Bursa is Preferred by Foreigners for Real Estate Investments
Bursa is the fourth biggest city of Turkey with more than 3 million population. The city started to attract the interest of foreign real estate investors at the last years. Making a name for itself with the price increase in houses for sale, Bursa is among the provinces closely followed by foreign investors. Bursa proves with statistics every year that it has an important place for the real estate market with all its values and advantages.
For foreigners who want to make their investments in the most accurate way, places to make housing investments in Bursa offer important opportunities. The fact that the city is close to Istanbul and important sea, air and road routes attracts the attention of foreign investors. In addition, the fourth largest growing population of the city of Bursa, which is based on population density of Turkey, the value of the land will be built housing and housing is increasing with each passing day.
Why Foreigners Prefer Bursa ?
Bursa, which is seen as an alternative to Istanbul by foreign investors and one of the important industrial cities from past to present, increases its value every day. The fact that Bursa is the fourth largest city of our country and its increasing population also increases the prices of Bursa land, house and real estate. Bursa, where foreign investors who think long-term also evaluate the land options, draws attention with its valued regions along the east and west sides of Uludağ. Bursa draws attention with its industry, urban transformation and transportation projects. Recently, new projects are being implemented in Bursa, which offers important opportunities for foreigners who want to invest in real estate. Bursa has become an intercity accessible city with the sea bus, seaplane and helicopter flights launched between Bursa and İstanbul. Turkey’s direct longest underground railway provides easy access to almost every district of the city of Bursa in line with the center. With these features, Bursa is one of the cities preferred by foreigners.
According to the information obtained, at the end of November 2020, the average square meter sales price of the land in Bursa is 752 TL, the average rent is 1,310 TL, the average housing sales price is 320,000 TL and the return time of the housing investment is 20 years. Considering the annual averages, it is seen that the most appreciated districts in Bursa for housing as of the end of November 2020 are İznik, Gemlik, Nilüfer, Kestel, Orhangazi, respectively. Considering the annual averages, it is seen that as of the end of November 2020, the districts that lost the most value in Bursa for housing are Orhaneli, Yenişehir, Yıldırım, Mustafakemalpaşa and Karacabey, respectively. Considering the depreciation periods, it is seen that the districts with the fastest return in Bursa as of the end of November 2020 are Orhaneli, Mustafakemalpaşa, Osmangazi, Nilüfer, Yıldırım, respectively. Considering the depreciation periods, it is seen that the districts with the latest return in Bursa as of the end of November 2020 are İznik, Mudanya, Gemlik, Karacabey and Orhangazi, respectively.
Bursa Effect on Foreigner Housing Sales in Numbers
Due to the decreasing times with Covid-19 pandemic, though a judge of Turkey to foreigners in the first 10 months of 2020 shows that 31.423 public housing units sold. On the other hand, the number of house sales made to foreigners in Bursa between January and October is seen as 1,068 units. Bursa stands out as the fifth city preferred by foreigners for housing investment with more than a thousand housing sales. Although there have been periods of decline in housing sales due to the epidemic in the current year, with the realization of the expected number of house sales in December, it is anticipated that the highest housing sales figures of all time will be reached in housing sales to foreigners.
On the other hand, in this 10-month period, it is seen that the cities where the most houses are sold to foreigners are Istanbul with 14,424, Antalya with 6.053 and Ankara with 2.176. Bursa is followed by Yalova with 1,068 house sales and becomes the fifth city in which the most houses are sold to foreigners. Due to the coronavirus epidemic, it is reflected in the statistics that there was a 43% decrease in housing sales to foreigners in Bursa in 2020 compared to the same period of 2019. In October 2020, it is seen that 186 houses were sold to foreigners in Bursa. Bursa is one of the most preferred cities in housing sales to foreigners, as the fifth city in which the most houses are sold to foreigners, after Istanbul, Antalya, Ankara and Yalova, according to monthly averages.