Villa prices in Turkey rival those in Europe

The change in real estate buying standards in Turkey during the Corona period led to an increase in demand for residential properties in general and luxury villas in particular. As a result, there was a rise in villa prices in Turkey, sometimes surpassing villa prices in Europe.

Increased Demand Raises Villa Prices in Turkey

After the spread of the coronavirus, there was a significant shift in demand trends in Turkey's real estate market, which can be clearly seen in the residential property sector.

Now, those looking to buy a home are searching for healthy living conditions in their new residence, such as being in a complex or building that is not overcrowded, or even outside or on the outskirts of the city, with healthy standards like gardens and balconies that provide good ventilation.

With these changes, villas have emerged as one of the most important options sought by those wishing to acquire a home for living or investment. The Turkish real estate market has seen a significant increase in demand for villas for sale in Turkey, which has led to a substantial increase in their prices.

Villa Prices in Turkey Rival Those in Europe

According to a report published by the Turkish real estate newspaper (Emlak Gündemi): After the lockdown and restriction decisions at the start of the coronavirus pandemic, the real estate market saw a significant increase in demand for villas, especially those located on the outskirts and in rural areas of cities.

There was also increased demand for seafront villas, and people, especially in major cities, began searching for suitable villas on the outskirts, in rural areas, and in tourist regions, either through real estate agencies and companies or by searching online.

Through Imtilak Real Estate, you can own luxury villas according to the specifications and standards you require, suitable for healthy conditions that prevent the spread of the coronavirus and ensure a safe holiday away from all health risks.

The demand for these villas has been increasing month after month, leading to a significant gap between demand and the available villa inventory, which has resulted in a large and unprecedented rise in villa prices, especially for independent villas near beaches in tourist areas.

The average price of an independent villa with a total area (including its garden) of 400 square meters ranged between 1.75 million Turkish lira and 6 million Turkish lira.

The average luxury villa prices in Turkey matched those in world-renowned cities, such as Barcelona, Spain, where the average price of a 400 square meter villa is between 1.5 million and 8 million Turkish lira. Likewise, the average price for the same villa in Cannes, France, ranges between 1.5 million and 15 million Turkish lira.

In this context, Mr. Zulfiqar Soy Fural, President of the Istanbul Association of Real Estate Consultants, said in a statement published in the aforementioned report:

"After the changes caused by the spread of the coronavirus, we witnessed significant demand from the wealthy in major cities, especially Istanbul, for villas in tourist areas. This has led to a substantial increase in prices, to the point that villa prices in many European cities have been matched or even surpassed."

Read also: Villa prices in Turkey

Edited by: Imtilak Real Estate©

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