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The prices of apartments and houses in Turkey vary according to a lot of factors. We will cover most of them with the prices in major Turkish cities in our article.
Turkey is an excellent alternative for international buyers wishing to purchase property for investment or personal use. The country’s great position, which provides quick access to trade routes in the Middle East, Europe, and Asia, as well as proximity to interesting cultural sites like as Istanbul and Ankara, is a significant draw for investors.
About Apartments and houses in Turkey
Turkey is a transcontinental country located in a strategic place where it connects the continent of Asia and the continent of Europe, Turkey is characterized by its beautiful, moderate climate and diverse nature.
It is also characterized by its charming coastal areas overlooking the Aegean and Mediterranean Seas. In addition, the coastal regions of Turkey have an oceanic climate that is warm and humid in summer and cool and humid in winter.
Turkey is a seismically active land and in addition it is a country prone to floods in winter. Turkey has a population of more than 75 million people, according to statistics in 2014. What are the prices of houses in Turkey, and do prices differ from one region to another In our next article, we will talk about the prices of apartments and houses in Turkey 2022.
Prices of apartments and houses in the main Turkish cities
It is critical that you get a sense of the real estate market (apartments and houses) in the country where you intend to settle.
Also, if you are a resident of the same nation and want to move your residence, knowing the costs of flats and homes in that country can make it simpler for you to choose a suitable property for you.
Furthermore, it simplifies the process of deciding where to purchase a property. For example, the average price of an apartment in Turkey is over $100,000, while the lowest units cost around $50,000. In Turkey, this differs from area to region, for example:
In Istanbul: The prices of apartments and houses in Istanbul range between $30,000 and $170,000. It depends on the size of the apartment.
In Ankara: The prices of apartments and houses in Ankara range between $17,000 dollars and $125,000 dollars for medium apartments.
In Izmir: the prices of apartments and houses in Izmir range between $20,000 and $150,000. It depends on the size of the apartment.
In Antalya: The prices of apartments and houses in Antalya range between$25,000 and $160,000 thousand dollars and 164 thousand dollars. It depends on the size of the apartment.
Trends of Apartment prices in Turkey during 2022
Late last year, global economic statistics indicated a 45 percent surge in Turkey’s real estate prices.
Workers in the Turkish real estate sector are bracing themselves for a substantial and historic surge in real estate prices.
Turkish real estate prices climbed by “29.2 percent” in June 2021, propelling Turkey to the top of the list of European nations with the largest yearly growth in real estate prices.
Istanbul topped the list of states with the greatest growth in real estate values, according to idekat. It had a 12% rise in November, followed by a 10% increase in Izmir and a 7% increase in Antalya.
It was discovered that the cause for the rapid spike in real estate prices is owing to a 40% increase in building expenses, as well as increasing demand for homes due to the decrease in the value of the Turkish lira.
Although the prices are increasing, but the Turkish real estate reamins one of the most undervalued real estate sectors in the world which gives a very good investment opportunity.
Types of apartments in Turkey
Apartments and houses in Turkey vary according to the area of the apartment and the number of floors in the apartment, such as:
Studio apartments: a pretty modest flat with just one bedroom and one bathroom It has an inner area that may be used or partitioned for a variety of purposes. It may be divided into two rooms: the kitchen and the living room. You may also arrange the apartment furnishings in a manner that is appropriate for this area.
Penthouses: These are flats on the higher levels of structures such as condos or hotels. This sort of apartment provides premium facilities such as great views of different regions of the city and its own elevator, as well as a swimming pool. In Turkey, these flats are often seen in prominent metropolitan buildings.
Duplexes: These apartments are like villas, as they are very spacious, and there are many distinct options. In addition, these apartments consist of two floors with spacious areas.
Triplex apartments: These apartments are among the biggest in terms of size, since they are made up of three levels linked by an internal staircase. The use of one of the floors for commercial or administrative activity, or even as a sports club, is one of the most significant benefits of these flats.
Factors that affect the prices of apartments in Turkey
We have several factors that affect the price of real estate or apartments in Turkey, some of them are direct and some are indirect.
Location: The location is the main factor affecting the high price of real estate or apartments in Turkey. Choosing the right one has a positive effect on the price of the property and brings you great benefit and benefit.
Area: Logically, the increase in the area of the property leads to an increase in its price. Usually the price of a small property is higher than the price of a large property, for example four- or five-room apartments are cheaper than two-room apartments.
Floor: Due to the presence of a large number of buildings and residential complexes, the price of the property or apartment is evaluated according to the floor on which it is located. When the floor on which the apartment is located rises, its price rises and falls when the floor on which the apartment is located decreases.
Interior finishes and decoration: The better the interior finishes and decoration, the higher the price of the apartment.
Indirect factors that affect the price of apartments in Turkey
There are several factors that affect the prices of apartments in Turkey, including:
- District services.
- Building security and guarding.
- Surveillance Cameras.
- Auto services.
- Car garages.
- Sports fields.
- Sports clubs.
- Recreational places.
Buying a property in Turkey
We have prepared a full guide for you about Buying a property in Turkey, you can check it out from here.
Real estate agents in Turkey
Turkey real estate is a trendy issue, and Turkish Real Estate Agents are in great demand. There are numerous realtors in the nation that would gladly deal with you, but how do you choose the best one for your needs We will teach you how to select a realtor who fulfills your requirements and assist you in deciding which realtor is appropriate for your home search in this post.
