How to Buy Real Estate in Turkey?

It is also called the roundabout of continents, Europe, Africa, and Asia. In addition to touristic and geographic importance, real estate in Turkey is booming thanks to a dynamic market and public systems operating like clockwork. It both provides an attractive potential for investors and a hopeful opportunity for settlers. In this article, however, you will be introduced to the Turkish real estate market in the means of economics.  

Buying a property in Turkey is attractive for many with low costs and promising investment opportunities. Put it simply, Istanbul is multiple times cheaper than London while both cities have similar potentials for finance. We can also consider cities in the seaside of Turkey to compare its real estate prices with its equivalents. For instance, buying a villa in southern Antalya will be a couple of times cheaper for its buyer compares to a villa in Portugal or Spain. Overall, your wallet will be safe. One of the reasons why Turkish properties are cheaper is due to currency differences.

As mentioned, real estate in Turkey has also secured rental revenues for investors. Turkey’s young population with high education is one of the reasons behind the guaranteed rental revenues. You will not have problems to find a young Turkish couple who are just married, with good jobs and salaries. Turkey is growing economically and demographically and one who invests in the Turkish real estate market will enjoy that growth.  

Where is the best place to buy in Turkey?

Okay, we are convinced about the wonderful potential of Real Estate in Turkey. However, where is the place for us to our real estate? That’s a good question and needs a decent answer since Turkey has many options to be considered before purchasing our real estate.

The first place that needs to be mentioned is, of course, Istanbul with its centuries-old history, rich culture, vibrant nightlife, and prominent industrial and financial complexes. Real estate in Istanbul has many options to be guided for investors in terms of neighborhoods. Its booming economy and lifestyle are attracting many Turkish citizens, who will be your possible tenant. Beyond that, one will not regret to settle in Istanbul after purchasing a property there.  

If you are not looking for a metropolis with twenty million population, but a seaside with wonderful beaches and sunny days, then Antalya, Turkey should be your target. Real estate in Antalya is supported by a rooted construction industry behind. This will provide you many options to be considered. The city is very popular for Europeans and Russians especially due to its kilometers-long beaches and 3 hours long distance. A district of Antalya, Alanya is the pearl of the region, where you can enjoy the sun. Real estate in Alanya is among the best surrounded by 5-star facilities and shopping malls. Keep in mind that Antalya is not only a tourist place with its beaches, but the historical monuments coming from Roman and Byzantine times attract many tourists.

Let’s say you are looking for a ‘hotter’ place, and you want to enjoy the Mediterranean in its heart, then Cyprus, the pearl of eastern-Mediterranean, will attract you. With its 5-star hotels and booming touristic legacy, real estate in Cyprus is growing and future-promising.

How much does it cost to buy an apartment in Turkey?

If you are looking forward to buying real estate in Turkey after those words, then we can talk about the costs. Let us guide you!  

Providing an approximate price for real estate in Turkey is hard since different places will have different price ranges. Nevertheless, the prices vary from 40.000 Euros to millions for apartments in Turkey according to your desires. It is worth to remind that the 7 to 8 percent will be needed to pay for costs for services and legal procedures. However, these will be one-time costs. You will need several services during the purchase, which will change the prices you will pay. These will be depending on the attorney you are hiring or the prices of the apartment you are buying. Nevertheless, costs for the Turkish real estate market are relatively low.

When we calculate the prices that need to be paid, the square meter per property should be considered. For instance, Istanbul has higher prices compare to Antalya or Cyprus in terms of apartments. Moreover, if Antalya is considered, property for sale in Turkey in terms of apartments will be multiple times cheaper than its equivalents. For instance, it is possible to find a newly constructed apartment in Antalya for 25.000 Euros.  

How much does it cost to buy a villa in Turkey?

If you are looking for some privacy, and get far from crowds, but still keep some standards, then Turkey will be able to offer you wonderful options with lots of villas in different cities. However, of course, you will need to increase your budget for villas. Real estate in Turkey in terms of villas starts from a couple of hundreds of Euros. Istanbul will be more expensive compare to Antalya or Cyprus. Villas in Turkey have many options most often with private pools. The prices will be different according to this kind of feature.

Turkey real estate for sale will offer you low costs of services as mentioned before. For instance, you may need to pay 1% of the value of the property you are buying for registration fees. The costs for title deed will be 4% of the value of your property. Real estate in Turkey is an important part of the economy, and the government is aware of that. That is why most of the prices and legal procedures are kept low and easy. After the purchase, one will definitely continue to enjoy low costs in terms of energy supply or services that are needed daily life such as transportation.