Feb 5, 2023

The Cheapest Areas to Buy Real Estate in Turkey 2024

Real estate buyers often ask, where to find the cheapest real estate in Turkey? According to the amount of money they have. Here we must stop for a moment to explain some things, which is that when buying a property anywhere in the world, there is more than its price that must be taken into consideration.

In Turkey, properties for sale are much cheaper than in most countries. Yet, buying a property is an investment for your financial future, i.e. your net worth. To combine the two matters, we have chosen Turkey for you, to buy cheap real estate in Turkey. We will also mention to you the best places there in terms of price, the factors that affect it, and the important aspects of preserving your money and investing it in the right way.

In this article, we'll take a look at where there are cheap real estate in Turkey, for sale and other factors about the housing market that buyers should consider.

Best places to buy cheap real estate in Turkey

Cheap real estate in Altinkum - Didim

Altinkum, also known as Didim, is one of the best places to buy cheap real estate in Turkey. It is also favorite destination for British tourists and homebuyers. With an average property price starting around $45,000, the area has a large community of retired expats, some of whom are renters while others have embarked on a property hunt to find their dream home. There are several reasons why properties for sale are exceptionally cheap here, t he most important of them is because of the abundance of houses in the market and the land available for construction, which keeps real estate prices low.

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Cheap real estate in Trabzon

Trabzon is an ideal place to search for cheap real estate in Turkey and for real estate investment because, like Didim, it has been late in investing in the Turkish real estate market. In addition, Trabzon houses for sale do not get the same amount of attention as other destinations such as Istanbul and the coasts of the Aegean and the Mediterranean. The region is particularly different that Europeans flock to the south and west coast, Trabzon mainly attracts Middle Eastern property buyers who are interested in family homes due to the conservative atmosphere. A variety of neighborhoods sparkle with the construction of new homes, and some of them have balcony duplexes with a wonderful sea view.

Cheap real estate in Dalaman

If you want a quiet retirement destination that brings you back into contact with nature, consider the Dalaman region. Most visitors know it because of the international airport, but the area has done an excellent job of building residential properties in style. Any real estate investor or home buyer looking for cheap real estate in Turkey should keep in mind an initial budget of $45,000. This will result in an apartment in a complex, often with public facilities such as a swimming pool. European buyers looking to relocate will love Dalaman, thanks to the international flights offered by the nearby airport.

Cheap real estate in Istanbul

One look at the property listings in Istanbul, you will realize that this is the most developed housing market in Turkey. Cheap real estate in Turkey could also be found in Istanbul and could bring together buyers and sellers from all over the world. Although there are prestigious areas to buy a property in, Istanbul is expanding on the outskirts of the European side, which has attracted the attention of many international investors. Real estate for sale include every type you can imagine, including mansions with prices up to one million pounds. However, locals and foreigners invest in off-plan projects, and some offer long-term, interest-free payment plans of up to five years.

Cheap real estate in Alanya

Homebuyers looking for properties to spend their annual vacation often choose Alanya, with prices starting at around $45,000. Suburbs like Mahmutlar show a lot of hope for long-term value growth and because the local council has invested a lot in local infrastructure. In addition, real estate sales are constantly increasing due to it being a tourist area where residents come from all over the world. We can say here that it is one of the areas that contain cheap real estate in Turkey compared to neighboring tourist areas such as Antalya.

Factors that increase real estate prices

Selling your property:

Some people aim to preserve their homes for the next generations while others are looking to sell in later years. If your purpose is investment, the key here is to maximize capital growth; We consider this as a medium to long-term financial goal. Ideally, you should keep it for at least five years, and for more than 10 years, so you can achieve your goal. Then you will turn from a person who was looking for cheap real estate in Turkey to buy, to a person who will sell a property at a profit and a great return on investment.

Operation and maintenance costs:

Part of owning a property means annual maintenance and repair costs. House bills in Turkey are cheap compared to other countries, but for example, apartments in complexes must pay an annual apartment utility fee, which is earmarked for the maintenance of common areas. Likewise, a homeowner might take pleasure in their own pool, but this requires a fee for chemicals, cleaning, and maintenance each year. Before you buy a property, consider your annual operating costs to prevent any headaches later.

Home renovation:

In their quest to become homeowners, some people love the idea of a renovation project. They find a bargain property and start thinking of ways to make it their dream home. However, this type of real estate ends up being the most expensive real estate investment you can ever make. Some older residential properties are being sold cheap because the structure is not in line with government regulations for building standards. In these cases properties do not contain the legally required documents such as the housing certificate, which indicates that the building is suitable for housing.

Closing costs:

All properties in Turkey have legal fees and taxes that must be paid, so consider these in your budget along with the price of your new home. Costs to consider include land registration fees, notary fees, translator and attorney fees, appraisal, and taxes.

Finding real estate for sale in Turkey

In general, the search for cheap real estate in Turkey is an interesting process due to the reasonable options despite the variety of prices, as each region in Turkey has a tourist history and can be a future tourist destination, even if it is rural. You are free to choose.

If you would like to know more about buying cheap real estate in Turkey or real estate investment in Turkey, please contact us via WhatsApp, here. Our company's real estate consultant will respond to you as quickly as possible.

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