As a popular holiday destination, Turkey boasts a unique historical heritage and superb opportunities for recreation, which makes this country attractive to investors. The real estate market in Turkey is booming, as foreign buyers keep on snatching up apartments, houses and villas at an increasing pace. It provides potential investors with a truly overwhelming choice of property and buildings for sale of any type and for any budget. Here we are going to cover some of the Turkish property hotspots and the tips to take into account before deciding on a final purchase.
Top places to invest in property in Turkey
1. Istanbul
Istanbul is one of the largest cities in Turkey and the 5th most populous city in the world. As the country’s leading hub of economy, tourism and entertainment, the city exhibits a multitude of gorgeous scenic spots ranging from the masterpieces of Byzantium and Ottoman architecture to modern trends. The rich historical and cultural heritage makes Istanbul one of the most popular holiday destinations across the globe.
Its real estate sector is thriving due to a number of mega projects and a continuous modernization of the city’s districts. Property in Istanbul is highly sought after, especially by the buyers attracted to the city’s vibrant and bustling lifestyle. Prices start at an average of $60.000 and vary dramatically, depending on the district’s reputation and infrastructure. There is an array of choices available for potential buyers, including luxurious villas and affordable apartments, as well as off-plan and key ready properties.
2. Antalya
Antalya is often referred to as “the pearl of the Mediterranean.” It has earned such a splendid reputation owing to the superb views of the sea and mountains. Along with the waves fondling infinitely long stretches of golden beaches, 300 days a year of sunshine encourage all kinds of outdoor activities allowing guests to explore natural attractions in various national parks, indulge in adventurous water sports, enjoy the pleasures of vibrant nightlife, etc.
The property market in Antalya is continuously expanding, offering non-residents countless options of property investment to choose from, be it a budget studio apartment or luxurious villas. By investing in property in Antalya, besides acquiring a comfortable home with impeccable panoramic views, you also get all the amenities on your doorstep.
If you are interested in this area, here you can find more information about Antalya houses for sale.
3. Alanya
Alanya is a scenic seaside resort and one of the districts in Antalya province. It is becoming more and more popular among tourists and is responsible for as much as 30% of foreign investments in Turkish real estate. The place displays a harmonious coexistence of great historical monuments and a vibrant cosmopolitan atmosphere of a fast-developing city.
Whether you consider investing in commercial real estate or prefer to purchase a house, there are lots of options to choose from. It is worth mentioning that the real estate market in Alanya is on the upswing due to considerable investments of the Turkish government in the development of the tourism industry. However, unlike its neighbor Antalya, Alanya attracts potential buyers with first-rate properties available at far more reasonable prices, starting at $55.000.
Here, you can learn more about real estate in Alanya.
4. Bursa
Its splendid mosques, palaces and mansions displaying an intricate style of the Ottoman architecture, renowned thermal baths and hot springs attract more and more visitors and property 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 over many other cities as the area offers affordable properties, starting from $45.000. The transportation link between Bursa and Istanbul has made it even a more accessible and attractive tourist destination, as well as a lucrative investment option.
All available information regarding properties for sale in Bursa, you can learn by visiting the website of the company that specializes in working with overseas customers who wish to own Turkish real estate.
5. Yalova
Yalova is a beautiful city that features emerald-green forests merging with the turquoise waves of the Marmara Sea. It benefits from a number of tourist attractions, including numerous hot springs, spa centers and gurgling waterfalls. A well-developed transportation network connects Yalova to larger cities, which makes it a valuable investment option in the long run.
The real estate market in Yalova is steadily growing, with average property rates slowly increasing year by year. However, prices are still considerably lower than those in Istanbul, which is located within an hour’s drive from Yalova. Besides indulging in all the pleasures of a seaside resort, people who choose to invest in Yalova property have got all the chances to sell it in the future at a higher market value.
Here, you can have a better idea of what is on offer in Yalova.
Advice on buying a property in Turkey
Non-residents, who consider investing in Turkish real estate, should keep in mind the following things:
- Regardless of what you are after: residential, commercial or industrial real estate – you need to seek legal advice from a specialist. Rather than acting on your own, take the time to do some research about available real estate agencies and find the most reputable and reliable one.
- Decide on why you want to own property in Turkey and according to your needs choose the most suitable location. If the purpose of your purchase is to rent it out to tourists, consider buying a property within easy reach from major tourist attractions. On the other hand, if you plan to stay there for a long while, living in an area that usually shuts down in low season might cause many inconveniences.
- Before making a final decision, it is highly recommended going on an inspection tour, in order to get to know the area and check out the condition of the property.
Important notes for non-residents who want to acquire property in Turkey
- Foreigners are allowed to own property, the size of which does not exceed 30 hectares.
- Foreigners are not allowed to buy property in restricted military areas.
- Foreigners are granted the right to apply for Turkish citizenship, provided the value of the estate is worth more than 250 thousand US dollars.
We have given a general outline of what the real estate market in Turkey is like. However, when it comes to the choice among the best destinations for property investment, think of your lifestyle preferences and practical needs.
