Mersin has recently become especially attractive to investors. This province has already entered the Top 3 of the fastest-growing investment locations and is in the Top 3 in terms of the number of apartments sold to foreigners.
You will not find an apartment for rent here now for love or money. Sometimes you can find something for rent, but the properties are of such poor quality that no one would like to stay there. All decent residences have been surrendered; the average rent here is about USD 500 per month.
As for the sale prices, just a few years ago realtors had to persuade buyers to buy an apartment in Mersin for USD 20,000, but now properties in new developments with an average cost of USD 60,000 are sold like hotcakes: no one needs to be persuaded.
Development companies and branches of large real estate companies poured into Mersin, and everyone had enough jobs and buyers.
What is so special here in Mersin?
Content:
- Transport accessibility
- City and Climate
- Districts and obtaining a residence permit
- Which areas is it better to choose for buying real estate and why
- Other reasons to purchase real estate in Mersin
- Conclusion
Transport accessibility
Undoubtedly, a strong impetus to the region’s development was given by the construction of Akkuyu NPP, the first nuclear power plant in Turkey. But this is not the only reason. Mersin is quickly turning into a transport and industrial hub with a resort setting.
In terms of transport accessibility, this coastal region could be reached by air earlier, arriving at Adana airport, or by car/bus (it took 8 hours to get here from Antalya by bus).
Since there are many direct flights from Adana to several German cities, there are many Germans living here in Mersin. People from Russia now arrive here by connecting flights, via Istanbul, Antalya, and so on.
But very soon, probably in 2023, a new international airport will be opened near Mersin. It will be one of the largest airports not only in Turkey but also, possibly, in Europe, with a capacity of several dozens of millions of passengers per year. Of course, there will also be direct flights to Moscow, and eventually, perhaps, to other cities of the Russian Federation.
The runway is almost ready, as is the design of the airport facility.
A metro will also be built in Mersin, and construction is already underway.
All this affects the rise in real estate prices, including residential property prices.
City and Climate
Mersin is, so to say, an extremely comfortable "village" (in the best, cosy sense of the word) with a population of about two million people.
Mersin is located roughly opposite Cyprus, 550 kilometres east of Antalya. Moreover, the climate here is much better than in the humid Antalya: all the extra humidity is "pulled away" by the mountains, and it is quite comfortable to stay outdoors all day long in summer at a temperature of between 30 and 35 degrees Celsius.
Winter here is short and not cold; the swimming season lasts from April to November.
The city kind of stretches along the sea, so it is impossible to get lost here. There is almost no heavy traffic here. Embankments and sandy beaches last dozens of kilometres; just to clarify, the beach area starts from Mezitli.
In general, Mersin has as much as 100 kilometres of coastline. There is a beautiful waterfront area 18 kilometres long, no worse than in Miami, as experts assure; great social areas, shops and stores and prime restaurants. True, there are no Russian schools yet, but there are educational institutions with English-speaking tutors. Mersin also has a university for 18,000 students: this is nearly a town, just a bit less than Moscow State University.
Getting back to traffic and roads. Currently, they are gradually connecting the airport access roads to the local Mersinian fragment of the highway; so the road from the airport will take no more than half an hour. There is a freeway along the city. Mersin also has its seaport, a very large one.
The city is independent, and with active trade: it has everything you need for comfortable long-term living. Moreover, life here is still cheaper than in many other Turkish regions.
Real estate here is still cheaper than in many other locations. Property investments, taking into account the extremely rapidly growing real estate prices, are very profitable.
Districts and obtaining a residence permit
The province of Mersin is divided into 13 districts; 4 of them refer directly to the city of Mersin.
We’ll name the districts: Erdemli, Tarsus, Silifke, Çamlıyayla, Mut, Gulnar, Bozyazi, Anamur, Mezitli, Akdeniz, Toroslar, Yenişehir, Aydıncık.
The four city districts are:
- Akdeniz is territorial, just geographical, centre, which in the case of Mersin does not mean "the centre of social life": there are three plants (an oil refinery, cement, and glass plants), numerous offices, but not the best environment. Yes, and residents are not the nicest people in Turkey.
- Mezitli is a key area for foreigners and expats living here: very beautiful and comfortable, famous for the Tece quarter. It is Mezitli and Tece, that are priority areas for investing in Mersin.
- Toroslar is the largest district of the city, but somewhat away from the sea; however, there is amazing nature and an excellent environment.
- Yenişehir is an area near the sea, with excellent infrastructure, shopping centres, fitness studios, shops, restaurants, and more. Mersin University, by the way, is also situated here.
We should especially note Erdemli: it is not quite a city, but a suburb. The city is also loved by foreign buyers. Especially the Tömük district, which is developing very quickly. It is also worth taking a closer look at Arpaçbahşiş: it is sought-after as very attractive in terms of purchasing real estate.
It is very fortunate that in Mersin those areas that are “closed” for obtaining a primary residence permit by the right of real estate ownership (we wrote about an interactive map of areas available for obtaining a residence permit here) are of no interest to foreigners, and potentially interesting areas are open for residence permit investments.
At the moment, the "closed" areas are concentrated mainly in Toroslar, Tarsus, Silifke, Mezitli, and Akdeniz; there are two more such areas in Yenişehir.
Which areas is it better to choose for buying real estate and why
So which areas should be considered first? It depends on your goals and priorities (live/rent/sell), and last but not least, the purchase budget.
Here are several tips:
- Turks prefer to live in Mezitli. And the Turks love space; so, you will not find a 1+1 option here, 2+1 is extremely rare. Usually it is 3+1, 4+1, 5+1 options.
- Tece: an excellent choice: there are schools, and additional ones are being constructed. Popular everyday bazaars are located right there. The transport is good here, and it will take you 15 to 20 minutes to get to Mersin Marina, the party centre with shops, restaurants, etc., by public transport. There are both 1+1 and 2+1 options; so Tece is a great place for both investment and living.
- Tömü and Arpaçbahşiş: beautiful beaches. We report this for those who wish to live right next to the sea and swim as often as possible. A waterfront promenade, a bike path, an illuminated walking area: there are numerous opportunities to spend as much time as possible in the open air.
- If you need areas with gas to heat your home (in Turkey, we should say, not all coastal cities have the possibility of heating houses in winter. There are heated properties on offer actually in Mersin, though the heating here is often hidden in the floors), then these are Mezitli and Tece.
- Tömük attracts investors with communities with an additional “bonus” room: the layouts here are such that 1+1 is a full-fledged Russian two-room apartment, and 2+1 can turn out to be a three-room apartment with two bedrooms, two bathrooms, a living room, and a full-fledged kitchen, all this for USD 80,000.
Other reasons to purchase real estate in Mersin
The main advantages of residential real estate in Mersin are the apartment area, nice location, proximity to the sea and the view from the windows (so the height/floor are important). After all, we recall that Mersin is stretched along the sea; and here people buy property to enjoy the views from the windows.
The higher the floor, the better the view and the more expensive the apartment. So, with each floor, the same layout gets $1000 or more expensive.
For the same reason, apartments with floor-to-ceiling windows are not uncommon here. So, the views of the mountains, the sea, and the city will be astonishing.
Gasification of an apartment (for heating) does not affect the property cost.
Apartments are becoming more expensive by leaps and bounds in the literal sense of the word: 30% of residences in new developments are sold at the beginning of construction, and when the facility is nearly completed, there is usually nothing to buy in good communities: all properties have already found their owners.
For the same reason, you don’t have to worry if you didn’t like something in the purchased housing, or you changed your mind and decided to change the area, buy a larger residence, etc. If the apartment was bought before the facility was put into operation, then it would be sold for a decent profit. Even if you sell it just a few months after purchasing. Developers add USD 2,000 to USD 10,000 monthly for each lot (depending on the apartment features).
Conclusion
There are forecasts that prices in Mersin will double in 2023. These forecasts are generally not unreasonable.
So if you have the desire and opportunity to buy housing now, then do it. If you change your mind, just resell it. Moreover, as they say, you can grab it without looking (if you have funds for several lots, at least for the entry fee): one person can easily purchase "for himself" up to 10 apartments per year. It means that if you buy no more than 10 apartments, the Turkish regulatory authorities do not have any questions. After that, you can decide what to do: whether to rent or sell your property. If you decide to sell your real estate, then you should ponder over whether to do it quickly or wait a few years.
Once again we remind you of the importance of applying to trusted developers and licensed agencies only to purchase a property.