Rising Real Estate Prices in Altıntaş: Factors and Trends
Explore the factors behind the rapid increase in land prices in Altıntaş, including high inflation and strong demand. Discover how the exhausted housing stock in Lara region has influenced the surge in property demand in Altıntaş.
Altıntaş, an area that was opened for urban development towards the end of 2020, has witnessed a significant rise in land prices. In January 2021, the average price per square meter ranged from 1,400 TL to 1,650 TL. However, by February 2022, these prices skyrocketed to levels between 5,600 TL/m² and 6,500 TL/m². This remarkable escalation in land prices can be attributed to two primary factors: high inflation and intense demand. Investors, seeking to preserve the value of their money and generate profits amid high inflation, have turned their focus towards real estate investments.
Another reason for the soaring demand is the astronomical increase in property prices in the Lara region. This surge can be attributed to the region's completion of development, depletion of available construction areas, and a shortage of housing stock. As a result, prospective property buyers who couldn't afford purchases in the Lara region have redirected their attention to the neighboring Altıntaş.
The Kırcami Factor:
The recent resolution of the longstanding Kırcami urban planning issue in Antalya raises questions about its impact on the demand for Altıntaş. To address this curiosity, it is essential to highlight a crucial detail. In the Kırcami area, independent parcels are almost non-existent. This is mainly due to the increased number of shareholders in lands that have been awaiting urban development for 35 years (inheritance, sales, etc.). The significant number of stakeholders complicates making unanimous decisions, making share sales and land-for-construction agreements more prominent in this area than individual land sales.
