Property Price Range in Turkey

Buying property in Turkey is rapidly becoming an international trend in the worldwide business markets. Many reasons get behind that pattern, however, the most agreed upon probable cause is that such Real Estate investments are generally suitable for both businessmen and individuals at the same time. Especially that Turkey is relatively new to this kind of commercial activities. Besides that, the potentiality of growth is quite high in correspondence with the future plans outlined by the country authorities aiming for upgrading the current economy to get along with veteran competitors.

Real estate Professionals’ predictions came true as well. In 2021, real estate prices in Turkey are expected to escalate by at least 50%, yet this value may vary according to property market criteria

According to the Central Bank of the Republic of Turkey’s statistics shown above, housing Index in Turkey has increased to reach 165.50 in March from 161.70 points in February of 2021 Whereas, while looking at the graphic below, collected from the Turkish Real estate indexing website (endeksa) up until April 2021, the prices of house sales have increased by 31.68% in the last year. Given, the average area of sales properties reached approximately (130 m2) and average Unit Price is (2.920 ₺/m2)

The prices of flat apartments in 2021 according to the number of rooms can also be found in the breakdown below, however, other factors can affect those values such as location, property views and other quality related features

As for luxury residential units which include detached houses, villas and compound properties, the price ranges are quite large based on property market values and age of the building itself.

• (750.000 – 10.000.000₺) for Detached House and Villa Properties
• (500.000 – 7.000.000₺) for Sea View apartments
• (450.000-9.000.000₺) for Compound flats and Penthouses

What are the Popular Places for Buying Property in Turkey?

Turkey is famous for having attractive geographical, economic and cultural standards, alongside the rewarding flexible property rights law alluring foreign investors and property owners to buy real estate with ease of mind. That’s why while answering the question “which country to buy property in?”, Turkey is often mentioned as the easy answer. Great weather, beautiful landscapes, unique mix of history and modern architecture, developed medical and education systems, tolerance of social society and diverse work opportunities are amongst the numerous factors that participate in placing Turkey within such criteria.

As for the frequently asked question of “where to buy property in Turkey?” that would probably pop in everybody’s head while purchasing Real Estate in the country. According to national statistics and worldwide listings, the top 4 places to buy property in Turkey are (Istanbul, Izmir, Antalya and Bursa). Many reasons led to such categorization, specifically for foreigners who seek easy access to airports and being around western ambiences. The below detailed list of popular places to buy property in Turkey will surely provide heads up during answering that inquiry.

Property in Istanbul

Istanbul, Turkey’s largest province and the country’s icon of tourism, modern life, dynamic center of business and commerce that brings together two of the world’s largest continents (Europe and Asia). The sizable transformation projects, world-class logistics; health and education sectors, attract in-city foreign workers, businessmen and Turk nationals to purchase their next residence in Istanbul and benefit from those metropolitan privileges.

hosting three of the world’s most active Airports, international brand shopping centers, modern art and social forums encourage foreigners to buy a house in this vicinity to spend entertaining vacations or retirement residency. Istanbul offers profitable investment opportunities as well, due to the continuous upgrade plans for the city’s most sought after neighborhoods like Beylikduzu, Esenyurt, Bagcilar, Kucukcekmece and Sariyer. Investors opt to off-plan based projects which yield potential market value growth and periodic rental income. During the past 15 years alone, more than 50,000 foreign property sales deals were made in Istanbul. This puts Istanbul amongst the most places in Turkey to attract real estate purchases. This also resulted from the versatility of residential units where homeowners can choose among Ottoman mansions and villas overlooking the Bosphorus, or in-complex luxury flats and penthouses, to budget friendly apartments and resale units. Not to mention the modern business oriented project and office properties that come with different sizes and costs.

Beylikduzu

Located in the western parts of the city, as one of the most aspiring neighbourhoods in the European side of Istanbul. hosting dynamic shopping centers, reputed universities and landscaped parks. This area is famous for the huge number of new housing projects being built everyday with flexible budget options. Location features also include proximity to Ataturk Airport, accessibility of transportation and proximity to highways.

