policies have helped increase demand in the market, especially investors from the Middle East and Gulf countries. Even the increase in the minimum investment required to obtain citizenship has produced positive results, as a large number of investors have rushed and invested to secure their chance to obtain citizenship, fearing that this limit will rise again.
However, the Turkish real estate market is not without challenges. One of the biggest problems facing the market is the increase in supply and demand, especially in major cities like Istanbul. This excess supply has led to an increase in prices and rental returns. Small and medium-sized cities, such as Yalova, face the same challenge, but to a less severe degree, due to the small size and the difference in the number of properties and sales rates in them in general.
In conclusion, the Turkish real estate market is a complex and dynamic sector that is affected by a variety of factors, including exchange rates, government policies, and supply and demand dynamics. While the market has witnessed significant growth over the past decade, there are also challenges that must be addressed in order to ensure its long-term sustainability.
As for encouraging investors and urging them to invest, we must mention that, regardless of what was mentioned previously, real estate investment still has a value that may last for generations, regardless of the market and its fluctuations. The value of this property is determined by its quality and strategic location, the quality of finishes and services in its location, its proximity to tourist attractions and its view of the sea or another charming view. These characteristics determine the value of the property and the residential unit. Regardless of the exchange rate at the time the investor purchases the property, and the fluctuation of the Turkish lira or not, these advantages remain what determines, in a global way, the true and aesthetic value of this property.
Omran Trk, a real estate investment company based in Yalova, provides the most luxurious and finest residential units, designed with features that suit everyone of all nationalities, with attention to the quality of finishes and adherence to safety standards and Turkish construction standards, with projects and residential complexes that have a charming view of the sea that contains all Luxury amenities, such as swimming pools, clubs, gardens, and shops, while providing protection, surveillance, and other basic services and exclusive features, providing discounts and facilities to its customers throughout the year to ensure that they receive the best service and the most proper price.