The growing interest in building small houses and escaping from cities has caused prices to rise 178% in provinces with highest demand.
The pandemic has triggered the cost of land for housing in Turkey due to the huge increase in demand for the construction of single-family houses, a phenomenon caused by fear of future confinement due to a new pandemic, but which is adding to the growth of the demand for low flats and chalets that had already been noted in the last two years due to the last earthquakes.
Experts point out that the demand is such that sales of plots in Turkey for building already exceed the number of house sales: in the first 9 months of 2021 alone there were 950,000 sales of land throughout the country, compared to 920,000 sales of households.
Demand is especially high in İzmir and Muğla provinces on the southern Aegean coast, as well as in the north-western provinces of Çanakkale and Balıkesir (North Aegean), and in Antalya and Mersin, two provinces on the Mediterranean coast.
In the provinces with the highest demand, land prices have grown by up to 178%
In İzmir, the districts where there is a greater interest from buyers to acquire land are those of Seferihisar, Urla and Dikili; Datça, Bodrum and Marmaris are the most in demand in Muğla; the districts of Geyikli (Çanakkale), Edremit (Balıkesir), Kaş (Antalya) and Anamur (Mersin) close the list.
“Some buy to move to these lands and escape from cities, others buy as an investment,” Sertan Ünal, manager of a real estate agency operating in Turkey, explained in statements to Turkish media. This growing interest from buyers is consequently causing prices per square metre of plot to rise as well, especially in the provinces where there is more demand.
Certainly, concern about the pandemic has ended up triggering the price of land for homes in Turkey; for example, the price per square metre of land to build in İzmir province has skyrocketed to 178% in the last two years, while in Muğla costs have grown by 143%; prices have also increased in Çanakkale (131%), Mersin (105%), Balıkesir (91%) and Antalya (87%).
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When Monica finished her business degree, she had the idea to celebrate it travelling: that’s how she ended up visiting Turkey, and she liked it so much… that she decided to stay and live there! And she is still there, reporting from the city of Bursa on the latest news about the interesting Turkish economy.