Record-breaking inflation in Turkey / Is investment in housing profitable?
According to Tejarat News, according to Turkey’s official statistics published on Monday, the country’s inflation rate reached 78.6% in June, which is the highest level since 1998, i.e. in the past 24 years.
What is the consequence of this increase in inflation in Turkey for real estate investors in Turkey?
In a conversation with TejaratNews, financial market expert Barzoh Haqshanas said: Economic problems in Turkey are moving behind Iran, but the issue is that inflation increases the price of housing, which means that the investor will finally receive his return.
He continued: Currently, those who have invested in Turkey’s housing sector have received their profits due to the increase in inflation and the consequent increase in housing prices. In general, the weakening of the value of the lira is not dangerous for investors.
This expert also said about investing in Turkey: Those who intend to invest in the housing market will get the same returns as buying housing in Turkey by investing in Iran, and they do not need to pay money transfer fees.
What is the price of a house in Istanbul?
According to Central Bank, the average price per square meter of a residential unit in Tehran has reached 39 million and 400 thousand tomans. This means that the purchase of a 50-meter residential unit in an average area of Tehran is about two billion tomans. On the other hand, people have to spend about three billion tomans to buy a 70-meter unit, which is a reasonable size for a family.
Before this, a report was published that showed that the price of housing in the southern areas of Tehran is the same as the price of a house in the heart of Los Angeles.
But house price In a city like Istanbul How much is? The average price per square meter of a house in a city like Istanbul is about 15 thousand liras. At today’s price of lira, it reaches 37 million tomans per meter. Meanwhile, the average price per square meter of a house in Tehran is 40 million tomans. Of course, this is the minimum The price of buying real estate in Istanbul and according to some sites, the price of housing in Istanbul sometimes reaches more than 80 million tomans per meter.
According to reports published by various sites, the price of a house in Istanbul starts from 900 thousand liras, which is about two billion tomans at today’s lira rate.
Why do Iranians buy houses in Turkey?
Turkey has not had favorable conditions in recent months. The value of the lira has fallen significantly against the dollar and the inflation rate has reached an unprecedented level and is even higher than the current inflation in Iran. However, it seems that many prefer to take their capital to Turkey instead of Iran.
Many believe that what makes people invest in Turkey is the economic conditions and the uncertain future of Iran’s economy. Many do not know the direction of Iran’s economy and prefer to take their capital to another country.