As a popular holiday destination, Turkey has a unique historical heritage and superb recreational opportunities, which makes the country attractive to investors. The real estate market in Turkey is booming as foreign buyers continue to grab apartments, houses and villas at an increasing rate. It offers potential investors a truly overwhelming choice of properties and buildings for sale of all types and for any budget. Here, we’ll cover some of the Turkish real estate hot spots and tips to consider before deciding on a final purchase.
The best places to invest in real estate in Turkey
1. Istanbul
Istanbul is one of the largest cities in Turkey and the 5e most populous city in the world. As the main hub of the country’s economy, tourism and entertainment, the city presents a multitude of magnificent scenic spots ranging from masterpieces of Byzantine and Ottoman architecture to modern trends. The rich historical and cultural heritage makes Istanbul one of the most popular vacation destinations around the world.
Its real estate sector is flourishing thanks to a number of megaprojects and continuous modernization of the city’s neighborhoods. Property in Istanbul is in high demand, especially by buyers drawn to the city’s vibrant and bustling lifestyle. Prices start on average at $ 60,000 and vary widely depending on the reputation and infrastructure of the neighborhood. There is an array of choices available to potential buyers, including luxury villas and affordable apartments, as well as off-plan and off-plan properties.
2. Antalya
Antalya is often called “the pearl of the Mediterranean”. It has acquired such a splendid reputation due to the stunning sea and mountain views. With the waves caressing endlessly long stretches of golden beaches, 300 sunny days a year encourage all kinds of outdoor activities allowing guests to explore the natural attractions of various national parks, indulge in adventurous water sports. , enjoy the pleasures of the lively nightlife, etc.
Antalya’s real estate market is constantly expanding, offering non-residents countless real estate investment options, from budget studio apartments to luxurious villas. By investing in real estate in Antalya, apart from acquiring a comfortable home with an impeccable panoramic view, you also get all the amenities at your doorstep.
If you are interested in this area, you can find more information about houses for sale in Antalya here.
3. Alanya
Alanya is a picturesque seaside resort and one of the districts of Antalya province. It is becoming more and more popular among tourists and accounts for up to 30% of foreign investment in Turkish real estate. The place displays a harmonious coexistence of great historical monuments and a vibrant cosmopolitan atmosphere of a rapidly developing city.
Whether you are planning to invest in commercial real estate or prefer to buy a home, there are many options to choose from. It should be mentioned that the real estate market in Alanya is booming due to the Turkish government’s considerable investment in the development of the tourism industry. However, unlike its neighbor Antalya, Alanya attracts potential buyers with top-notch properties available at much more reasonable prices, starting at $ 55,000.
Here you can find out more about real estate in Alanya.
4. Stock exchange
Its splendid mosques, palaces and mansions displaying an intricate style of Ottoman architecture, renowned thermal baths and hot springs attract more and more visitors and real estate buyers. Bursa is home to one of the best and most popular ski resorts, located on Mount Uludag.
People who want to get more for the money they pay prefer Bursa to many other cities, as the area offers affordable properties, starting at $ 45,000. The transport link between Bursa and Istanbul has made it an even more accessible and attractive tourist destination, as well as a lucrative investment option.
All the available information regarding properties for sale in Bursa you can learn by visiting the website of the company specializing in working with foreign clients who want to own Turkish real estate.
5. Yalova
Yalova is a beautiful town that features emerald green forests merging with the turquoise waves of the Sea of Marmara. It boasts a number of tourist attractions including numerous hot springs, spa centers and gurgling waterfalls. A well-developed transport network connects Yalova to major cities, making it a valuable long-term investment option.
Yalova’s real estate market is growing steadily, with average property rates slowly increasing year on year. However, prices are still considerably lower than in Istanbul, which is less than an hour’s drive from Yalova. In addition to indulging in all the pleasures of a beach resort, people who choose to invest in Yalova property are likely to sell it in the future at a higher market value.
Here you can get a better idea of what’s on offer at Yalova.
Tips for buying property in Turkey
Non-residents who are planning to invest in Turkish real estate should keep in mind the following:
- No matter what you are looking for: residential, commercial or industrial real estate, you must seek the advice of a specialist. Rather than doing it on your own, take the time to research the real estate agencies available and find the most reputable and reliable one.
- Decide why you want to own a property in Turkey and depending on your needs, choose the most suitable location. If the purpose of your purchase is to rent it out to tourists, consider purchasing property near major tourist attractions. On the other hand, if you plan to stay there for a long time, living in an area that usually closes in low season can cause a lot of inconvenience.
- Before making a final decision, it is strongly recommended that you make an inspection visit, in order to get to know the area and check the condition of the property.
Important notes for non-residents who wish to acquire property in Turkey
- Foreigners are allowed to own property not exceeding 30 hectares in area.
- Foreigners are not allowed to buy goods in restricted military zones.
- Foreigners have the right to apply for Turkish citizenship, provided that the value of the estate exceeds US $ 250,000.
We have given a general overview of what the real estate market looks like in Turkey. However, when it comes to choosing among the best destinations for real estate investing, think about your lifestyle preferences and practical needs.
