In recent years in Side developers built a large number of luxury complexes with full facilities for living to a new quality level. The expanding economy and the standard of living in Turkey, including Side city, contribute to the fact that the local people are beginning to acquire a comfortable and quality property and will not agree to less.
Working in the real estate business for 15 years, Side Homes Real Estate decided to open a second office in Side. Following current trends in the real estate, the new boutique office specializes in the sales and rentals of quality and comfortable apartments and villas. The company attaches importance to the exclusive approach to each client, whether it is the owner, buyer or tenant.
Since Side is a tourism center, a crisis in tourism significantly affected the real estate sector as well. Many foreign owners for various reasons in the past year started to sell property. We expect that this year even more properties by foreign owners will come on the market at a reasonable price. This will enable local people to acquire high-quality and comfortable property, especially when government is supporting the citizens with mortgage lending.
I would like to say a few words about foreign buyers. Mediterranean property was and still is very interesting for foreign buyers and investors. This year we expect a slight increase in demand from UAE, Germany and Russia.
The trends in rental market are also changed and a lot of comfortable properties with full facilities are available at the moment for long term rent. Short-term and holiday rental market this year will face serious tests. Legalization of financial flows and control by gendarmerie of short-term and holiday rentals will lead to fundamental changes in all aspects.
At the moment Side Homes Real Estate Center successfully continue to work in the real estate market for sales, property management, long term and holiday rentals.