Ankara and Antalya: Official and Resort capitals of Turkey

At the top of the most demanded provinces in terms of buying real estate in Turkey, there are two megacities that can be considered the "capitals" of the country: the resort and the official. That is, Antalya and Ankara: the first is the Mecca of foreign investors, the second is gaining popularity as the most stable territory in terms of underground shocks, where there is also work and business thrives all year round, unlike many resort locations that "freeze" (or do not function at all) in winter.

What is the situation with real estate prices in these two "capitals" at the end of the summer of 2023?

As reported by the specialized real estate news portal Emlakjet based on the July report,

• Housing in Ankara has increased in price by 99% over the year and by 3% over the month.
• Housing in Antalya has increased in price by 69% over the year, and by 7% over the month.

Now, about each province separately.

Content:

• ANTALYA
• Prices by the end of August by individual districts:
• Brief conclusions and some important explanations of the indicators in the table:
• ANKARA
• Here are some of the most valuable districts of the capital from an investment point of view:
• Employment, job opportunities and business
• Prices by the end of August by individual districts:

ANTALYA

• According to the latest report from Endeksa, in the "resort capital" of Turkey, as of the beginning of September, the cost of housing over the past 12 months has increased by 111,5%.
• The average price of residential property per 1 m² is $1,124.
• The average area of apartments in Turkey, Antalya is 120 m².
• The average cost of a residential unit is $134,850 (i.e. in order to obtain "citizenship by investment", you need to buy at least 3 such "average" apartments in one transaction or consider a higher price segment).
• The investment return period is now 19 years.

Overall, the dynamics of the average price per 1 m² in the province of Antalya since the beginning of the year are as follows:

• January 2023 – $779;
• February 2023 – $832;
• March 2023 – $878;
• April 2023 – $927;
• May 2023 – $971;
• June 2023 – $1,033 (i.e., the end of the first half of the year became the threshold when the price exceeded the $1,000 mark);
• July 2023 – $1,124;
• August 2023 – $1,121.

Prices by the end of August by individual districts:

Brief conclusions and some important explanations of the indicators in the table:

• The most expensive square meter is in Kaş, as well as the most expensive (on average) plots: 1.5–2, or even 4 times higher than in other areas. Recall that Kaş is an elite resort that foreign investors began to take an interest in not so long ago and in even heard about it relatively recently; however, it was favored by the British a few years ago.
• For the same reason, the longest average payback period is in Kaş: 45 years, while in other areas this figure ranges from 16 to a maximum of 30 years. The reason? Real estate is bought here not so much for resale as for maximum comfort, for example in retirement. And given the very high initial cost of any residence, it is not so easy to sell it; indeed, there are not too many people willing to do so.
• The cheapest square meter is in Elmalı and Korkuteli: $557 and $618 respectively.
• The minimum average area of an apartment (which can save money on the purchase) is in Aksu: 87 m².
• As for the average cost of a housing unit, look for the cheapest in Korkuteli.
• The most expensive housing in terms of average price (excluding Kaş) is in Konyaaltı, Döşemealtı, Kemer, Serik, and Alanya. Kemer and Alanya need no comment. As for Serik: This is a settlement that is as close as possible to the resort area of Belek.
• The minimum average return on investment period is in Kepez (16 years), Muratpaşa (18 years) and Manavgat (19 years). The first two are districts of Antalya; Manavgat is a place where the resort area of Side (which territorially belongs to Manavgat) is located.

ANKARA

Now let's talk about the official capital of the Republic of Turkey, Ankara. At the same time, we will get acquainted with the districts that can be particularly interesting for investors and we will tell you why it is worth paying attention to them.

Remember that Ankara, the second largest metropolis in the country, offers extensive opportunities for business and investment in various sectors. There are also much more employment opportunities than in resorts; for example, in fields such as education, technology, healthcare, and construction.

Here are some of the most valuable districts of the capital from an investment point of view:

1. Çankaya: Central and one of the most prestigious. Embassies and representations of diplomatic missions are concentrated here. Many important historical and cultural sites are also located here.
2. Beştepe. The district where the presidential palace is located. So, for obvious reasons, it is also very significant and quite prestigious if you take an apartment here. The area is known for its natural beauty (by the way, Ankara has many parks and green areas).
3. Bahçelievler. The district where the main campus of Ankara University is located. This is one of the centers of student life in the capital. There is a young and dynamic population here, so the area is full of cafes, bars, cultural and mass events; in general, life is in full swing.
4. Kızılay. A commercial and trade center of Ankara, known for its wide streets, abundance of shops and shopping centers as well as restaurants. This is one of the most active and lively areas of the city.
5. Çayyolu. Popular with families. This is because it has many beautiful parks, green walking areas, interesting shopping centers and, most importantly, high quality schools in terms of education.
6. Oran. Adjacent to the Çankaya district, Oran is the place where high-income families live. Here you will find elite real estate, as well as schools and colleges of international class offering education, including foreign languages.

Employment, job opportunities and business

What kind of work can be found in Ankara, or what kind of new business or venture will be appropriate if you open it: here are some of the most suitable business directions for a foreigner (remember: with the appropriate documents, as a residence permit alone does not give the right to work, citizenship does).

• The restaurant industry and the sale of food and beverages.
• Technology and software development. Many design firms and research centers are located in Ankara. Software, web design and digital marketing are particularly popular.
• The education sector is particularly active in Ankara. You can work in language schools, tutoring is available, as well as educational consulting.
• Arts and crafts. Ankara is an "intellectual" city, so original handmade products are in demand. You can also organize courses such as painting or ceramics or open an exhibition hall or art gallery.
• Social media and digital marketing consulting. Few ordinary citizens in Turkey have these skills.
• Cleaning and maintenance of apartment complexes, offices, etc., are always in demand. You can organize a company that provides these services.
• Travel and tourism agencies.
• Agriculture and organic products. There are many agricultural areas around Ankara, and agricultural products and healthy food are becoming increasingly popular.

However, as mentioned above, it is important to obtain the appropriate licenses and permits, with a competent counselor, it's not hard.

Now to the price range:

• The growth for the year was 125,38%;
• The average cost of 1 m² as of August 2023 is $611;
• The average size of a residential unit is 130 m²;
• The average cost of 1 residential lot is $79,000–480,000;
• The average return on investment period is 13 years.

The dynamics of the average price in Antalya province per 1 m² since the beginning of the year are as follows:

January 2023 – $401;

February 2023 –$436;

March 2023 – $463;

April 2023 – $493;

May 2023 – $525;

June 2023 – $559;

July 2023 – $609;

August 2023 –$672.

Prices by the end of August by individual districts: