Turkey's real estate market is highly diverse, offering flexible investment opportunities, whether in apartments, offices, or commercial shops. Knowing the most dynamic cities is essential for those interested in properties for sale in Turkey.
This article provides an overview of in properties Turkey, in five major Turkish cities, focusing on specifications, prices, and legal ownership procedures.
Benefits of Buying Properties in Turkey
Purchasing properties in Turkey offers several significant advantages, ranging from economic and legal benefits to cultural perks. Here are some key benefits for those looking for property in Turkey:
- Obtaining Turkish Citizenship
By purchasing property worth $400,000 or more, you can qualify for Turkish citizenship. This feature has attracted investors seeking permanent residency or an additional passport.
Turkey’s position between Europe and Asia enhances its proximity to European and Middle Eastern markets, opening up business and trade opportunities in property market.
Compared to many European countries, the cost of living in Turkey is lower, making it an attractive destination for living or retirement.
- Variety of properties Options
Turkey offers a wide range of property options, from apartments to luxurious villas, offices, houses, and shops.
Over the years, the Turkish properties market has seen price increases, making investments profitable.
Turkey has made significant investments in infrastructure, particularly in modern transportation systems that led to a boom in the property market.
Turkey's cultural and historical diversity offers a unique living experience.
From beaches to plains and mountains, Turkey offers an ideal environment for living and recreation.
The government facilitates property purchases for foreigners, offering investor services through government programs and certified property agents.
Apartments in Turkey
For decades, construction has been a priority for successive Turkish governments. While older neighborhoods maintain their traditional charm, other areas have seen significant expansion with modern architecture that adheres to eco-friendly and earthquake-resistant standards.
New spaces have joined the cities, with their municipalities. This diverse housing map caters to all tastes and purchasing power, offering options from old-style homes to modern, minimalist apartments and luxury units. Below are key details for those interested in properties for sale in Turkey:
Istanbul Properties
No Turkish city compares to Istanbul in its variety of properties, from luxury apartments, houses, high-end villas in the suburbs. Popular investment areas include Basaksehir, Maslak, Sisli, and Beylikduzu.
Prices of the properties in Istanbul vary based on location and quality. For example, in the upscale Besiktas district, apartment prices start at $722,000 for a small 1+1 apartment and $1,606,000 for a 140 sqm apartment.
More affordable options of property are available in older areas like Zeytinburnu, where a strategically located apartment can be found for $274,000.
Bursa Properties
Bursa is an ideal destination in Turkey for those seeking a quiet natural environment, yet close to Istanbul. Housing property options range from apartments to beautiful rural villas. Property prices here range from $134,000 to $167,000, making it a favorite for investors looking for reasonable returns at affordable prices.
Trabzon Properties
Trabzon is popular among Arab investors, particularly for its properties overlooking the Black Sea and apartments in areas like Yomra and Akcaabat. Apartment prices in luxurious projects in Akcaabat range from $150,000 to $235,000.
Antalya Properties
Antalya's real estate market is primarily driven by tourism, offering luxury properties, apartments, and stunning villas along the Mediterranean. Popular areas include Lara and Konyaalti. In Konyaalti, property prices in new projects range from $215,000 to $650,000 for apartments.
Bodrum Properties
Bodrum is a renowned tourist destination, known for its upscale properties, from villas to apartments overlooking the Aegean Sea. Residential property prices here range between $150,000 and $2,700,000.
Izmit Properties
Known as an important industrial hub close to Istanbul, Izmit offers good property investment opportunities. Apartment prices range between $50,000 and $120,000, making it more affordable compared to Istanbul.
Commercial properties Prices in Turkey
Many people not only seek education in Turkey but also career opportunities due to its excellent business environment and political and economic stability. This has increased demand for commercial properties. Here’s an overview:
In central areas like Sisli and Besiktas, property prices vary, offices can reach around $3.3 million for luxury projects such as "Quasar Istanbul" in Sisli. In other areas like Florya and Kadikoy, prices of the properties range from $393,000 to $590,000 in Taksim.
As for commercial property, shop prices start at around $20,000 in areas like Esenyurt and go beyond $400,000 in areas like Beylikduzu.
Property prices in Bursa are more economical compared to Istanbul, with office prices starting at about $39,500 in areas like Nilufer. Shop prices start from around $50,000.
Trabzon is a relatively affordable city, with commercial property prices ranging from $30,000 to $100,000, depending on location and size.
As a top tourist destination, Antalya sees high demand for commercial properties. The property price starts from around $50,000 and can reach about $300,000 in prime areas.
Due to its tourist fame, Bodrum is known for its relatively high prices of properties, with commercial shops and office prices starting from about $100,000 and exceeding $500,000 in upscale areas.
As an industrial and commercial hub, Izmit offers commercial properties priced between $40,000 and $150,000.
Are Property Ownership Procedures in Turkey Complicated?
For those looking for properties in Turkey, it’s important to understand the relatively simple ownership process, thanks to recent government reforms. Here are the basic steps to owning property in Turkey:
- Obtain a tax number from any local tax office.
- Open a bank account in Turkey, which requires a passport, tax number, and proof of address.
- Conduct a legal check to ensure the property is free from debt or legal issues. You can hire a lawyer or property agent for this task.
- Sign a sales contract with the seller, detailing the property’s price, payment method, and delivery date.
- Obtain the title deed (Tapu) from the Land Registry Office after paying the required government fees.
- Register the property with the local municipality and pay annual property taxes.
