Real estate investors eye Thrace, Black Sea region
Duygu Erdoğan – ISTANBUL
The exorbitant increases in real estate sales prices and rents over the past three years have led to radical changes in the areas where people buy and rent for necessity. At the same time, for small investors, the high prices have led to a search for new regions. As a result, Thrace has had a clear advantage in the residential land purchase graph for the last three years. The Aegean and Black Sea regions are also considered to be the prominent centers of this trend.
The coronavirus pandemic situation was the first determinant of the residential relocation graph. Then, the rapidly rising prices started to determine the direction of housing buyers. The earthquakes of Feb. 6 in Kahramanmaraş were very effective in this choice. In the current period, while the price increases of houses for sale in Istanbul, Ankara and İzmir remained limited, the prices have doubled, even tripled, in the regions where new demand was created.
House sales in Türkiye increased by 32 percent in May compared to the previous month and decreased by 8 percent compared to the same month last year to 113,276. According to Endeksa’s data, the annual increase in the value of house sale prices in Türkiye as of May was 116 percent. The average selling price per square meter was 18,862 liras, the average house price was 2.45 million liras and the return on investment in housing was 16 years.
According to the April data of the House Price Index Report by the Central Bank of the Republic of Türkiye, the region comprising Zonguldak, Karabük and Bartın provinces ranked first with 147 percent in the ranking of places with the highest annual change. The Edirne, Kırklareli, Tekirdağ region followed with 143.4 percent, while the Çankırı, Kastamonu, Sinop region also stood out with an increase of 142.2 percent.
According to Endeksa data, Ordu draws attention when evaluating the top 30 provinces with the highest number of house sales in May. The value increase of house sales prices in Ordu was 124 percent, the average house square meter sales price was 14,000 liras, and the average house price was 1.8 million liras.
The highest increase in the value of houses for sale in Türkiye in the last year was experienced in Kırklareli with an increase of 172 percent, while the average price of houses for sale exceeded 1.85 million liras. Kırklareli was followed by Edirne, where the value of houses for sale increased by 160 percent and the average price of houses for sale was 2.1 million liras.
In addition to the Aegean coasts, which were favored by white-collar workers during the pandemic, many residential areas in the region now stand out in terms of new housing investments by middle-income people. In this respect, the districts in the North Aegean stand out, where the price increase has been more limited.
On the other hand, in Urla and Çeşme, where new investments have increased this year, the purchases of the upper income group have started to increase. In Antalya and Muğla, where prices in the coastal regions have doubled in the last three years, prices are expected to remain high as demand for these regions continues.
