What will happen to the tourism housing market in Turkey in 2024?

In 2024, the costs of those who rent housing in Turkey for up to 100 days will increase.

The fact is that Turkey has tightened the rules for renting out housing to tourists. Now, to do this, you need to obtain the consent of all the owners of the house and a license from the authorities, and also place a corresponding sign at the entrance to the house.

Violators of the rules face fines ranging from 100,000 to a million lire. Websites advertising apartments rented out illegally will also face punishment.

The new rules will improve the quality of tourist accommodation and services in Turkey, but prices for short-term rentals may increase by 30-35%. Property owners will have to reconsider their business strategy. For example, switch to long-term lease or sell your properties altogether.

Innovations will have a lesser impact on new buildings - they can receive the necessary permission even before commissioning.

Currently, many hotel-type properties are being built in Turkey, which will immediately receive a license to rent out apartments to tourists. Developers guarantee investors from 7 to 10% per annum on rent. Such objects will be of interest both to those who are just planning to get into the tourism business, and to those who, due to the new rules, decide to sell real estate and find other options.

To select the most liquid object, contact Osman Group. We will select the most attractive options to suit your budget.