According to data from Makro Life, which provides real estate valuation services with artificial intelligence and data analysis, as of May, the payback period for housing investments in Turkey is calculated as 13 years. This period increased to 18 years in the post-pandemic period.
One of the most frequently asked questions in the process of buying a house is how long it will take for that house to pay for itself with rental income. The answer to this question in real estate investment is given by the "depreciation period". Amortization period; It represents the average number of years required for a house to cover its sales price with rental income. In Turkey, this indicator increased to 18 years by the end of 2022 after the astronomical increases in real estate sales prices following the pandemic. In the last two years, this trend has been reversed. According to data from Makro Life, which provides real estate valuation services with artificial intelligence and data analysis, depreciation period in Türkiye to 13 years decreased by . This figure is the average of the last 8 years. 14 yearsıbelow n.
Provinces that repaid themselves in the shortest time: Ankara, Karaman, Muş
According to Makro Life's analysis, the provinces with the shortest return on investment 11 years with Ankara, Karaman, Kars, Muş and Hakkari happened. These provinces 12 years old for a while Kilis, Kırıkkale, Nevşehir, Bilecik and Edirne watching.
On the other hand, among the provinces with the longest depreciation period, it is especially popular with holiday resorts. Muğla and Aydin It is noteworthy that it took the first two places. in Muğla depreciation period 20 years, 18 years in Aydin was calculated as . 17 years in Balıkesir, Kastamonu and Trabzon; In Isparta, Antalya, Elazığ, Rize and Çorum if 16 years was measured as .
It takes 34 years for a house in Kaş to pay for itself
At the district level, the difference is even more striking. Shortest depreciation period 10 years with Doğubeyazıt (Ağrı) While seen in the district Kırkağaç (Manisa), Reyhanlı (Hatay), Siverek (Şanlıurfa), Uzunköprü (Edirne), Eyyübiye (Şanlıurfa), Beypazarı (Ankara), Merkez (Muş), Yahşihan (Kırıkkale) and Akdeniz (Mersin) 11 years It stands out with its amortization period.
On the other hand, in some districts, especially in coastal areas, depreciation periods 30 years has exceeded. Kaş (Antalya) 34 years It was the district that provided the longest return with Beykoz (Istanbul, 31 years), Çeşme (İzmir, 27 years), Köyceğiz (Muğla, 25 years), Hassa (Hatay, 23 years), Beşiktaş (Istanbul, 23 years), Sarıyer (Istanbul, 23 years), Kandıra (Kocaeli, 22 years) and Ayvacık (Çanakkale, 22 years). Districts such as are following.
'High interest rates suppressed sales prices, depreciation periods shortened'
Makro Life Founding Partner and General Manager Gorkem Öğütevaluated this decrease in depreciation periods as a sign of important structural changes in the real estate market. Öğüt used the following words:
"The biggest reason for the decrease in the depreciation period is that rental incomes increase faster than housing prices. In the past 2 years, the use of housing loans has decreased significantly due to high interest rates; this has slowed down both the sales volume and the price increase rate. In fact, when the inflation effect is taken into account, it seems that housing prices have decreased in real terms. According to Makro Life's current data, housing sales prices have decreased in nominal terms in the last year." %26 increases, in real terms due to the inflation effect %8 fell down.”
Öğüt stated that the activity in the rental market is another important factor affecting depreciation periods: “As of July 2024, 25% The removal of the mandatory rent increase limit allowed landlords to set rent prices that are more appropriate to market conditions. This development paved the way for a more liberal increase in rental prices. According to Makro Life data, rents have increased in nominal terms in the last year %34 increased. However, when inflation is taken into account, this increase is 2% It means a decline.”
