Intermark experts have analyzed the real estate market in Turkey, and the prognosis is clear: there is no expectation of a decline in real estate prices in the coming year. The annual housing demand in the country stands at an impressive 1 million units, while only 642 thousand units were produced last year. This significant gap between supply and demand is a driving force behind the steady increase in real estate prices.
Additionally, the rising costs of building materials and a shortage of skilled labor, particularly qualified builders, contribute to this trend.
For over two years, Turkey has maintained its position as the world leader in rising real estate prices. As an example, the average rental price in Istanbul has surged to 17,000 Turkish liras, compared to just over 10,000 liras a year ago.
Investing in real estate in Turkey offers the opportunity to secure a stable source of passive income, with rental yields averaging around 7% per annum in foreign currency.
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