- Oct 23, 2019
- Reading time: 2 minutes
Volkswagen's Manisa investment to double housing prices
Görkem Öğüt, Co-Founder and CEO of technology-oriented real estate valuation platform Indexa.com, will employ 5,000 employees and produce 300,000 vehicles annually at the factory in Manisa, which Volkswagen will build with a $1.3 billion investment. facility will create a serious economic activity in the region, he said. The huge investment will multiply existing real estate prices, he said.
The officialization of Wolkswagen's attempt to build a high-capacity factory in Manisa had an impact on housing and land prices in the region before the foundations of the facility were laid, said Görkem Öğüt, Co-Founder and CEO of The Index. According to estimates, 5,000 employees will receive a high salary compared to the conditions of the region, the real estate market is already stirring up the advice, the factory until the commissioning of the house prices and rental fees will bear the time he said they had foreseen.
Average house price £224,250
According to the Endeksa data, the average values of housing throughout Manisa is 125 m², minimum and maximum unit prices are 1,221-2,658 TL/m², the house price is TL 224,250, the return time is 19 years and the marketing time is 69 days. Looking at the distribution by housing type, the gross area of 1+1's with average values is 65 m², the price per unit square meter is TL 2,207, the sale price is TL 143,455, the return period is 14 years; Gross area of 2+1's 100 m², unit price 1,782 TL, sale price 178,200 TL, return time 19 years; Gross area of 3+1's 135 m², unit price 1,773 TL, sale price 239.355 TL, return time 22 years; 4+1's gross area 196 m², unit sales price 1,766 TL, sale price 346,136 TL, return time 21 years.
Square meter rental value 8.45 TL
According to current data from Indexa, the average gross area of rental houses throughout Manisa is TL 110 m² and the rent per unit square meter is TL 8.45. Looking at the distribution according to the type of housing 1+1's 65 m² with average values, 14.08 TL per unit square meter rent, 915 TL rent; 2+1's 100 m², unit square meter rent 8.49 TL, rent price 849 TL; 3+1's 130 m², unit square meter rent 7.24 TL, rent price 941 TL; 4+1's are 190 m², unit square meter rent is TL 7.68 and the rental price is TL 1,459.
According to the Endeksa data, house prices in Manisa have already lost 0.61% in the last year. In the next 6 months, house prices will increase by 1.57% across the province. Looking at the annual averages, as of the end of September 2019, the districts where the houses in Manisa have gained the most value are Soma, Turgutlu, Kirkwood, Shehzadeler and Akhisar, respectively. When the return times are taken into account, ahmetli, Gördes, Kyrgyz, Yunus Emre and Kula are the fastest earners according to the Endeksa data.