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, then this house will be amortized in 17 years. This is a good figure for Turkey average. How many hundred square meters does the house repay itself in a few years? According to the statistics of the Turkish Statistical Institute (TURKSTAT), the 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. Istanbul with 3.000 TL, Antalya with 2.250 TL, Bursa with approximately 2.000 TL and Ankara with 1.800 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 to invest because of the high prices of houses, this city is attracted to the fact that prices increase faster than other cities. Perhaps this is not rent, but it may be tempting for the same house value to increase further after 5-10 years compared to other cities.