Property prices in Turkey in 2022 have witnessed a significant increase, this increase was obvious in the last three years, due to the changes that took place in the value of the Turkish lira against the dollar and other foreign currencies, which affected the prices of raw construction materials that are imported from outside Turkey.
The President of the Union of Civil Engineers, “Tahir Telioglu” confirmed that the rise in cement and iron prices has become a public issue and not an industrial issue, and concerning residential apartments, there were many factors affecting the prices of apartments in Turkey 2022 in particular.
According to the housing price index of the Central Bank of the Republic of Turkey for November 2021, property prices in Turkey increased by 50.5% compared to the previous year, while the construction cost index issued by the Turkish Statistical Institute in November 2021 amounted to 48.87% compared to the previous year.
This explains what the representatives of the construction industry said about the cost of producing housing has increased by 200% on an annual basis, in addition to stressing that home prices in Turkey will rise by at least 60% in late 2022.
According to these assurances regarding the increase in property prices by the end of this year,
is this the right time to buy a property in Turkey?
According to the continuous rise in property prices in Turkey in 2022, and the expected and even certain rise at the end of this year, we can say that this period is an excellent opportunity for investors wishing to buy a property in Turkey either for living or for investment.
Investors who decide to buy properties in Turkey now will avoid buying properties at the height of the price increase, the property will be benefited from when the prices are increased later by obtaining the profits when disposing of it by selling or renting it and so on.
Maximum Property provides you with many options and opportunities that guarantee you a unique investment opportunity. For more details about our various projects, you can contact us here.