Esenyurt

Being part of Buyukcekmece district, neighbouring Beylikduzu, Esenyurt is considered one of the rapidly surging areas in the real estate market of Istanbul. The affordable commercial style property projects suitable for corporate environments and buy-to-let apartments are prominent trends in this area. luxury compounds offully services facilities are among the dominant options found with competitive pricing.

Bahcesehir

As part of Basaksehir district , Bahcesehir is one of Istanbul’s most sought after neighbourhoods, by investors and homeowners due to its central location, proximity to universities and vast green spaces. The area is full of family friendly housing complexes, modern shopping malls and entertainment facilities. The diverse property styles in the area led to increasing the real estate market values of Bahcesehir

Sisli

This district features a charming combination of ancient Istanbul and modern urban life. Where you can find vintage local pazars, contemporary art galleries and vibrant nightlife. Sisli is perfect for real estate investment opportunities since the area is very expat friendly and full of hotels that cater to international tourists. Being right at the center of Istanbul, surrounded by luxury amenities and transportation channels is a significant quality of this dynamic area as well. Moreover, the district offers permanent residence attractions as well within its brand new housing complexes and elite villas.

Property in Bursa

Bursa province, is located in the northwestern part of Turkey between Istanbul and Ankara provinces, overlooking the magnificent Marmara Sea fronts which yields thriving tourist attractions that result in boosting that city’s local economy and urban reputation. Bursa combines historical ancient values, being the capital of the Ottoman Empire during certain times, with modern life elements by undertaking major construction and industry projects as Turkey’s largest industrial city with massive contribution to the local market.

Statistics show that in 2014, Bursa came No.6 in the listing of the most popular spots to buy property in Turkey. However, the city’s rank went up in the past 5 years allowing Bursa to come third in that list. That was a result of the increase of property purchases made by both investors and homeowners especially from the middle east region whom are fascinated by the city’s overall culture and social heritage which quite resembles their home traditional customs. Not to mention the refreshing weather and opportunity to enjoy skiing along the downhills of Uludag mountain during winter times

Nilufer

Located in the heart of Bursa, alongside the new projects carried out in this district enabled it to become the new city center. Nilufer is the No.1 choice for those who plan to invest in real estate and land purchases. Homeowners are also attracted to the green landscapes in the area and peaceful atmosphere that adds to the area’s cultural status.

Osmangazi

One of the oldest districts of Bursa. The most populated part of this area is the part clover to the city center. The district’s boundaries are quite vast and include versitkes neighbourhood styles . Where there are several sophisticated neighborhoods as well as suburban spots Which means there is different options for different budget range

Property in Antalya

One of the Turkish Rivera’s most coveted beach areas in Antalya, where residents may enjoy sunny refreshing days all year long, swimming in the gorgeous waters of the Mediterranean and spending spectacular times in the area’s entertainment facilities. Konyaalti provides endless choices of local restaurants, cafes, hotels and shopping centers that satisfy all tastes. Best sellers in the vicinity are flats, apartments and luxury penthouses with unique panoramic views over the Sea. In addition to that, another instinctive to purchase a property in Konyaalti, is that all those qualities come with affordable prices ranges and flexible payment terms

Konyaalti

Antalya’s second most famous beach town with high forieng property purchases and profitable buy-to-let investments. That is a result of the available exclusive world-class hotels and resort compounds in the area that allure tourists during summer vacation times and participate in escalating the commercial value of the properties.

Lara Beach

Antalya’s second most famous beach town with high forieng property purchases and profitable buy-to-let investments. That is a result of the available exclusive world-class hotels and resort compounds in the area that allure tourists during summer vacation times and participate in escalating the commercial value of the properties.

Property in Izmir

The third largest city in Turkey, also known as the Pearl of the Aegean. Located in the western part of the country neighboring the Gulf of Izmir, with a population value exceeding (4,300.000), rich historical background and sophisticated metropolitan structure. Overlooking spectacular blue coastal line of more than 620 km, having settle climate across all lands, thriving commercial and construction sectors, friendly society standards, availability of modern life amenities and transportation channels, Izmir is increasing becoming a hot touristic spot as well as a place to buy permanent property and live in pleasant life.

