Real estate prices in Turkey increased due to construction costs.
A new system announced as a result of new evaluations made about the construction and real estate sectors that will reduce housing prices.
Pandemic conditions have brought intensive changes in the Turkey real estate market. At the beginning of these changes, there was an increase in real estate prices in summer areas.
Summer areas are no longer livable places just for three to four months of the year. There is a great demand in the summer area for housing in 12 months of the year.
Bodrum, one of the leading tourism centers in Turkey, was also affected by this development. Depreciation periods, defined as the rental payback period of houses in Bodrum, have shortened considerably.
Bodrum, which is one of the tourism centers in Turkey, was affected by this progress. Depreciation periods, defined as the rental recycling period of houses in Bodrum, have shortened considerably.
It is seen that the rents in Bodrum have increased by 40% in the last year. Those who buy and invest in a house in Bodrum can obtain their return on investment in 8 years with the rental income of the house. In Istanbul, this period reaches 25 years.
Last year in Bodrum the rent of a 3 bedroom house was 60 thousand Turkish Liras per month. This year, the rent amount increased to 85 thousand Turkish Liras per month. There are homeowners who want even more rent.
Some housing projects constructed in Turkey are trying to apply the Industrial Revolution to the housing and construction sector. It is planned to move the residences to the production sites in the factory. Research and Development studies in this field have been continuing for 4 years without interruption.
In this way, the production costs will be lower and nature-friendly houses will be built. When this system is activated, housing prices will decrease by 50% in overseas projects.
In Turkey, if the conditions are met, the prices of the houses built with the same system will be reduced by 30%. In some projects in Cekmekoy, the construction of the blocks was done in this way. This working system will be applied first in the productions to be made abroad and then in the projects in Turkey 2 years later.