If you’re looking to buy an investment property that will pay off in the short term, where you decide to buy is key. There are some cities where home values are poised to skyrocket over the next decade, so buying property now will pay off big time when you are ready to sell. Dreaming of a holiday home in Turkey? Whether you’re planning to relocate, retire, or invest, Turkey could be a golden opportunity. This huge country boasts glorious weather and a choice of buzzing cities and beautiful coastal resorts. But one of the biggest draws has to be its low property prices. In this guide, As Vartur, we’ll run through everything you need to know about buying property in Turkey as a foreigner. That said, Turkey is a huge country with many attractive places that are developed in terms of real estate, infrastructure, business opportunities, and offering a lifestyle of their own.
Thus, an innate confusion that would arise here is: Which is the best city in Turkey to purchase a property? Expert analysis and market trends suggest the following six top locations in Turkey for real estate investment:
- Istanbul
- Fethiye
- Bodrum
- Antalya
- Alanya
Best places to buy property in Turkey
Turkey is rich in sunny coastal resorts, beautiful countryside, and vibrant cities. The best place to buy real estate depends on what you’re looking for, whether it’s a vacation home, a retirement home, or a city center getaway. Let’s run through just a few of the most popular cities and resorts in Turkey among foreign buyers.
- Istanbul – This busy, vibrant metropolis is one of the most popular destinations for expats. Approximately 44% have decided to purchase a new home or investment property. It’s well-connected and rich in food, culture and history, but it’s no wonder it’s not the cheapest place to shop. Istanbul is very well connected, with more than 55 countries around the world just a 4-hour journey from Istanbul. Add to this a new third international airport, which will become a major attraction for the country and the city of Istanbul, making travel more comfortable.Turkey is one of the few countries where foreigners can live safely. Real estate in Istanbul guarantees rental income regardless of the type of property, as Istanbul has the highest proportion of the working population, attracts millions of tourists every year, and is a center of commerce and education. With the number of young professionals rapidly increasing, rental properties are in high demand and investors can expect to earn 3-6% of the property value in rental income. Furthermore, the potential liquidity of real estate is secured and is increasing significantly every year. In Istanbul, you can find a wide range of properties for sale, including residential and commercial spaces, which are more suitable for real estate investors.
- Fethiye – It’s considered one of the best places In Turkey for a holiday home, which offers beautiful coastal landscapes, excellent beaches, affordable property and a taste of traditional Turkish life. However, if you are buying property to live in Fethiye, this popular tourist destination may be a bit too quiet in the winter. As well as decent villa projects, Fethiye has a strong resale market and potential for those who want to custom-build their own property. As a labor center, Fethiye is inhabited by Turks all year round, as well as a significant number of foreigners. It’s so well established in the area that there are countless events for newcomers, from charity events to quiz nights. Outdoor activities are popular in this area, with plenty of opportunities to enjoy hiking, water sports, historic sites, and more. Fethiye’s market is famous as the town is an agricultural center, with local produce from all over the region being sold at the weekly market.
- Bodrum – Fashionable Bodrum on Turkey’s southwest coast is perfect for those looking for a little luxury, but it’s also home to several picturesque fishing villages. Real estate in Bodrum isn’t the cheapest in the country, but there’s something to suit every budget. It offers the best architecture when it comes to real estate in Turkey. Many of the ongoing projects in Bodrum incorporate traditional architectural styles in their construction. And this trend, which combines modern and contemporary architectural styles, is now the latest favorite of foreign buyers. Bodrum offers a comfortable lifestyle in every aspect, and its citizens have the perfect package, with weekly markets, good transport links, and plenty of shopping and sightseeing opportunities. This location on the peninsula is also a tourist center. Bodrum is known for its sailing and yachting areas and breathtaking resorts. Additionally, it already has a significant number of foreign property owners.
- Antalya – Antalya has always been the most popular destination for foreigners for the past 60 years. When the Turkish government opened up real estate investment to foreigners, Antalya experienced a surge in demand for luxury real estate for the first time. Antalya alone is a busy city, and there are also different locations offering different styles of atmosphere. Antalya’s climate is pleasant, and the sun shines almost 300+ days a year. Antalya has two airports and is well-connected to other cities. For those looking for a calm and relaxing lifestyle, Antalya is the perfect place. It has a large expat population and attracts lots of tourists, so could be a good choice for holiday lets.
- Alanya – This is an excellent example of a multicultural association with a warm home for over 80 nationalities. Alanya attracts real estate investors in various ways. Best of all, the price is reasonable. Secondly, the cleanliness and atmosphere of the place make it worth a visit. This seaside town has a pleasant climate. No wonder people from all countries feel at home here. Another main secret that attracts foreigners and expatriates to invest in this property is the affordable price and pocket-friendly lifestyle. Alanya offers a global living experience at prices you won’t find in other Western or European cities.
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