As of September 2024, data indicates that housing prices in Ankara have risen by 29% over the past 12 months. The typical price of an apartment in this area remains lower than in Istanbul, Izmir and other more expensive locations, at around TL 3 million (approximately USD 86,000).
In October 2024, this trend continued, with the capital experiencing one of the largest price surges in real estate in Turkey, with a 32.5% year-on-year increase compared to October 2023.
Content:
- The top places for residing and investing successfully
- Emek (Mahalle Emek)
- Kavaklıdere
- Bahçelievler
- Çankaya
- Kızılay
- Ulus
- Sıhhıye
- Esat
- Tunalı
- Gaziosmanpaşa
- Anıttepe
- Oran
- Golfkent
- Mamak
- You can consider the following features
What factors contribute to the capital's appeal to housing investors? In Ankara, you can manage with smaller investments, even on a tight budget or purchase several properties for the same amount required to buy a single home in Istanbul, Bodrum or Çeşme.
Consequently, numerous prospective buyers, including those from overseas, are viewing Ankara as a key destination, even though this city is not situated near the coast. However, it offers several significant advantages:
- It’s located in a region with relatively low seismic activity;
- It boasts an international airport offering direct flight options from Moscow;
- It’s home to numerous universities and reputable medical institutions.
As reported by the analytical real estate valuation platform Endeksa, the cost per square metre of housing rose by 29.36% in September 2024 compared to the same month last year, bringing the value to TL 22,841 (USD 654).
However, this is the average price; in well-known regions like Çankaya and Gölbaşı, prices can be twice as high as in less sought-after areas such as Haymana and Polatlı (which we will discuss below).
Here is the average cost of typical 100 square metre apartments in Turkey by district, starting with the most budget-friendly:
- Şereflikoçhisar — TL 1,3 million (USD 37,000)
- Haymana — TL 1,4 million (USD 40,600)
- Polatlı — TL 1,5 million (USD 43,500)
- Akyurt — TL 1,6 million USD 46,400)
- Beypazarı — TL 1,7 million (USD 49,300)
- Nallıhan — TL 1,7 million (USD 49,300)
- Sincan — TL 1,8 million (USD 52,200)
- Mamak — TL 1,8 million (USD 52,200)
- Altındağ — TL 1,9 million (USD 55,100)
- Kahramankazan — TL 1,9 million (USD 55,100)
- Kızılcahamam – TL 2 million (USD 58,000)
- Keçiören — TL 2 million (USD 58,000)
- Elmadağ — TL 2 million (USD 58,000)
- Pursaklar — TL 2,2 million (USD 63,800)
- Çubuk — TL 2,2 million (USD 63,800)
- Ayyaş — TL 2,3 million (USD 66,700)
- Etimesgut — TL 2,6 million (USD 75,400)
- Yenimahalle — TL 2,7 million (USD 78,300)
- Bala — TL 2,8 million (USD 81,200)
- Çamlıdere — TL 3,3 million (USD 95,700)
- Çankaya — TL 3,4 million (USD 98,600)
- Gölbaşı — TL 4,2 million (USD 121,800)
The top places for residing and investing successfully
Ankara is typically a delightful city for purchasing apartments in development projects in Turkey. It’s less crowded and noisy than Istanbul and more forward-thinking in some respects. However, home buyers particularly after seeking certain areas. Let’s explore the most favoured regions.
Emek (Mahalle Emek)
Emek, located near the bus station and surrounded by parks, is recognised as one of the most favoured neighbourhoods. It’s particularly sought after by students and retirees for its peaceful atmosphere. As one of the city's oldest communities, Emek also offers outstanding transportation links. Additionally, its proximity to prominent universities makes it a key location for students, both enrolled and others.
Kavaklıdere
Kavaklıdere is another historical site in Ankara named after the stream that runs beneath it. It offers a pleasant environment for both strolling and living. However, property prices in Kavaklıdere are higher compared to other regions.
Bahçelievler
The region received its name because it was originally home to houses with gardens, which is reflected in the Turkish translation as "houses with gardens". Located between two central streets, young people particularly favour this region.
Çankaya
Çankaya is the core region of the city and is considered the most socially advanced. It features the finest and priciest residential structures and is home to a population of roughly one million people. Some refer to it as "a city within a city." The area boasts various establishments, cafês, entertainment, social amenities, parks and diverse recreational activities, all within walking distance.
Kızılay
Kızılay, located in the Çankaya area, is one of the city’s strongest transport hubs, offering easy access to every part of Ankara. The area also features broad walkways lined with cafês and shops, alongside nearby shopping malls. Over time, Kızılay has become a well-known term, even used to describe geographical locations. The phrase "10 minutes from Kızılay" is often considered the highest praise for any type of real estate, including villas in Turkey.
Ulus
Ulus is one of the capital’s most ancient neighbourhoods. There are rumours that Ankara has two hearts: one being Kızılay and the other Ulus. It’s part of the Altındağ district and is filled with historic structures, old pathways and mosques. The ambience of the area evokes memories of Istanbul. Additionally, the fortress and castle of Ankara are within walking distance. Nearby, you’ll find a large theme park and international hotel brands.
Sıhhıye
Sıhhıye is located between Kızılay and Ulus but geographically belongs to the district of Çankaya. This area is home to numerous hospitals, university campuses, walking areas and small parks. With its central location, Sıhhıye is a modern, lively and interesting area.
Esat
Esat is a paradise for shopping enthusiasts. You can bargain with any seller along its long streets, which are lined with shopping malls.
Tunalı
Tunalı is a highly social district in Ankara bustling at all times of the day and throughout the year. It’s home to cafês, eateries and shops, with communication and large events taking priority here.
Gaziosmanpaşa
Gaziosmanpaşa is a prestigious region in one of Ankara's oldest inhabited areas. It stands out due to the numerous embassies located here.
Anıttepe
The vicinity of Anıtkabir, which houses the tomb of Turkey's cherished leader, Mustafa Kemal Atatürk, is a fascinating location "rich in history." It’s also home to some of the city's top restaurants.
Oran
Many famous politicians have lived in this area. Another advantage of Oran is its location on one of the highest points in Ankara.
Golfkent
Golfkent is one of the newer, yet rapidly developing areas. Located along the route to Eskişehir, it’s a popular area for families and students at urban universities. Golfkent is close to Çankaya University, Başkent University, Bilkent University and METU. Living here offers a secure and tranquil environment, with less noise compared to the centre. As a result, Golfkent has become the "new focal point of interest."
Mamak
Mamak is a residential area located away from the downtown. However, you can find low-cost housing options here, with large apartments in development projects in Turkey available at an excellent price.
You can consider the following features
- The TOP 3 most expensive districts are Gölbaşı, Çankaya and Çamlıdere;
- The most affordable locations are Polatlı (USD 447 on average per 1 m²), Haymana (USD 414), Şereflikoçhisar (USD 398) and Beypazarı (USD 511);
- The fastest payback period was recorded in Beypazarı (10 years), while it stands at 11 years in Etimesgut, Sincan, Mamak, Şereflikoçhisar and Kızılcahamam.
In conclusion, here are some overall figures (as of December 01, 2024, from the analytical platform Endeksa):
- The average price per 1 m² of residential property in Ankara province is USD 720;
- The highest price is USD 1,516;
- The typical size of an apartment is 130 m²;
- The average payback period in Ankara is relatively brief, reduced to 12 years.