Apartment Prices in Turkey

Apartment prices in Turkey do not constitute a major obstacle to owning a home there. You can do this even if you are a foreigner. The laws from the last decade offer flexible options. These options let non-citizens buy homes and invest in real estate.

This article provides a sample of Apartment prices in Turkey, in US dollars, Turkish lira, and Saudi riyals.

Apartment prices in Türkiye are in Saudi riyals

Turkey has many areas that offer different real estate investment options. Prices depend on the location and nearby services. They also vary based on the quality of the architectural design.

Real estate consultants find the average prices of apartments in Turkey in Saudi riyals based on the factors listed. The table below shows a sample from the most important cities:

• Apartment prices in Türkiye in Saudi riyals

Apartment prices in Türkiye in US dollars

Real estate prices changed because the Turkish lira's value went up and down against the US dollar. This factor adds to the pricing standards for apartments in the country.

While demand for certain sites declines, others flourish due to the combination of these criteria. In general, location remains the basis for pricing, followed by other relatively less important specifications.

• Apartment prices are in US dollars

The table below shows prices for small apartments in different cities. These prices go up with larger size, better features, and more services in the area

Apartment prices in Türkiye in Turkish lira

The changes in the Turkish economy have not hurt Turkey's appeal as a place to live. The cost of living is relatively low. There are many options available, making it possible to own an apartment on a moderate budget. This also opens the door to obtaining Turkish citizenship. The Turkish lira is the official currency for buying and renting real estate in Turkey.

Real estate consultants estimate the average price in Ankara, the second most crowded city after Istanbul, for a 100-square-meter apartment in a relatively new residential complex, at about one and a half million Turkish liras, a number that decreases when moving to less crowded and less spacious cities, such as Izmit, the beautiful city in the northwest of the country.

House prices in Türkiye

Turkey is a special tourist destination. It has marks of nobility that show different times in history. Because of this, Turkey ranks high in global tourism.

The foreign ownership law was issued in 2012. This made the area a popular place for real estate investors, especially Arabs. As a result, apartment prices rose over the years. They increased by 60 to 90 percent. This rise happened alongside the recovery of the real estate market. The market opened up to people wanting to own property from 129 countries.

Even with rising prices, average real estate prices in Turkey are still 50 to 60% lower than in Eastern Europe. They are also 80 to 90% lower than prices in Western Europe, according to a report by The Times.

These positive changes happened at the same time as the government introduced new laws. These laws offer great investment opportunities. They are suitable for a country that is growing economically. This growth is supported by political stability and ongoing development.

The quality of new residential projects has improved. Standards for buying or renting an apartment in Turkey have also increased. Location is still a key factor in determining price. The cheapest apartments are usually far from city centers. They are often located on the outskirts and in suburbs. This does not mean that basic services have declined.

Real estate experts price apartments for sale based on location and other factors that increase their value. These factors include:

• Being close to transportation options like buses, metros, trams, ports, and airports is very important. This is especially true in busy cities like Istanbul, Ankara, and Izmir.
• Proximity to various development projects, especially those that provide job or investment opportunities. An example of this is the new Istanbul Canal, the lands on both sides of which continue to attract investors.
• Proximity to the most famous tourist attractions, which means being in a place full of the best services.
• The height of the apartment. In places with attractive sea or mountain views, apartments with higher floors gain added value, while apartments with lower heights are relatively cheaper.
• The property’s immunity to earthquakes, as the age of the property is included in its specifications, determining its ability to resist violent earthquakes and natural disasters. Of course, its price increases with these standard specifications.

Below is a sample showing the prices of apartments in Turkey by city and type, based on the average price per square meter :

Apartment prices in Trabzon City

The city of Trabzon in northern Turkey is known for its beautiful nature and peaceful atmosphere. It has good infrastructure, even in the mountains. The cost of owning property here is low compared to apartment prices in Turkey overall. Houses in Trabzon are much cheaper than in Istanbul, for example.

Economists in Turkey say the average cost of living in Trabzon is $577. Trabzon is one of the least expensive cities in the world. Many foreign investors prefer it because of its natural beauty. It has lush greenery and views of the Black Sea coast. It also has ancient sites and cultural attractions that appeal to history lovers.

The recent rise in the dollar's value against the Turkish lira has impacted real estate in Trabzon. However, the market is still active and moving at a good pace. Apartment prices in Trabzon start at $66,000 for 3+1 apartments and approximately $70,000 for 4+1 apartments. The price of the apartment in Turkish lira ranges from 450 thousand for 3+1 apartments to 550 thousand for 4+1 apartments. Taking into account the factors of location, proximity to the sea, engineering design, and services available in the building and the region.

Apartment prices in Bursa City

Bursa is a city in northwestern Turkey. It is important for real estate investment. This is mainly because it is close to Istanbul. Bursa is also at the crossroads of fast land and sea transport.

The city has beautiful landmarks that attract many tourists, especially in winter. It is also calm and has many services. Integrated.

Bursa is gaining increasing real estate importance thanks to its lower costs of ownership compared to Istanbul. There are popular residential projects for real estate investors. Two of these are the Nilufer and Yildirim projects. They offer different apartment sizes, including 2+1, 3+1, and 4+1 duplexes. These projects also have many service and entertainment options nearby.

The starting price per meter for apartments in Bursa is $680 for a 2+1 apartment. This means a 94 square meter apartment costs about $65,000. A larger 150 square meter apartment is priced at around $102,000. Numbers vary according to the building location, its view, its height, the features of its design, and the services attached to it.