The desire to live in modern quality buildings with security and rich social facilities, is rising with every passing day in Turkey. With the population rising every year, the increase in the interest of foreign investors in Turkey and the existence of around 6.5 million decayed housing stock in need of urban transformation, the demand for branded real estate is increasing. The desire of people to live in buildings which are secure against earthquakes, and their tendency towards complexes with social facilities, are triggering the demand for quality properties in Ankara. The development in the real estate market is also bringing some regions to the fore.
The development of the mass transport lines and the emergence of large scale projects in the regions are the most important factors which increase the interest and population in the said regions. When all of these factors are taken into account, it is salient that the regions which have been rising in Ankara in the recent period are Gölbaşı İncek, Keçiören, Oran, and the Eskişehir and Konya road regions. TSKB Gayrimenkul Değerleme (Real Estate Appraisal) have studied the reasons for the increase in prices in these regions, as well as their premium performances and expectations for the next three years.
The region providing the highest profit in Ankara
At the moment, the İncek axis is the most popular place in Ankara, due to the undeniable level of the projects which have been, and are to be built in the region in the recent times. While the square meter prices of the residential projects in the region in 2010 were around 1000 – 1500 Liras, this figure rose to between 1500 – 3300 Liras in 2013. It can be seen now in 2016, that the square meter prices are ranging from 2 thousand 500 – 5 thousand 500 Liras. This shows that investors have profited by an average of 66 percent in the last three years. What is more, with the increase in the stock of quality buildings in the next three years, prices are expected to rise even more.
The values of the apartments have risen by 38 percent
Keçiören is one of the districts which have come to the fore as a result of the urban transformation activities of the Ankara Metropolitan Municipality, in the last few years. Property prices were between 600-800 Liras per square meter previously, and reached 1000 – 1300 Liras in 2013. In the last 3 years, there has been a further increase of 38 percent, and square meter prices are now in the 1250 – 1800 Lira range. The value of the region will continue to rise due to the rise in the stock of quality buildings, its close proximity to the airport and the development of the transport infrastructure.
Prices have seen 9 thousand Liras in Oran
The Oran neighborhood and the surrounding areas are also among the most popular and in demand locations of Ankara too. The region mostly plays host to the high income group, and many construction companies are building a large number of different projects, from luxury residences to offices, and from shopping centers to hotels. Residential property square meter prices in the region in 2010 were in the 2 – 6 thousand Lira range, rising to the 3 thousand – 7 thousand 500 Lira range in 2013. This figure has increased by a further 23 percent in the last 3 years, and is now between 4 – 9 thousand Liras. The region possesses potential for profit due to its location and transport infrastructure.
The direction of prices is upwards
The roads to Eskişehir and Konya have become the most important axes of Ankara in the last 5 years. There are a large number of public authorities, universities and hospitals on and around the Eskişehir road, making it a preferred region. Residential property square meter prices in the region were between 2 thousand 500 – 8 thousand Liras in 2010, rising to 3 thousand 500 – 8 thousand 500 Liras in 2013. There has been a further 20 percent increase in the last 3 years, taking these figures to between 4 thousand 750 – 10 thousand Liras. With the metro network reaching the region and the Commercial Center of Ankara being brought to life in the region, it is expected that prices will continue to rise.