Lands Hits A Record In Sales

Lands Hits A Record In Sales

Land sales in Türkiye have recently increased, achieving a record

25th August 2023

One million 617 thousand and 812 properties were traded across the country in the period from January to July. Of these sales, 675 thousand and 327 properties were sold, and 942 thousand and 485 of them were non-residential properties, most of which were land and fields.

Based on the January-July periods, non-residential property sales were 912,448 in 2022, 742,583 in 2021, 608,353 in 2020, and 525,740 in 2019.

Compared to the same period of the previous year, there was a decrease of 6.6% in total sales, a decrease of 17.7% in residential properties, and an increase of 3.3% in non-residential properties.
Non-residential sales accounted for 58.3% of total sales for the first time.
The total number of properties sold in Turkey in the first seven months approached 1.7 million, approximately 59% of this consists of non-residential sales such as commercial, land and farm sales.
This rate is a historic record, reversing the situation from three to four years ago.
As the increase in housing prices, the decline in accessibility, especially in second-hand housing, the rise in loan costs, and the continuing interest in land and fields after the earthquake and Covid-19, have achieved this record.

And with the increase in demand outside housing, especially in the big cities, towards neighboring cities, we can say that there are still good opportunities in the outskirts of Istanbul. As investors earn an average of 1-2 million liras.

The Turkish government and real estate companies are working to expand investment trends in lands and develop their own projects, in addition to working on establishing new housing projects and securing a strong infrastructure in those areas.

Another reason for the high rate of land sales is people's escape from inflation rates and the search for an alternative other than housing to preserve their savings through the purchase of land and fields.
It is expected that these percentages will continue to rise, which makes it a golden opportunity for investment now and will increase in prosperity.

Edited by: Aldar Real Estate ©
Source: Anadolu Agency