Izmir is the third most populated city in Turkey and the second largest port in the country after Istanbul. Located on the shores of the Izmir Gulf of the Aegean Sea. It is an important commercial and tourist center, a popular resort that attracts the attention of tourists from all over the world.
The climate is typically Mediterranean, with hot, dry summers and mild, rainy winters.
According to the Turkish Wind Energy Association (TÜREB), the economic importance of the region is high (Izmir accounts for $10.2 billion of exports and $7.5 billion of the country's imports). A large number of industrial enterprises are concentrated here. Traditional industries (textile and food) are also developed; tourism is actively developing. Izmir occupies an important place in the country's foreign trade (second after Istanbul).
How to profitably buy an apartment in Izmir: offers on the market
Demand in the secondary real estate market of Izmir is increasing every year. First of all, this is due to the fact that the infrastructure of the city is perfect for both short-term recreation and permanent residence. Among other reasons for the attractiveness of investments in apartments in Izmir and the growth in demand, experts name:
a large labor market, a high level of security and a rich cultural life of the city;
- obtaining a stable income throughout the year (housing is rented not only by tourists, but also by specialists who come to work in the city);
- low investment threshold (the minimum amount for the purchase of housing is 50 thousand euros);
- high liquidity (apartments in Izmir are especially easy to sell);
- constant rise in house prices.
The secondary market offers a wide range of quality apartments (luxury, studios, one-room and two-room apartments, etc.). Buying a home in Izmir is very profitable. Owners of apartments in the region from year to year receive more and more rental income, thanks to the growing number of tourists (profit is 4-7% per year).
The most attractive areas of Izmir for buying an apartment are Konak (the historical and tourist center of the city) or Karsiyaka (a family area where an apartment is considered an excellent investment). For investors who are interested in resort Izmir, it is worth buying an apartment in the seaside area of Güzelbakhce or Balkov.
Website for buying and selling apartments in Izmir
The GEOLN.COM real estate website with a convenient search interface helps investors to find and buy an apartment in Izmir inexpensively, thanks to which you can quickly and easily find an apartment without intermediaries according to the necessary parameters, use the advice of specialists. The catalog contains verified objects of the city, which are placed on the site by homeowners on their own.
Prices for apartments in Izmir
Rapid economic growth and demand for Izmir residential properties from foreign buyers has led to the fact that the city entered the world ten as the destination with the highest growth rates for apartments (over the past 5 years, prices have increased by 90%, despite the fact that the national average is 50%.
Prices for apartments in Izmir depend on the location of the object (area, proximity to the sea), its area, year of construction, condition (repair), starting from 800 euros per square meter.
The cost of two-three-room apartments varies between 55-500 thousand euros, on average it is 80-350 thousand euros. The most expensive housing is luxury apartments by the sea (from 150 thousand euros for a one-room apartment). Cheap apartments in Izmir can be purchased in a quiet residential area of Buka (the price of a one-room apartment of 50 sq.m. is 24 thousand euros).
How to buy an apartment in Izmir: the nuances of investing
The purchase and sale of an apartment in Izmir is not overloaded with bureaucratic procedures and can be carried out in the shortest possible time. Citizens of other countries can freely purchase an apartment on the local market (except for housing located in the zone of military facilities).
One of the most important features of the process of acquiring housing in Izmir is access to Turkish citizenship (investment in real estate in the amount of 400 thousand dollars allows a foreigner to obtain citizenship of the Republic of Turkey).
Before buying (especially remotely), we recommend not only viewing the photo of the selected object, but also reading the reviews of the residents of the house. We suggest that you seek qualified assistance from specialists to minimize risks and losses. GEOLN experts carry out a high-quality selection of an apartment from the owners according to individual parameters. The purchase and sale of apartments in Izmir is accompanied by professionals who provide the preparation of the necessary documents, the complex execution of transactions.
Buying a home in Izmir is a profitable investment with a high level of return. This is an opportunity to live and relax in a unique city, which is considered the pearl of the Aegean due to its developed infrastructure, characteristic tourist resorts and picturesque nature.