Real estate owners as well as investors in Turkey have made huge earnings in the value of their properties in many Turkish cities in 2022 with a rise in their property prices up to 94% in some areas. What are the best areas and cities for real estate investment in Turkey? Read on to get to know them.
With the rise of global inflation rates and the pandemic of the Covid-19 Corona virus entering its third year, real estate investment in Turkey has proved that it is the safest option for those who want to maintain the value of their money from the results of huge inflation rises all over the world.
The real estate business in Turkey has had the best performance in the global real estate market, as properties for sale in Turkey has held its buying value through sharp rises of up to 100% in their prices. This exponential rise has also come in line with the rise of demand rates as well as an active process of buying and selling real estate properties in Turkey by foreigners.
By 2022, the investors and owners of real estate in Turkey have earned huge profits in the values of their properties throughout many cities in Turkey with Istanbul on top of the list. These excellent financial outcomes has proved once again that entering the field of real estates in Turkey is an extremely successful investment.
Furthermore, the incomes of real estate rentals in Turkey rose significantly last year – running in parallel with the rising global inflation, which in turn increased the investors’ trust in the business of real estate investment in Turkey.
So, which cities in Turkey are best for your next real estate investment in Turkey? Read on to get to know them.
1.Istanbul
Istanbul is strongly associated with perfect investment interests and it is the top city in Turkey in terms of economic feasibility across all sectors, especially real estate.
In 2021, the rise percentage in prices of properties for sale in Istanbul reached 94%. In addition, Istanbul held the 9th rank internationally in terms of the rise of global investment value according to Knight Frank, the world-famous real estate agency.
Financial experts say that the rise of real estate prices in Istanbul is due to the rise in prices of imported raw material after the drop in global exchange rates of the Turkish Lira (pound). Add to that, the increasing demand by foreigners to invest in Istanbul following the reduction of bank interest rates by the Central Bank in Turkey.
Throughout the last five years, all statistics have clearly shown the significant rise in the prices of real estate selling and buying in Istanbul. Many economic experts and analysts have also seen the Istanbul is one of the major cities in Turkey in terms of the best interests and profits of real estate investment in Turkey.
Real estate investment feasibility in Istanbul
The following two tables show you the average price difference in some of the well-known areas across Istanbul throughout the last three years. We have set up these tables for you our dear reader to help clarify the economic feasibility of buying a property in Istanbul as well as leasing a property in Istanbul. We have also included the expected average increase in those buying prices and rental fees.
| Table 1 – investment feasibility of buying a property in Istanbul | |||||
| Area in Istanbul | 3+1 flat average price in 2020 (in USD) | 3+1 flat average price in 2021 (in USD) | 3+1 flat average price in 2022 (in USD) | Annual average increase (in USD) | Expected price increase in 2023 (in USD) |
| Başakşehir | $110k | $180k | $200k | $45k | $45k |
| Beylikdüzü | $150k | $200k | $250k | $50k | $50k |
| Esenyurt | $75k | $100k | $150k | $37.5k | $37k |
| Table 2 – investment feasibility of leasing a property in Istanbul | |||||
| Area in Istanbul | 3+1 flat average lease in 2020 (in TL) | 3+1 flat average lease in 2021 (in TL) | 3+1 flat average lease in 2022 (in TL) | Annual average increase (in TL) | Expected lease increase in 2023 (in TL) |
| Başakşehir | 3,000 LT | 3,500 LT | 4,700 LT | 850 LT | 1,000 LT |
| Beylikdüzü | 2,500 LT | 3,600 LT | 4,650 LT | 1,570 LT | 1,100 LT |
| Esenyurt | 1,900 LT | 2,200 LT | 3,000 LT | 950 LT | 1,000 LT |
2.Ankara
Ankara has a very good investment value which is mainly related to being Turkey’s administrative capital; that among other reasons makes the demand rate of real estate investment in Ankara consistent and always on the rise by foreigners.
In 2021, Ankara came second in Turkey in terms of the number and volume of real estate properties sold in that year across all Turkey. Moreover, studies conducted by the globally renowned real estate agency, Knight Frank, proved Ankara’s position as one of the top cities in Turkey in terms of the continuously increasing investment value of its real estate sector over two consecutive years.
Studies also listed Ankara in the 10th rank internationally in 2021 on the list of cities with the highest real estate investment value increases in Turkey with a percentage of up to 25.8%.
3.Antalya
Antalya is world-famous for its warm Mediterranean beaches that attract tourists from all over the world. This beautiful city is also one of the top cities for real estate investment in Turkey thanks to the very active buy and sell process by foreign investors in the real estate market in Turkey.
Since Antalya is a touristic city in the first place and being famous for its resorts and hotels that attract a huge number of international tourists every year, real estate experts describe Antalya as a city prospering with opportunities for profitable real estate investments in Turkey.
Bursa
Bursa’s great real estate investment value is simply because this active city is a major industrial and commercial hub in Turkey in which the demand rate of real estate investment in Turkey is always on the rise.
Moreover, the incomes of real estate rentals in Bursa are considered to be of the highest and most profitable in Turkey.
Bursa is also among the Turkish cities with the best real estate investment feasibility thanks to its geographical location, its natural touristic climate, being close to Istanbul, and harbouring one of the largest commercial ports in Turkey.
Thanks for reading on! We hope this article has been helpful and that it will assist you in the real estate investment in Turkey you are looking for.
We at www.luxurygroup-tr.com run one of the best real estate agencies in Turkey and our main mission is to guide you to the best opportunities of real estate investment in Turkey. Visit our website to get to know property prices in Turkey and discover the best areas to buy properties in Turkey as well as the best offers for different needs for tourism in Turkey or investment in Turkey.
All the best with your next investment!
