The payback period for land has dropped to 1-2 years

The earthquake disaster has further intensified the demand for land that had already been rising with the pandemic. Nearly one out of every two real estate sales is now land. In addition to the Marmara and Aegean regions, Central Anatolia, which is not on the fault line, is also in high demand. Prices have seen an increase of 250-350 percent in one year. This has reduced the return on investment period to as little as 1-2 years.

Stating that there is great interest in land, Bülent Öztürk listed the reasons as follows: "The primary reason is the February 6 earthquake. The Kahramanmaraş-centered earthquake and its consequences pushed people to abandon multi-story living and prefer a detached lifestyle. Outskirts of cities are now in high demand."

ZONING STATUS IS CRUCIAL

Emphasizing that the zoning status should be checked first in land investments, Öztürk said, "It is essential for the investor to know the difference between 'arsa' (buildable land) and 'tarla' (agricultural land) above all else. 'Arsa' refers to plots with construction permits. 'Tarla,' on the other hand, are areas where only agricultural activities can be carried out."

PROVINCES NOT ON THE FAULT LINE ARE IN DEMAND

Expressing that the highest demand for land investment comes from the Marmara Region, Öztürk said, "It is followed by the Aegean Region. Especially after the earthquake, there is also an increase in land investments in the Central Anatolia Region. The return period for land investment is also decreasing. Particularly in the last few years, due to the inflationary structure, we see increases of over 100 percent even within 6 months. Therefore, return periods (amortization) have now dropped to 1-2 years."

THE FIRST STEP FOR HOUSING

Responding to the question "Buying land? Or buying a house?", Öztürk said, "Definitely land. Because currently, land costs are one of the most important elements of housing costs. If land can be purchased at an affordable price, there is a significant reduction in the cost of acquiring a home."