Why are Turkish Property Prices Climbing?

Several factors have contributed to the increase in Turkish property prices in recent years. Some of the main reasons include the following:

Strong economic growth: Turkey's economy has been growing steadily in recent years, contributing to the demand for housing and driving up property prices.

Investment from abroad: Turkey has seen an influx of foreign investment in recent years, which has boosted the demand for property and contributed to price increases.

Low-interest rates: The Turkish central bank has kept interest rates low in recent years, making borrowing cheaper and encouraging more people to invest in property.

Increasing urbanization: Turkey's population is becoming more urbanized, and this trend has increased demand for housing in cities, which has driven up property prices.

Government incentives: The Turkish government has implemented various incentives to encourage people to buy property, including tax breaks and low-interest mortgage rates. These incentives have increased demand and contributed to rising property prices.

It's worth noting that property prices can vary significantly depending on location, and fees may be higher in certain areas or for certain types of properties. It's always a good idea to research and consult with a real estate professional before making a property purchase in Turkey.