Post-Pandemic Turkey Real Estate Sector : Investor’s Perspective

The COVID-19 pandemic had a vital effect on the real estate market of many countries around the globe. From slowing down growth and opening new investment opportunities. In this article, we will take a specific look at how it impacted Turkey’s real residential market. Mainly focusing on emerging residential trends and potential growth areas

Building Stability

Turkey’s real estate market briefly slowed down during the pandemic’s early stages as lockdown measures and general economic unease spread. Demand fell as a result of the real estate unpredictability, especially in the residential market where purchasers preferred to wait.

It is important, though, that the Turkish government moved quickly to put policies into place to boost the real estate market. This included perks like lowered interest rates on projects, tax breaks, and credit facilities. These steps assist in reducing some of the pandemic’s damaging impacts on the real estate market in Turkey.

Tourism Resurgence

Due to travel limitations and security worries, the tourism industry in Turkey, which is a major driver of its real estate market, took a considerable hit during the pandemic. However, there are signs of a slow rebound in the tourism and real estate housing sector with the global vaccination and relaxation of travel restrictions.

Investors now have the chance to think about purchasing real estate in well-known tourist locations like Istanbul, Antalya, and Bodrum. Additionally, you should invest in real estate since there is still hope for both long-term real estate projects and the possibility of short-term vacation property rentals.

Global Investor Appeal

The demand for larger projects in Istanbul with outside spaces was noticeably on the rise as the epidemic highlighted the value of comfortable and roomy living properties. A rising desire for projects with suburban living, where people could enjoy more space. Moreover, they also desired a lower population density, which was what sparked this movement.

In addition, there was still a strong demand for houses among overseas investors, particularly those from the Middle East. Due to its comparatively low pricing, energetic cities, and great long-term potential, Turkish real estate presented appealing investment opportunities.

Investment Magnet

By initiating massive projects with the goals of enhancing infrastructure and luring foreign investment, the Turkish government has continuously demonstrated its dedication to the real estate market. Property values may rise and investors aiming for long-term gains may be drawn to projects. Some of these are Istanbul New Airport, the Istanbul Canal, and the ongoing reconstruction initiatives.

Green Building on the Rise

Disruptions brought on by the pandemic have raised awareness of the importance of resilient and sustainable real estate residential and commercial projects. As a result, financiers and real estate developers are putting more of an emphasis on eco-friendly construction methods. Furthermore, they are also implementing smart technologies into real estate developments. 

As consumers and real estate developers in Istanbul prioritize sustainability and cost-effectiveness, properties with eco-friendly features, energy-efficient architecture, and smart infrastructure are projected to become more popular projects and produce long-term advantages.

Commercial Real Estate Challenges

However, the commercial real estate market in Istanbul experienced more difficulties during the pandemic. The need for commercial properties like office space was hurt by the move toward remote work and the closure of numerous commercial firms. The outcome was a period of stagnation in the commercial real estate market, with rising vacancy rates in some regions.

In conclusion, the post-pandemic Turkey real estate market presents diverse real estate investment opportunities. The government’s swift policy interventions have aided the real estate market‘s recovery. Tourist destinations, larger projects, and sustainable real estate developers are emerging trends that offer attractive prospects. However, cautious research and strategic decision-making are still important. A real estate agent can help with that process.