Competing with Istanbul, Izmir hosts dynamic automotive, textile and food industry sectors, producing more than %13.5 of Turkey’s annual deliverables. Moreover, the versatile real estate market distributed across characteristically diverse neighborhoods guarantees providing a suitable offer for each budget. Starting from Deluxe Villas reaching to economic flat units. This promising market also serves both investors and homeowners simultaneously, due to the potential growth of real estate values as new projects are commencing every day.

Balcova

Balcova is located 8 km away from Izmir’s city center. Surrounded by Konak district in the east, Narlidere in the west and Izmir Bay in the north. Balcova is 18 Km away from the Airport. The district is famous for its green landscapes, beautiful nature, thermal hot springs and touristic trips to the cable car ride yards. Alongside the availability of modern construction sites and housing project in the area, all the previously mentioned properties, attract hundreds of people to choice Balcova for their real estate purchases

Cesme

This spectacular beach town in Izmir is surrounded by the Aegean Sea on three sides, north, south and west, and Urla district in the east. The stunning extended blue shores, golden sandy beaches and amazing weather, led to making Cesme a highly visited tourist destination by locals and foreign residents in the region. The different entertainment activities like, surfing, diving, cycling encourage more visitors to come back every year. It’s of no surprise that property sales in Cesme are popular among foreign buyers.

Bornova

Surrounded by Kemalpasa district to the east, Buca to the south, Konak and Bayrakli to the west, Bornova is the third largest district in Izmir. Bornova is the home for thousands of students that join its reputed universities every year. A sizable number of visitors enjoy the vintage architecture, huge shopping centers and museums during their trips to Bornova’s neighborhoods. Those features participate in prompting the property for sale in Bornova as profitable real estate investments

What Affects Property Prices in Turkey?

Property market in Turkey is definitely witnessing a proactive surge day by day, especially under the flocculating global economy and market values in comparison with the relatively stable circumstances in Turkey. Not to mention the escalating demands for buying property in Turkey induced by the increasing number of prestigious projects being built every day, in correspondence with world-class quality standards. It’s easily expected that this dynamic commercial environment’s values are to be controlled by a set of leading factors.

The list below details what affects property prices across the country:

• Real Estate Investors:Investors can benefit from profitable sale, resale based opportunities as well as buy-to-let style units with guaranteed rental incomes. Such deals are found in metropolitan areas where Istanbul precedes other names like Ankara, Bursa, Izmir and Aegean region spots Like Antalya province, Alanya and Bodrum districts.
• Businessmen and workers:Versatile job opportunities and fertile grounds suitable for small, medium and large size business projects push people to come to Turkey. The peaceful society, decent culture and affordable living cost adds up to that. This is witnessed in Istanbul and Ankara which contain a sizable population of foreign working force
• People looking for balanced lifestyle: The combination of beautiful nature, favorable weather, affordable living costs and high social standards, urge small-medium wage families to choose Turkey as their new area of residence, where they don’t have to compromise quality life standards in account of financial aspects.
• Luxury Seekers and Retirement Resorts: Turkey hosts elite real estate projects that satisfy special tastes. Deluxe villas just a few steps away from dazzling beaches, exclusive penthouses with 5-star hotel services and more. Those types of real estate draw the attention of VIP life seekers and retired civilians who dream about spending quality times with their loved ones away from the crowds

What are the Advantages of Buying Property in Turkey?

Real estate market is exponentially surging and new provinces are entering the competition inside the Turkish arena annually. Foreigners from different destinations are following the trend of buying a house in Turkey, influenced by the success stories of satisfied homeowners who found what they are looking for after making this choice. That must be a result of what Turkey has to offer to those who believed in this opportunity. Below are some of the advantages of buying property in Turkey:

