Our Turkish expert claims that due to the fall of the lira, the secondary market has slipped in price.
Tourists missed Turkey. But they will come here only when the borders will be opened on both sides. In general, there are already concessions in the country, for example, most are free to walk.
But for certain categories of citizens, in particular for people over 65, bans remain.
Comparing the pre - and post-crisis situations, I can say that before quarantine, applications from Russian-speaking clients were standard. Now, most people dream of some incredible price cuts. People think that the Turkish real estate market is very dependent on tourism, but this is not entirely true.
When I talk about inappropriate requests, I mean, for example, an application for a villa in Kemer the price is € 20-25 thousand. I don’t even open such letters; therefore, I can’t buy anything like this at this price.
Our clients, who once bought a Turkish apartment and have already used it, are now changing their preferences. They want a villa or house with land, and not for rent, but the most part for themselves.
In the primary real estate market, construction did not stop at all, even in the days of total bans. Everything went and goes, as before. Therefore, prices stay at the same level, not dropping, but not rising. On the "secondary" we can talk about a slight decrease in prices, due to the fall of the lira. Therefore, if the seller initially exposed his property in national currency, then the cost of such an apartment will now be 10-15 % lower.
Very cheap objects in the secondary market should not be taken seriously. Looking at them through the eyes of an investor, I understand that this is not what I want to invest in. Everything needs to be watched live and not to make remote transactions with the secondary, even if the offer seems very attractive.
Also now we can talk about competition from the Turks from Ankara and Istanbul. Residents of cities are actively interested in resort apartments with large balconies and houses with their lands.
