Real estate investors eye Thrace, Black Sea region

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...