Apartments for sale in Turkey - Apartments' Prices in Turkey
Summary: A study observes the prices of a wide range of properties and apartments for sale in Turkey and apartment for sale in Istanbul and other factors of high and low property prices in Turkey, to provide accurate and sufficient information for Arab investors, here is a list of prices and living costs in Istanbul city.
Introduction About the Turkish Economy:
- The Turkish economy is the biggest Islamic economy, surpassing even the volume of the Saudi economy, given that Turkey did that without even joining the European Union.
- Turkey's central location between Europe and Asia is a strong factor in addition to the marketing and geographic factors favorable for Arab investors.
Real Estate in Turkey and Apartments’ Prices in Turkey after the Law on the Ownership for Foreigners:
- After the Turkish Foreign Ownership Act was issued in 2012, real estate prices in Turkey have risen to high levels, especially in the old real estate, due to the large demand.
- Imtilak Real Estate expects that the price of apartments in Turkey will rise under the new legislation from %60 to %90 over the next five years.
What Are the Prices of Apartments in Turkey Compared to Their European Counterparts?
- The cheap prices of apartments attract the Arab investors to buy houses for sale in Turkey comparing to the Arabic countries, in Istanbul for example the economic capital of Turkey and the biggest city in the world in terms of population’s number, when looking for apartment for sale in Istanbul, you can buy a small apartment on the map with a price of $100.000, with a good touristic location, and a promising investments profits that would rise to $140.000 when it’s ready.
- The average price of real estate in Turkey generally is still %50 to %60 lower than that of Eastern Europe and %80 to %90 of that in Western Europe, according to The Times.
- Turkey offers for its foreign investors better real estate opportunities than other Mediterranean countries, with rents of around % 5.4and the highest in the region.
What Are the Main Factors That Determine the Prices of Real Estate and Apartments in Turkey in General?
First: The Importance the Type and of the City:
- The importance of the tourist, commercial and industrial city and its proximity to the sea is of great importance in the prices of real estate in Turkey.
- Touristic cities in Turkey are as many as Istanbul, which is considered the most important and most beautiful because of their beaches, monuments and places of entertainment.
- The cities of Trabzon, Bursa, Antalya and Yalova are not less important than Istanbul because of their charming and attractive nature.
- Where prices are relatively low in interior cities, such as Konya, Eskishahir, Gaziantep and others.
Second: Location of the Property Within the City: Here are Several Factors That Determine the Price:
- The proximity to tourist places such as the beach, public parks and archaeological sites such as famous mosques, palaces, old castles and entertainment places.
- The nearness of the airport and transportation such as metro, train station or main streets.
- Distance and proximity to the city center or the center of the district.
Third: Property Specifications in Terms of Several Key Things:
Property space, number of rooms, number of bedrooms, number of bathrooms, number of balconies, year of construction, floor number within the building, housing or delivery time, quality of finishing, and other matters.
- In the end, it can be said, that for $ 100 thousand can buy a respectable apartment in a big city like Istanbul, overall apartment prices in Turkey is still relatively low compared to countries that have the same features of Turkey real estate.
- Real estate and construction sectors are expected to continue to grow and to raise the profits. Arab investors and European investors continue to pay attention to these two sectors in Turkey as a result of the expected profits.
- There are still promising districts and vast spaces for the investment in Turkey that have not been invested and entered by investors and developers, but these districts are under their consideration of their present value and promising strategic location.
- Clients always desire to give them the approximate figures on real estate prices in Turkey, so this article should have clarified that the price to be controlled by multiple factors controlling the property and the city.
For detailed projects with their specifications and prices, please visit the following links: