Value Change in the Last 1 Year 83% in Residential Zone Plants

According to the Endeksa data, the value change in the last 1 year in residential zoned plots throughout Turkey amounted to 83%. In the first 5 months of 2022, 1 million 271 thousand 971 real estate sales transactions in Turkey while taking place, plots account for 216 thousand 582 of these sales.

According to the Endeksa data, the average price per square meter of residential land in Turkey was 405 thousand TL/m2 in July, while the value change in the last 1 year was 83 percent. The average residential land price was 791 thousand 15 TL, while the provinces with the highest land prices were Istanbul, Izmir and Antalya. The average square meter sales price for residential land in Istanbul is 3 thousand 549 TL, in Izmir 2 thousand 602 TL, Antalya is 2 thousand 597 TL.

When housing prices rose, interest turned to the lands

Evaluating the data, Endeksa Co-Founder and General Manager Görkem Ögut said that the main reason for the increase in interest in the land is the very rise of housing prices, saying, “People have a presence in their hands as a The way you want to turn it into a valuable investment, but due to rising prices, this situation may not always apply to housing. Therefore, the citizen is turning to the plot with more attainable costs than housing. The second reason is that due to the pandemic, the increased demand for land purchases in areas close to metropolitan areas, especially in coastal areas.

There is a worldwide paradigm shift towards land purchase

Another reason that increased demand was that people started questioning life in the metropolitan city when we say quarantines and bans during the pandemic period. This situation also increased land purchases of land for land, especially in coastal areas. People who said to be intertwined with nature, let me touch the soil, began to use their savings on land and land. Although land purchases in our country do not affect much for now, today because of the climate crisis all over the world, land/land purchases are being made and migrations are taking place. So recently there is a worldwide paradigm shift towards land purchase of land. The plot today represents more than an investment tool for people.

Land sales will increase even more in 2022

This whole process is also reflected in the figures. Non-residential real estate sales (land, field, workplace, factory, office, warehouse, industrial site, etc.) in 2021 compared to the previous year, according to the data of the General Directorate of Land and Cadastre of TÜİK and General Directorate of Land and Cadastre increased 1 million came to the band 528 thousand. 722 thousand of these sales are field, 480 thousand - land. The sale of non-residential real estate surpassed residential sales for the first time in 2021. This is actually the most important indicator of the process. When we make a projection through 2021 data, we can predict that land sales will increase further in 2022.”