It is quite a trek to travel by train and road or even by water to avoid the heavy traffic in Istanbul, but residents are grateful because of the enhanced mobility. This is because the increase in real estate prices in Yalova is largely due to its geographical position. Not far away from Istanbul, Yalova is well known to many people as it has ferry services connecting it to the city. There is also quite a good population that is using or in need of Yalova the city – within a target radius that is comfortable for commuting every day for work or business.
Ferry services, which operate on a very convenient schedule, allow people to travel to Istanbul every day without facing any problems. This, of course, is for those who want a pretty decent place to live that is not too far from their place of work. All this contributes to substantially improving the value of real estate in Yalova for the population who are happy to live in a city but wish to avoid the harsh confines of it.
1. Natural Beauty and Tourism Appeal
Yalova is known for its breathtaking natural landscape which ranges from green thick forests to untouched sandy beaches, thus accommodating both residents and tourists who fall in love with the coastal life. The town has what one would term a typical coastal tourism sector except for pools of idleness as there are hot springs, nature parks, and many hiking trails, thus there is not much urban wellness tourism and activities, more of nature lovers.
The attractive view coupled with the availability of activities contributes to the Yalova location being very attractive to those individuals who contemplate purchasing holiday houses or letting floors. As tourism increases, especially during the summertime, properties designed for short-term rental users are in hot demand and ultimately push the prices of these properties higher.
2. Hot Springs and Health Tourism
Yalova has been known for its thermal springs and health tourism for ages. The hot springs of the city are famous for their curative properties and people come from different parts of the globe to take the cure. Such a health tourism market has fueled the property rental demand or purchase, especially from foreign countries concerning people who wish to own a spa resort or rehabilitation center or even a simple holiday home a few meters away from the hot springs.
3. Foreign Investment and Interest
Yalova has recently witnessed a remarkable surge of foreign investments especially from Middle East countries. Some foreigners wish to invest in Yalova not only for its geographical location which is close to Istanbul and picturesque views but also because of its considerably low prices as compared to such places as Istanbul or Bodrum. Yalova has captured the attention of these ex-pats with the real estate ‘buy citizenship program’ especially suited to the ex-pats who wish to invest both in their lifestyle and monetary aspects.
With rising demand from foreign investors comes increasing competition on the limited housing resources which invariably results in an increased demand for the properties. In addition needless to say high-end developing properties for foreigners have significantly escalated the real estate prices in the country, especially along the coastal areas.
4. Climate and Quality of Life
Yalova has a Mediterranean climate that consists of mild winters and warm summers making the city a suitable year-round destination for both residents and tourists. The city shows high living standards, clean air, the presence of nature, calmness, and wide open spaces, which are the main reasons that would keep the city suited for older couples, families, and other individuals who want to take a break from city hustle and bustle.
The rising living standards in Yalova attract more and more people to the town, thus the supply of houses for sale has lagged behind the demand causing housing prices to rise unavoidably. This is compounded by the fact that Yalova is surrounded by some of the largest cities creating the perfect environment for a second home, hence the increasing demand for leisure houses and retirement homes.
5. Government Policies and Incentives
In addition, the implemented government policies such as infrastructure investments and incentives for non-residents, have also resulted in a dramatic increase in real estate prices in Yalova. The Turkish authorities have eased restrictions on the acquisition of real estate by foreign citizens with the purpose of increasing the demand, which in turn, has resulted in the market becoming an almost cut-throat one.
On the back of such encouraging policies, Yalova has turned out to be a center of attraction for real estate developers and investors, especially those who are out to benefit from the development of the city. Hence, the vicious circle on the tussle for space has escalated, consequently, pushing up prices.
Conclusion:
The surging house prices in Yalova have not been an accident but the interplay of a number of compelling events; strategic proximity to Istanbul, environmental aesthetics, thriving tourism, high value for foreign returns, and continuous expansion. For the investors, Yalova beckons not only as a place to enjoy but also as an assurance of appreciation and recouping of a fortune after some time.
