Property prices in Türkiye have fallen by close to 30 %, and the continuing decline in the Turkish currency's exchange rate
against the dollar and foreign currencies, together with higher interest rates at Turkish banks, has pushed Turks away from
buying property and towards saving in banks or in hard currency, waiting until
the Turkish lira recovers and interest rates on bank loans come down so that they can return to investing in property.
This has created a gap in the Turkish property market as the difference between supply and demand widens, with
hundreds of projects and properties waiting for their new owners. Figures indicate that there are more
than 833 thousand surplus properties currently on the market in Türkiye ( a property sold for the first time – from the developer )
and close to 40% of them are in Istanbul alone.
The strong player in the Turkish property market at the moment is the foreign buyer, because they bring hard
currency into the country and secure a high exchange rate compared with the rate on the Turkish market over
the past few years, which allows them to buy property in Türkiye at very tempting prices.
Because construction companies need to sell and free up cash, they are now offering notable discounts to foreign
investors with easy payment terms, and this is exactly what we call an opportunity in the Turkish property market, a rare chance
to buy property in Türkiye at excellent prices that earn you a return as well as giving you the right home to live in and relax in.
If you work with an experienced property adviser and are guided properly, you are bound to benefit from
the opportunities on offer. Add to that the considerable advantages that owning property in Türkiye brings, such as obtaining
property residence or Turkish citizenship through property ownership.