Demand Decreases and Prices Fall in Land and Field Market

The demand for land and fields, which rose after the pandemic and earthquake periods, changed direction under the influence of high interest rates and alternative financial instruments such as gold.

Change in Investment Preferences

The demand for land and fields, which increased after the pandemic and the February 6 earthquakes, changed direction with high interest rates, the rise in gold prices, and the diversification of financial instruments. As investors turned to instruments that yield short-term gains and are easy to buy and sell, demand for land and fields decreased and prices began to decline.

Real estate agents stated that lands purchased at high prices in the past cannot even be sold at their current value today.

Stagnation in the Çerkezköy Market

Muhammet Yazıcı, a real estate agent in Çerkezköy, stated that lands that were 7 million liras last year have now dropped to 6 million liras, and lands that were 1 million 250 thousand liras have dropped to 1 million liras.

Stating that investors have turned to gold, Yazıcı emphasized that there is a high number of farmers who want to sell land, but it is difficult to find buyers.

Noting that a similar stagnation is experienced in places with small budgets, Yazıcı said that places offered 200 thousand liras last year cannot find buyers even for 180 thousand liras.

Supply and Demand Balance in Tekirdağ

Harun Şahin, a real estate agent in Tekirdağ, stated that buyers have become selective as the supply-demand balance has been disrupted.

Şahin conveyed that a piece of land bought for 500 thousand liras two years ago was put up for sale at 750-800 thousand liras, but when no buyers were found, it had to be sold for 500 thousand liras again.

Stating that stocks and crypto assets, alongside interest rates and gold, are also directing investors' money away from real estate, Şahin expressed that there is a serious stagnation in the real estate market.