Analysis of maintenance and management costs of real estate in Bursa
Analysis of maintenance and management costs of real estate in Bursa. Investing in real estate in Bursa, Turkey, entails ongoing maintenance and management costs that are crucial for preserving property value. Therefore, in this article from Ebla Real Estate, we will provide an analysis of maintenance and management costs of real estate in Bursa.
Analysis of maintenance and management costs of real estate in Bursa by type:
Property management and maintenance costs vary according to their type as follows:
Apartments and residential houses:
On average, maintenance and management costs for residential properties in Bursa, including apartments, range between 1% and 2% of the property value annually and are generally less expensive than other types of properties.
Commercial properties:
Maintenance and management costs for commercial properties in Bursa are often higher than apartments and residential houses.. Ranging between 2% and 3% of the property value annually.
Tourist properties:
Maintenance and management costs for tourist properties in Bursa are generally higher than other types.. Ranging between 3% and 5% of the property value annually.
Analysis of maintenance and management costs of real estate in Bursa by location:
Central and Vital Locations:
The closer the property is to the center and public facilities, the higher its management and maintenance costs are, and vice versa.
Likewise, the expenses allocated for property management in vital and developing areas increase due to the high costs of services and maintenance in such areas.
Remote Locations:
The maintenance and management costs of properties in the suburbs and remote areas of Bursa are known to be lower than in central locations and urban renewal areas.
Analysis of maintenance and management costs of real estate in Bursa by construction year:
The age of the building plays an important role in determining the percentage of maintenance costs, as follows:
New Properties:
The maintenance and management costs of new properties in Bursa, such as apartments in modern residential complexes, are generally lower than those of old buildings, as the new property needs much less repairs and modifications than the old one.
Old Properties:
Generally, the maintenance and management costs of old properties in Bursa are higher than new properties, because they require many repairs and modifications that suit the current time.
Factors that contribute to determining the percentage of maintenance and management costs for real estate in Bursa:
There are many additional factors that affect the increase or decrease of maintenance and management costs, including:
- The abundance and diversity of basic services such as gardens, elevators and security equipment, require more costs than independent homes, for example.
- The presence of luxury services such as garden care, swimming pool maintenance and gyms.
- The size and area of the property.
- The type of energy and its costs.
- The quality of building materials.
Edited by: Ebla Group Real Estate
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