Real Estate

The most profitable cities in housing investment

The results of the research, which concerns citizens who want to buy a house, have been published. Ankara and Sanliurfa ranked first among the provinces with the fastest return on housing investment in Turkey, with an average of 18 years, followed by Gaziantep, Ankara and Sanliurfa with an average amortization period of 18 years among the 30 provinces with the highest sales. Here are the details of the curious research results…

While the interest in housing investment continues, the most profitable cities for investment in Turkey are listed. While 359 thousand houses were sold in the first 5 months of the year in our country, the house prices also recorded a valuation exceeding 31% in the last 1 year period.

According to the research of Endeksa in the 30 provinces with the highest sales in Turkey, interest in housing investment continues. While approximately 359 thousand houses were sold throughout the country in the first 5 months, prices increased by 31.7% in the last year.

While the average residential square meter sales price in Turkey is ₺3 thousand 113, the average housing price is ₺404 thousand 690, it is stated that the return period is 20 years and the number of residences waiting to be sold is 995 thousand 463.

Ankara and Sanliurfa were determined as the cities with the shortest average return on investment (amortization) of 18 years among the 30 provinces with the highest sales.

The time measured as 19 years in Gaziantep, 20 in Antalya, Mersin, Tekirdag, Eskisehir, Diyarbakir and Yalova, 21 in Bursa, Adana, Sakarya, Kahramanmaras and Elazig, 22 in Istanbul, Konya, Hatay, Samsun and Canakkale. It was recorded as 23 years in Izmir, Kocaeli, Denizli and Malatya.

While Mugla had the longest amortization period with 31 years, Mugla was followed by Kayseri with 28 years, Trabzon and Aydin with 27 years, Balikesir with 26 years, Ordu with 25 years and Manisa with 24 years.

THE HIGHEST SQUARE METER VALUE IS IN MUGLA AND ISTANBUL

Mugla was at the top of the list of average residential sales square meters among the provinces in question, with ₺7,771.

Mugla was followed by Istanbul with ₺4 thousand 587, Aydin with ₺4 thousand 169, Izmir with ₺4 thousand 142, Antalya with ₺3 thousand 829, Canakkale with ₺3 thousand 423. Balikesir with ₺3 thousand 343, Denizli and Yalova with ₺2 thousand 862, Gaziantep with ₺2 thousand 837 and Bursa with ₺2 thousand 786.

Average sales value is ₺2 thousand 740 in Manisa, ₺2 thousand 725 in Eskisehir, ₺2 thousand 585 in Kocaeli, ₺2 thousand 579 in Sakarya, ₺2 thousand 525 in Samsun, ₺2 thousand 505 in Adana, ₺2,435 in Ordu, ₺2 thousand 399 in Trabzon, ₺2 thousand 398 in Mersin, ₺2 thousand 394 in Ankara and ₺2 thousand 269 in Kahramanmaras.

While the city with the lowest average sales value among the mentioned provinces was determined as Sanliurfa with ₺1,851, Sanliurfa was followed by Hatay with ₺1,989, Kayseri with ₺2 thousand 38, and Malatya with ₺2 thousand 55. Elazig with ₺2 thousand 74, Konya with ₺2 thousand 136, Diyarbakir with ₺2 thousand 150 and Tekirdag with ₺2 thousand 185.

Experts said that with the global epidemic, significant changes were seen in the real estate sector, and although there was a decline the first time, sales increased very rapidly in the summer months due to the campaign effect.

While it was stated that the demand for larger, garden and balcony, even detached houses increased, there was a significant increase in the demand for summer residences with the widespread use of remote working.

It is stated that Istanbul leads with 269 thousand units in terms of the number of residences waiting to be sold, followed by Ankara with 139 thousand units and İzmir with 85 thousand units.

Source: Sabah / Translated by Irem Yildiz

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