When buying a home, we look at many details, from the characteristics of the house, the interest rates on the loan, to the area where the house is located. However the most referenced method to find out the value of the house is actually the depreciation account. For example, you divide the sale price by the annual rental income to make the home depreciation account you bought. So the home amortization account is emerging.
How to make an amortization account?
Let's say that if your house has an annual rental income of 7.000 TL and a house sale price of 120.000 TL, this house will be amortized in 17 years. This is a good figure for Turkey in average. In how many years does the hundred square meters house repay itself? According to the statistics of the Turkish Statistical Institute (TURKSTAT), Gross Domestic Product per capita in the province, Istanbul has emerged as the most difficult residential city.
Istanbul is the top!
The average price of a flat in Istanbul is above 5,000 TL, which means that a house of 100 square meters will be sold for about 500,000 TL.. Therefore, a 100 square meter home in Ankara can have about 200,000 TL. According to the same research, a monthly rent for a one-square-meter residence in Istanbul is 21 TL in Istanbul, 13 TL in Izmir, 10 TL in Ankara, 9 TL in Bursa and Antalya.
Although Istanbul does not seem very sensible for investment because of the high prices of the houses, this city is attractive and the prices increase faster than other cities.