Factors that determine the price of real estate in Turkey
Investors in the real estate market in Turkey may find a difference in prices. They may find two properties in the same complex with two different prices. There are factors that determine the price of real estate in Turkey as we will see in this article from Ebla Real Estate.
Factors that determine the price of real estate in Turkey
Location of the property in Turkey:
The location of real estate in Turkey plays a major role and directly affects the value of the property. For example, the properties located in the heart of the city are priced higher than those located in the suburbs. Moreover, the prices of upper apartments with sea views or landscapes are higher compared to apartments on lower floors, which are usually of lower prices.
It is worth noting that among the features of the vital location, we mention:
The abundance of transportation, the availability of service centers such as schools and hospitals and the proximity to markets and entertainment centers.
Type of the property in Turkey:
Real estate prices vary according to their type. There are many types of real estate including commercial real estate, residential real estate and others. Thus, the price of buying an apartment in Turkey is definitely different from the price of buying agricultural land, a villa, or a store.
In addition, the area of the property affects the price; The larger property, the higher the price will be.
The construction lifespan of the property:
The age of the building is among the factors that determine the price of real estate in Turkey. If the property is under construction, it is usually expected to be relatively low, leaving a better margin for a good return on investment compared to the ready-to-live property. Moreover, new buildings have a higher price compared to the old ones, especially if the property is within modern residential or commercial compounds.
Interior decorations:
Finishes and interior decorations of the property affect the price of the property in Turkey. Using the latest techniques and the highest possible specifications in addition to modern decorations increase the value and price of the property in Turkey.
Exterior finishes:
The quality of the property’s exterior finishes plays a role in determining the price. Better materials during the finishing, the higher the price will be.
Social and service facilities of the complex:
The services and facilities of residential complexes in Turkey are also among the most prominent factors that determine the price of real estate in Turkey. Among the services that increase the value of the property are.. Security systems, gyms, swimming pools, gardens, parking parks, cafes and others.
View of the property:
There are properties with sea views, mountain views, city views or other ones. Undoubtedly, the most charming view, the high value will be.
Edited by: Ebla Group Real Estate
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