• Vacation resort weather and beautiful nature across all Turkey, attract homeowners and investors world wide
  Whether you enjoy sunny refreshıng days on the Mediterranean beaches almost all year long in the Aegean region’s districts like Alayna and Bodrum, or cozy rainy vibes of Istanbul and skiing on pearly white snow hills of Bursa, Turkey is unique for bringing the best of two worlds.
• Affordable property price point that suits every budget, without compromising quality life standards
  Compared to Europe, Turkey presents competitive real estate costs that come with fine value standards. It’s so easy to buy a luxury villa with a private garden and exclusive swimming pool and quality finishing material, for half the price of a similar one in Europe with probably less privileges.
• Reasonable living costs including major social requirements and health insurance
  Not only are real estate prices in Turkey flexible, but also It’s not easy to find a place with a more affordable cost of living across the whole world. This includes: Food and entertainment facilities, monthly (Gas, Electric and water) bills, transportation, home and industrial equipment. Moreover, free education and affordable medical insurance plans.
• Developed Infrastructure facilities and accessibility to dynamic transportation channels:
  Turkey has one of the largest, most sophisticated Metro station networks in the world, mainly within Istanbul province. There are also other transportation means like Metro-buses, buses, tramways and trains connecting each part of the country with cheap costs. Turkey also established a sturdy sanitary facilities and electricity/gas supply systems.
• Potentially of profitable investment projects and job vacancies for skilled/unskilled workers with reasonable career stability
  Turkey produced several lucrative investment opportunities during the past 15 years including real estate, automotive and other domains. Besides the potential job offers for skilled and unskilled workers alongside new markets for young entrepreneurs and small size project managers.
• Obtaining residency and Turkish Citizenship that comes with the privilege of easily roaming around the world
  Although it’s not mandatory to purchase your own home to get a residency permit, in case you are planning to live in Turkey for the long run, it’s recommended you buy a property there to guarantee extended residency permission period. Better yet, if you meet a certain arteria you may even get the Turkish Citizenship and benefit from the Turkish passport’s privileges

What are the Property Rights in Turkey?

One of the conducive attractions that led to people investing in Turkey’s real estate market, is the flexible property law which gave the right of real estate ownership to 183 countries. This facilitates the overall property purchase process for foreigners. According to Norton Rose Fulbright (inside Turkey) online business resources, below are the main headlines of the property law for foreigners:

• In general, foreign individuals and entities are generally entitled to acquire and own immovable property in Turkey
• Immovable property may be acquired in the form of land, or independent sections of a real property, such as flats, apartments, offices, shops and depots, subject to condominium rights (kat mulkiyeti).
• Acquisition of title to real property or a mortgage thereon requires an official transfer deed drawn up by the title deed officer and registered with the title deed registry located where the real property is situated. Title deed registry records may be inspected by those persons who can establish a legitimate interest in the relevant property.
• Individuals must be citizens of one of the white-list countries. Foreign individuals interested in acquiring real property in Turkey may request information on these countries from Turkish embassies and consulates, the General Directorate of Land Registry and title deed offices.

How Many Property is Bought Every Year from Turkey?

Numerous elements affect the property sales deals closed each year in Turkey. We can expect those factors to have varying priorities through time, with respect to critical changes. In Turkey, the challenging economic situation, unstable stock and currency market as well as the outbreak of the global pandemic are definitely among the main topics to shed a light upon. According to the Turkish statistics institute the number of sold houses in Turkey throughout the past years is shown in the graph below:

As for House sales for foreigners on the other hand, Istanbul ranked first with 19,175 sales in 2020. Antalya came second in the list with 7,735 sales. Antalya was followed by 2,746 sales in Ankara and 1,340 sales in Bursa.

Who Founded Realty Group?

In 2009, Realty Group was founded by the firm’s CEO (Mr. Murat Padar) in association with a prestigious team of experts, specialized in the real estate markets of Turkey. The early form of this entity was a medium sized agency dedicated to provide comprehensive support in property sales procedures and all the related legal formalities. The range of offered services continued to expand through 12+ years to include: property selling, investing, management, financial, after-sale support and eventually evolved to cover the complete process of issuing the Turkish Citizenship for eligible clients.

Realty Group’s main headquarters was established in Istanbul city, inside the dynamic heart of the Metropolitan, to ensure easy access to the firm’s offices and reachability to its employees by the visiting clients. New departments launched afterwards in different parts of the city in order to ensure the smooth flow of work and secure optimal results.

Realty Group is determined to induce its staff of 80+ employees to be constantly passionate about achieving 100% client satisfaction. This is performed through adopting the highest possible standards to retain a leading role in Turkey’s real estate market. Realty Group also aims towards making Turkey the number one destination for real estate buyers and investors all over the world, and growing bigger and bigger aided by the positive feedback and recommendations of our trusty clients.