Turkey is one of the most popular resort countries in the world, attracting tourists from all over the world. The country has a good location at the confluence of the Mediterranean and Aegean seas. Therefore, the demand for real estate in Turkey is steadily growing, regardless of the property type. Let’s see if it’s profitable to buy real estate for investment in Turkey.
What property can you buy in Turkey?
Türkiye is popular not only for holidays but also for permanent residence. Therefore, it is profitable to invest in the construction of residential buildings here. The selection of real estate depends on the goals:
- for personal residence;
- subsequent resale;
- long or short-term rental.
Real estate in Turkey cannot be called cheap, and its value is steadily rising. This is due to the high demand and reduction in the amount of land for new projects.
This is a unique location for owners looking to rent out their property. The flow of tourists here does not stop throughout the year. The average cost of two-bedroom apartments starting from 100 sq. m. is €135,000.
In all areas of different cities, some apartments and houses are attractive for investment.
Most of them belong to the mid-price and luxury class. The best houses are located on the first coastline and in popular tourist destinations. This could be real estate in the suburbs or the city center.
In Turkey, real estate is purchased mainly by Europeans, especially from Denmark and the UK. The cost of residential properties depends on the type and additional features:
- 3 bedroom apartment of 90 sq.m. m. will cost €75,000;
- villa near the sea with 7 bedrooms with an area of 530 sq. m. costs €415,500;
- villa with balcony for 3 bedrooms with an area of 110 sq. m. costs €118,000;
- duplex with an outdoor parking area of 130 sq. m. and 3 bedrooms – €59,500.
When choosing a property, the budget, location, requirements for the number of rooms, and additional features are considered. Some apartments are located in gated complexes, while others include additional territory.
The cheapest and most expensive real estate – price review
In Turkey, individuals and companies with different budgets can buy residential and commercial real estate. The price depends on the comfort of the conditions and the area of the premises, as well as the favorable location. If you choose a large hotel already making a profit, you only need competent management. In this case, the payback remains at the same level, and with a good strategy, it increases yearly. Financial capabilities and investment attractiveness completely determine the choice. Inexpensive offers are suitable for those planning long-term development.
Apartments and houses also differ significantly in cost.
Cheap real estate can have a convenient location and comfortable area. It is important to determine the necessary parameters, such as the number of rooms, total area, availability, and number of bathrooms. Taking into account these factors, the most inexpensive object is selected. The difference can be significant, although the apartments are practically the same.
Since the building area is limited, it is better to immediately focus on proposals with many bedrooms and common space. The availability of additional features largely determines the cost. Those who plan to live in their own apartment or house for a limited period of the year must take care of property management. Here is the approximate cost of real estate in different segments:
- apartment of 90 sq. m. with 2 bedrooms will cost €47,500 euros;
- a similar offer in a new complex with a terrace and a communal pool in the local area costs €100,000;
- apartment with beautiful views of the bay with an area of 165 sq. m. and with 4 rooms costs €200,000;
- villa of 200 sq. m. for 6 rooms will cost €210,000;
- villa of 360 sq. m. with 5 rooms will cost €600,000.
When choosing an option, you need to rely not only on the cost of the object. Utility payments, the presence of a management company in the complex, and the costs of year-round facility maintenance are considered. Use the services of Turk.Estate to find the property according to your wishes.
Places in Turkey worth visiting
Ishak Pasha Palace. This is a real oriental legendary palace. It is not only a masterpiece of Turkish architecture but also a masterpiece of world architecture. The palace is located near the southern border of Turkey, near Iran, near Dogubayazit. The palace took almost 100 years to build. Construction began in 1685 and ended in 1784. The palace amazes with its power and beauty. It has 2 floors and 356 rooms. Each room has a stone fireplace. Surprisingly, the palace has central heating. The palace has mosques, baths, harems, real dungeons, and mausoleums.
Regarding the number of exhibits, the Ishak Pasha Palace competes with the Hermitage. Tourists come here not only to admire the luxury of the palace. It is surrounded by picturesque areas with magnificent mountain landscapes.
The historical center of Mardin. Madrin is a province in southeastern Turkey. Madryn is a small city with a population of about 140,000 people. In 1960, due to its unique historical value, the historical center of the city was included in the list of sites protected by UNESCO. The historical part of the city surprises with its authenticity. According to the most conservative estimates, Mardin is about 6,500 years old. The first people settled here in 4500 BC. Throughout its history, Persians, Romans, Sumerians, Assyrians, and other peoples lived here. It was not until the mid-16th century that Mirdin fell to the Ottomans. Now, Madryn is the most visited tourist center. The architecture of the city intertwines different eras and cultures. It is the most cosmopolitan city in the country. Here, you can hear Armenian, Kurdish, Arabic, Turkish, and other foreign languages. The city fascinates with its charm. Feel yourself in another dimension.