Why has the construction cost increased?
Turkey has experienced a dramatic rise in construction costs over the past months. There are many reasons for these increases. The main reason is that there is now a high rate of inflation in the country, which is cause for concern. The price of energy has risen due to unprecedented volatility in FX and the war between Russia, Ukraine. These factors directly impact the economy. These factors have a direct impact on the production of agricultural and industrial goods as well as construction activities. According to the most recent data, Turkey’s construction costs increased by 105.73% in June 2022. However, residential construction costs in Turkey rose by 100.87% annually. In June 2017, the country’s Consumer Price Index (CPI), also increased by 138.31%.
Istanbul is Turkey’s Top Choice for Foreign Buyers
Istanbul is an historic city, situated at the crossroads between Asia and Europe. It is bordered to the north by Black Sea and to the south by Marmara Sea. This connects the Black Sea with the Mediterranean Sea. Foreign buyers will find it attractive to buy a property in this area.
Mild winter temperatures are common in the city, with temperatures averaging 26 degrees Celsius during the day and just a few degrees below at night. The Poyraz wind is a constant northeasterly wind that moderates the city’s climate. It keeps temperatures below 32 degrees Celsius. Additionally, the wind brings in very humid air from Black Sea to create muggy conditions which increase the temperature perception.
Istanbul is home to many historical and religious attractions. There are many famous mosques and monuments in Istanbul, including Topkapi Palace, Hagia Sophia, and Church of Holy Savior. The western border of the peninsula is marked by the Basilica Cistern, Theodosian walls and the Basilica Cistern.
Antalya is Turkey’s Top City for Foreign Buyers
Antalya has a long tourist season and a mild Mediterranean climate. It is accessible from many countries via a large international Airport. Antalya is a popular tourist destination and a great place to invest. The city is home to a wide range of languages and nationalities, making it an extremely diverse place.
Antalya’s property prices are relatively low when compared to other cities. A one-bedroom apartment in Antalya can be purchased for anywhere between 30,000 and 300,000 euros. Because the city is so popular with foreign buyers, properties can be quickly sold. If you aren’t planning to stay there for a long time, you can still sell your property.
Antalya’s Mediterranean climate means that the city experiences both hot summers as well as mild winters. These warm months offer plenty of outdoor activities. Trip Advisor ranked the city’s main beach as one of Turkey’s best. It also has a lively social scene. The area is home to many bars and clubs, as well as great beaches. The area also has a large shopping center with international brands.
Antalya offers many advantages to investors who are looking to buy property in Turkey. People from all walks of the globe flock to its cosmopolitan ambience. Antalya, unlike many Turkish cities, is more European than Turkish. Antalya, in addition to its main city, is home to several smaller towns and villages along the coast that are very popular among expatriates.