Turkey’s real estate is very affordable, and the properties offer a luxurious lifestyle. If you bought it in a European country, it would cost an arm and a leg. Turkey is still finding its feet in several respects, as it is new to selling to international buyers, and you must keep in mind that Turkey is a large country with plenty of land to expand.
Turkish cities are significant players
The major cities are developed, but there is still undeveloped land surrounding them, which is begging to be developed. Land prices are higher in Istanbul, which is understandable given that it is a major city; however, just one hour away are the newly emerging areas of Bursa and Izmit, attracting a lot of attention because they are close to Istanbul. Still, the land is beautiful and not as expensive. Most other regions, such as Antalya and Bodrum, have plenty of coastal lands that are currently not expensive to construct because there is so much of it, but that will change it’s only a matter of time.
Infrastructure in Turkey
Infrastructure must be put in place, but construction materials are relatively inexpensive, which is why so much property is still being constructed. As the daily cost of living is lower in Turkey than in most other European countries and incomes are much lower than they are in the West, it goes without saying that property valuations would be lower than those in the rest of Europe.
The property market has continued to strengthen, with the Central Bank of the Republic of Turkey reporting that the house price index increased by 13.98% in 2016 due to investors purchasing residential, industrial, and land plots. This trend is expected to continue.
Turkish apartments for sale
You can buy a lovely two-bedroom apartment on a complex with landscaped gardens, a communal swimming pool, a children’s play area, gym facilities, WiFi, and probably a café bar or even a restaurant for £50,000. The title deeds, known as a Tapu, will be in your name, and you will be able to sell your property whenever you want. These properties are on the lower end of the market, but you still get a lot of value for your money. Often first time buyers will invest in an apartment and then upgrade a year or so later to a villa, to accommodate a growing family.
Detached villas for sale in Turkey
A detached villa is at the upper end of the market, and a three or four-bedroom villa on a private plot with a garden and swimming pool can be purchased for less than a one-bedroom flat in the United Kingdom. If you’re looking for the top end of the market, the sky’s the limit; maybe the pinnacle in luxury is a seven-bedroom villa with seven bathrooms and a vast outdoor private pool on a 1,275sqm plot of land that’s completely private. The views from your infinity pool, which is located on the coast in an upmarket area with excellent facilities nearby, are panoramic and uninterrupted.
Turkish real estate for sale
The benefit of purchasing a property in Turkey is that it caters to all budgets; even if you are on a tight budget, you can still buy a lovely apartment with a wide variety of on-site amenities and be just a 10-minute walk from the nearest beach. The high-end option is beyond your wildest dreams, but you can design it to your exact specifications if you can afford to create your villa.
Don’t make the mistake of assuming the inexpensive property is low-cost and poorly constructed. Turkish property is a perfect little investment that can fit all budgets.