Turkey is a country with huge investment potential, which also covers the real estate market.
Today, thousands of foreigners are thinking about buying an apartment or house in Turkey.
Let's try to navigate through the Turkish housing prices and see what you can buy with a budget up to 500,000 lira (about €60,000).
PROPERTY PRICES IN TURKEY
Let's take the most popular cities among foreign buyers: Antalya, Istanbul, Izmir, Bodrum, Mersin, Ankara, Alanya and Marmaris. The average price of an apartment with a living space of about 100 sq m looks like this:
| Region | Average price (Turkish lira) | Minimum price (Turkish lira) | Maximum price (Turkish lira) |
|---|---|---|---|
| Antalya | 257,957 | 193,468 | 322,446 |
| Istanbul | 429,666 | 322,250 | 537,083 |
| Izmir | 340,473 | 255,355 | 425,591 |
| Bodrum | 646,247 | 484,685 | 807,809 |
| Mersin | 166,111 | 124,583 | 207,639 |
| Ankara | 205,211 | 153,908 | 256,514 |
| Alanya | 342,681 | 257,011 | 428,351 |
| Marmaris | 500,602 | 375,452 | 625,753 |
WHAT TURKISH PROPERTY WEBSITES OFFER
Here are examples of property listings posted on Turkish real estate websites.
1.TL 485,000: 3+1 apartment in Antalya (120 m2) in the quiet, prestigious district of Ungali, but in some distance from the sea. A development project with a swimming pool and fitness room.
2. TL 475,000: 2+1 apartment in Antalya, (90 sq m) in Liman (close to the sea). A development project with a wide set of amenities (a swimming pool, car park, children's and sports grounds, etc.).
3. TL 485,000: 3+1 apartment in Istanbul, (125 sq m) in Eyüpsultan. An ordinary Turkish apartment building with no additional amenities.
4. TL 450,000: 3+1 apartment, (135 sq m) in Karşıyaka. An ordinary Turkish apartment building with no additional amenities.
5. TL 480,000: 1+1 apartment in Bodrum, (50 sq m) in Bitez, a development project with a swimming pool.
6. TL 465,000: 2+1 apartment in Bodrum, (75 sq m). An ordinary Turkish apartment building with no additional amenities.
7. TL 450,000: 1+1 apartment in Marmaris, (58 sq m) after renovation. An ordinary Turkish apartment building with no additional amenities, not far from a public hospital.
8. TL 490,000: 4+1 apartment in Ankara, (155 sq m) in one of the most comfortable, quiet districts - Çankaya. The apartment building with a common adjoining territory, an elevator and a parking lot.
9. TL 470,000: 2+1 apartment in Alanya (125 sq m) in the popular among foreigners district of Cikcilli, behind the Alanium shopping center, 850 m from the beach and promenade. The development project with a wide set of amenities (a swimming pool, car park, children's and sports grounds, etc.).
The highest real estate prices in Turkey (in relation to the living space of an apartment) are observed on the Aegean coast. The Aegean region is most popular with Europeans (especially British residents). As for the Turkey's biggest cities, the cost of real estate there directly depends on the districts: their transport accessibility and how developed the urban infrastructure is. For example, in Istanbul, the difference in the value of real estate from one district to another can vary within 30 percent!