What 2024 holds for investment in Mersin
What 2024 will bring to the Mersin Marketplace?
The past 12 months have been rather difficult for Turkey. An inflationist environment brought higher prices for each item, including property. With the earthquake on February 6, 2023, we were devastated once again, and the economic status for the people got worse. Turkey’s economy shaking, creates an opportunity for foreign investors.
Turkish Liras devaluation after the election in May 28 created an advantageous environment for the foreign investors. Pre-election an apartment worth $75.000 in Turkish Lira was about the same value after the vote. However, when USD jumped from 19.95 TL to 25.25 TL in 30 days, the market had to settle at lower Dollar levels for most properties. On 22.12.2023 when this article is being written, 1 USD equals 29.09 TL!
Was there anything good in 2023? We can say the market is settling to its new norm and there is light at the end of the Tunnel with 2024 coming closer.
Main openings in 2024
– Our Cukurova Regional Airport saga is coming to an end in January 15, 2024. The airfield will be operating partially in the beginning. In the following 6 months flights to and from all destinations will begin.
– The extension of the Adana-Erdemli Motorway has already begun. We will see it reaching in Erdemli by the end of 2024. Soon after it will continue to Silifke, and Mersin’s transportation will finally be breathing.
– The Akkuyu Nuclear Energy Plant will generate electricity for first time in 2024. This means more expats will be in the region for many years to come.
– D-400 is the main commercial, office, and transit axis of Mersin. In the last 25 years locally called ‘2nd main road’, Okan Merzeci Boulevard took some of the weight off D-400’s shoulders. Now, the 2nd Main Road is also going to be a main axis all from the East to the West.
– Final Stages of the Tunnels and viaducts on Mersin-Antalya Road (D-400) will be completed also in 2024. This will reduce the time of travel from Mersin to Anamur to under 2 hours.
Where is the opportunity in 2024?
Let us look at this in 3 sub sections:
Residential investment
There are many options in the Mersin area, and prices seem to be all right. However, where to invest to get the best out of your capital is the real question.
Erdemli coastline is developing rapidly. As the motorway will be reaching beyond Erdemli in the next two years, the strip between Kocahasanlı and Kızkalesi will be a prime investment location for buyers. You can take your place here with our Early Bird opportunities.
We can test real results from this area by looking at sales and pricing from 2018 to today.
Commercial Investment
We have mentioned earlier that the Turkish public are struggling with the high prices, however the retail industry seems like they are over so rapidly growing. If we try to explain this from a social point of view, the simplest way of putting it is ‘Life goes on!’.
Renting your commercial unit out is possible at a reasonable level around its current market value, and sales of your unit depends on its location and the turnover the business occupying your property. Finding the correct price is key when it comes to investing in commercial property.
Focusing on up-and-coming areas and relating yourself to successful corporate tenants is important.
Land Investment
Land prices increased rapidly since the introduction of zoning plans in various parts of Turkey. The Maras Earthquake caused a huge migration from the area and Mersin, Istanbul and Antalya have the biggest share in terms of incoming population.
When there is need for new residential areas, of course demand increases for developable land, and the West of Mersin is ideal for land investors. Whether you are interested in a small investment or large, we have various good size, price and great return options here in Mersin for you.
Please contact us regarding your plans and let us build your investment plan together. 23.12.2023
