Real Estate in Turkey

Location, climate, and economy

Turkey (officially the Republic of Turkey) is a country located mainly in Asia and only in a small part in Europe. The basis of the territory of Turkey is the peninsula of Asia Minor. The country is bordered by the Black Sea - in the north, the Aegean - in the west, the Marmara - in the northwest, the Mediterranean - in the south. Turkey is a member of NATO, Council of Europe, and a candidate member of the European Union.

Turkey is a mountainous country, the climate depends on the altitudinal zonality. In the central part - temperate continental with hot, dry summers, and rather cold winters. On the coast of the Mediterranean and Aegean Seas - Mediterranean climate with very hot summers and mild winters, in the Black Sea coast zone - subtropical with hot summers and cool rainy winters (rare negative temperatures).

In the total volume of industrial production, the manufacturing industry occupies the largest share; textile, leather, food, chemical, pharmaceutical industries, energy, metallurgy, shipbuilding, automotive industry, and the production of electrical household goods are also developed. Tourism is the most important industry.

Market and real estate prices in Turkey

Demand for real estate is growing and has become a rush in recent years. As a result, experts state a steady rise in prices, their forecasts provide for the continuation of this trend in the medium term. The cost of real estate in Turkey has risen, primarily due to force majeure geopolitical processes and the influx of immigrants actively buying and renting housing. Entrepreneurial investors take advantage of the situation and purchase apartments for rent. Significantly more expensive housing is in Istanbul, Antalya, Mersin and other major cities.

The Turkish Mediterranean is actively built up, and this still gives buyers the opportunity to purchase real estate in active development locations cheaper. However, Turkish real estate, which is undervalued today, as the popularity of the country grows among investors, will inevitably take on new price horizons here as well.

The increase in cost is also associated with the rise in the cost of building materials, the population of the country is also increasing, stimulating domestic demand. Hence the conclusion: right now is the best time to buy property in Turkey.

Among the main advantages of Turkey as a country for investment are following:

• protection of property rights for foreign investors;
• continuous development of cities,
• positive attitude towards foreign buyers,
• warm climate,
•  high quality construction,
•  relatively simple acquisition of citizenship upon acquisition of real estate for a certain amount of purchase.

Average prices in Turkey:

•  budget segment apartments - 35,000 euros,
•  luxury apartments - 250,000 euros,
•  individual residential building - 150,000 euros,
•  non-agricultural land - 60 euros per sq.m.

The most expensive land is in big cities. The cost of 5 acres can cost from 600,000 TRY, while in Alanya such a plot can be bought for 500,000 TRY. In Alanya, a land plot 6 km from the coastline can be bought within 1-1.5 million Turkish liras. The closer to the sea, the higher the cost. It should be understood that price values are in dynamics and you should use up-to-date information.

Property types for sale

Real estate is represented in the country by: primary and secondary housing, commercial fund (warehouse, retail, office facilities, etc.), and vacant land plots. The market also offers individual residential buildings (villas), townhouses, apartments, and two-story apartments (duplexes).

Real estate website in Turkey (full catalog)

It is safer to use the information of experts and follow their recommendations. Investors and buyers, can be helped by the GEOLN.COM website, where there are many objects for sale.

Buying property in Turkey: the nuances of choice

In Turkey, the total area includes all utility and technical rooms, including the balcony. When choosing an apartment, it is important to choose a comfortable layout and study the floor plan. It makes sense to pay attention to the primary market: modern premises in residential complexes, apartments, houses built using the latest technologies, customer reviews confirm compliance with all regulations and standards.

As for the purchase of land, there is not much free land in Turkey, and the purchase process is a responsible matter. When conducting a transaction, buyers need to know the specifics of the country's legislation and the rules for registering land plots as property. Foreigners are not allowed to acquire agricultural land unless the purchase is made for investment in agriculture. The best option is to purchase a land plot for the construction of residential or commercial facilities.

Purchasing real estate in sunny Turkey is an investment that gives you the right to receive high rental income, live and do business in a country with a developed economy and beautiful nature, healing climate, and relax in the resorts of the Mediterranean Sea.