Rising Trend: People Unable to Buy Homes Invest in Land Instead
High Demand for Land in Turkey Following Earthquakes and Pandemic
After the earthquakes that struck Turkey in February, citizens are on the lookout for solid housing options. There is a steadily increasing demand for detached buildings, but at an even more rapid pace is the demand for land.
The trend of increased land demand began during the pandemic. Those who desire to purchase land are primarily choosing to buy in the surrounding provinces of larger cities. Real Estate Specialist Ufuk Tetik stated that provinces surrounding the large cities are experiencing a boom in land investments. People are now questioning the safety of their current living situation and are willing to build their own safer homes if they have the means to do so.
During the pandemic, residents of larger cities began viewing land and its surroundings as a viable alternative living space. Cities such as Thrace, Tekirdağ, and Kırklareli saw a sharp uptick in demand for land after the earthquake. The Çanakkale region is also experiencing a surge in interest. Land demands, in particular, are at their peak for these areas.
Overall, the events of the past year have prompted many citizens of Turkey to look for safer housing options and consider purchasing land. It remains to be seen whether this trend will continue, but for now, it appears that land will remain a hot commodity.
