Feb 5, 2023

Turkey Real Estate: Cities Attract the Attention of Investors

In a new research listing the top twenty-five markets for real estate investment in the world, Turkey real estate ranked 14th, surpassing countries such as Spain, Portugal and Greece thanks to its affordable prices, growth prospects and stable tourism market.

To explain more about Turkey real estate market, Turkey real estate sales to foreigners have increased significantly after the reciprocity law that was launched in 2013, which has contributed to the country's real estate sector, which has emerged to the fore as one of the leading markets along the Mediterranean coast. These laws and regulations have made the country more competitive and also stood it in good stead.

Income from foreign sales has exceeded more than $6 billion in Turkey since the implementation of the reciprocity law, breathing new life into the sector. Turkey real estate sales to foreigners are increasing every year as demand diversifies.

Big cities in Turkey

Today, many Turkish cities have jumped to the world rankings, whether in tourism or in the stable and distinguished Turkey real estate market. We will review the most important of these cities in Turkey:

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Istanbul

The center of all commercial investments, Istanbul has always maintained its first place among the most developed cities in the world. With a population of 15 million, its historical texture and beauty are accepted as one of the major cities. Being one of the finest investment platforms, every investment made in any area of Istanbul increases its value. However, according to Turkey real estate reports, the most profitable and valuable areas include; Besiktas, Sariyer and Bakirkoy. Bebek is the leading district of Levent, Levazim and Akatlar which are the most profitable locations in Besiktas.

Bahcelievler and Bakirkoy-Yesilyurt are the regions that present a large number of annual increases of about 27%. Tarabya in Sariyer, Gunesli Neighborhood in Bagcilar, Kucukcekmece and Fatih Kocatepe neighborhoods in Bayrampasa and Mimar Sinan in Büyükçekmece are also locations with a 22% profit rate.

The rate of potential income for stores in these locations as well as in other areas of Istanbul is very high. It is safe to say that the best opportunities for investment are in Istanbul.

It is worth noting that the areas around the new strategic projects, such as Kucukcekmece and Avcilar, which are close to the New Istanbul Canal project, and Atasehir and Umraniye, which are close to the new financial center, are among the most sought-after areas for investment in Turkey real estate.

Bodrum- Mugla

Outside of Istanbul, there are 15 other districts with the highest Turkey real estate sales and rental rates per square meter. Located in the cities of Izmir and Mugla, these neighborhoods are ideal for tourism investors and are a rare find for construction investors.

With a stunning location between the Mediterranean and the Aegean Sea, Mugla remains one of the most successful tourist cities with Marmaris, Fethiye, Bodrum and many more beautiful areas.

With recent investments in the region, Ortakent district of Bodrum ranks first in line with an annual price change rate of 20.6%. Datca İskele district in Mugla and Konacik district of Bodrum is also generating 14% profit rate. While the prices per square meter were about 6.421 TL in Ortakent, it was 5.274 TL in Konacik and 4.241 TL in Iskele.

Izmir

Izmir is one of the important tourist cities with a population of 4.28 million but becomes double that number during the summer. One of the most suitable locations for investment in Turkey real estate with its ancient cities, natural beauty, beaches and diverse city activities.

According to real estate reports, some of the neighborhoods we mentioned earlier are located in Izmir. These include Mavişehir connected to Karsiyaka, Atakent and Bostanli districts, Narlidere-Yenikale, Narli and Ilica districts.

Annual rates of change in prices in Kazim Dirik, Guzelbahce and Yali districts of Bornova, range from 13.3% to 26.8%. Exquisite collective housing projects and luxury commercial store projects are prominent investment vehicles in Izmir. Apart from those five-star hotel projects, shops and beaches overlooking the sea, the investments of Grand Mall stores are in high demand in Izmir.

Balikesir

Balikesir is one of the most important Marmara and Aegean cities in Turkey, which draws attention with its growing population. Balikesir has a beach on both seas. Balikesir has gained more importance since the announcement that the Canakkale Strait Bridge will be over Balikesir. In a city that has developed in terms of industry, it also receives a large amount of investment in Turkey real estate especially in the Organized Industrial Zone.

There are also great efforts by the Balıkesir Trade Office to attract more investors to the region. Balikesir is described as a city that is very open to development and is gaining importance in terms of logistics. Edremit is famous for being a very suitable area for tourism investments.

Balikesir is also very ideal for those looking to invest in seasonal and health tourism. With 22 islands, the great city has occupied an important place among the commercial investment cities in Turkey with its quality.

Tekirdag

One of the closest cities to Istanbul, Tekirdag is an ideal city for long and short term Turkey real estate investment.

Possible areas of investment in Tekirdag are listed as follows: food, agriculture, education, tourism, services, textile and other sectors.

The most profitable aspect of investing in Tekirdag is its proximity to the Turkish-European border. Being a bridge between Europe and Asia, Tekirdag is one of the cities that establish connections with both highways and railways.

Being very rich in many agricultural lands, Tekirdag also gains more value with its natural beauty and beaches with historical artifacts that attract tourism investments.

Ankara

Ankara, the capital of the Turkish Republic, is one of the cities of great importance among the commercial investment cities in Turkey. Ankara offers many universities and industrial zones. The most important public organizations, ministries and international institutions are also located in Ankara.

Ankara has been ranked among the "most liveable cities in Turkey" since 2008, and it is one of the best opportunities for investment in the construction sector. Especially in Çankaya there are many residential projects and shops projects for investment. Being also one of the most prominent cities in the defense industry, Ankara is also suitable for investment in the education, service, tourism and food sectors.

The most important advantage of Ankara is the ease of transportation to anywhere in Turkey and thus in Europe and Asia, in a short period of time.

Finally, real estate investment is one of the types of investment that achieve the greatest profit. While choosing this type of investment, there are a few things you should pay attention to; The conditions and possibilities of the investment area must be particularly taken into account, and the location of the property, billing squares and functions must be evaluated with proper foresight. Research conducted on real estate investment sites emphasizes the need to pay attention to the economic developments of cities.

Primarily, the importance of researching high-profit properties, examining analyzes and evaluations. As in some cities in Turkey, house profit income is high. In other cities, business investments in Turkey provide an opportunity to make more profits. Foreigners looking to invest in Turkey pay close attention to the development trends taking place in the cities.

If you want to know more about real estate investment in Turkey, do not hesitate to contact us via WhatsApp, here. Your international real estate consultant will contact you as soon as possible.

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