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Turkey has an active and developed real estate sector. This is supported by political and economic stability, making apartments a safe and reliable investment option for both residents and foreigners alike.
If you are searching for Apartments for sale in Turkey, this article will guide you to the best options and introduce you to the advantages of owning one of these apartments in Turkey.
How to Choose the Best Locations to Buy an Apartment in Turkey?
Do you want to buy an apartment in Turkey? You are certainly making a wise decision, whether you're looking for an apartment for living or investment.
Naturally, Apartment prices in Turkey depend on the location and city. They also vary based on the services available in the area. The apartment's size and finishing affect the price too.
There are many options available. Here are examples of apartments in Turkey's top cities: Istanbul, Bursa, and Antalya. These cities serve as models for cities active in the real estate market.
Apartments in Istanbul
Istanbul is the largest city in Turkey. It is a popular place for living. Many people like its economic and cultural opportunities. The city offers cultural and social diversity. There are many exciting events to enjoy. Apartments in Istanbul are among the most sought-after properties in Turkey, whether by locals or foreigners.
The beautiful city is divided into two sides: European and Asian, each with its own unique characteristics.
In Istanbul, you can find apartments in luxury residential complexes. These are in modern areas with great facilities. You can enjoy swimming pools, gyms, and 24-hour security.
You will also find apartments in traditional buildings located in older neighborhoods, with classic designs.
You will also come across apartments with stunning sea views overlooking the Bosphorus or the Sea of Marmara. These apartments are often the most expensive.
In general, apartment prices in Istanbul vary as follows:
- Luxury apartments: $300,000 to $1,000,000.
- Mid-range apartments: $100,000 to $300,000.
- Affordable apartments: Starting from $60,000 in developing areas.
Let’s take a look at a map of the best locations and prices on both sides of this enchanting city:
- Besiktas: This area is one of the most luxurious on the European side of Istanbul. It is near the Bosphorus and includes upscale neighborhoods like Ortakoy and Arnavutkoy. Prices here are very high, ranging between $300,000 and $1,000,000 depending on location and view.
- Sisli: This is a lively area near the business district on the European side of Istanbul. It has luxury apartments in both modern complexes and older buildings. Prices range from $150,000 to $500,000.
- Bagcilar: A rapidly developing area on the European side of Istanbul, close to transportation like the metro and Metrobus. Prices are more reasonable compared to central areas, starting at $100,000.
- Kadikoy: This is a well-known coastal area on the Asian side. It is home to Moda, a top residential neighborhood. Moda offers apartments that have beautiful sea views. Prices range from $200,000 to $600,000.
- Umraniye: A relatively affordable area on the Asian side of Istanbul that is developing rapidly with modern residential complexes. Prices start from $80,000 and can go up to $250,000.
- Uskudar: Located on the Bosphorus on the Asian side of Istanbul, offering some of the most beautiful sea views. Prices here range from $250,000 to $700,000 per apartment.
- Beylikduzu: Considered one of the cheaper areas compared to the aforementioned ones. Located on the European side, it is one of the fastest-growing areas in Istanbul. It features modern development and good infrastructure, such as public transportation (Metrobus). Prices in Beylikduzu start from around $60,000 to $120,000 for mid-range apartments.
- Esenyurt: A popular area for those looking for affordable apartments on the European side of Istanbul. Apartment prices here start from $50,000 and can go up to $100,000, depending on the size of the apartment and the services offered. The area is continuously developing and is considered a good economic option.
- Sultangazi: An economically friendly area on the European side. Apartment prices start at around $70,000, making it a suitable option for families looking for affordable housing.
Apartments in Bursa
Bursa is an ideal city for those seeking tranquility and nature, while also being close to the vibrant economic, cultural, and tourist center of Istanbul.
The beautiful city in northwestern Turkey is an industrial and tourist hub, with an attractive natural environment that includes the famous "Uludag" mountains.
The city is witnessing growing demand for apartments, from both locals and foreigners looking to live or invest. If you are looking for apartments for sale in Bursa, consider these areas that offer both affordable and more expensive options:
- Nilufer: One of the most attractive areas for families and professionals, known for its modern residential complexes and quiet environment. Luxury apartments here are available for prices ranging from $100,000 to $250,000.
- Mudanya: A peaceful seaside destination, known for its sea-view apartments, making it perfect for living or investment. Prices typically range from $120,000 to $300,000.
- Osmangazi: The historical city center that offers a blend of old and modern apartments. The apartments here are more suitable for residents who want to be close to business centers and traditional markets. Prices range from $80,000 to $200,000.
- Yildirim: An area closes to the city center and considered economically friendly. Apartment prices start from $50,000 to $90,000, making it one of the best options for affordable housing in Bursa.
- Kestel: An area in the east of Bursa, known for its quiet environment, offering affordable apartments priced between $60,000 and $100,000, making it a good option for those looking for housing away from the city center but at a reasonable price.
- Gursu: Gursu is one of the affordable options in Bursa, with prices ranging from $60,000 to $110,000. It is known for its developed infrastructure and proximity to public transportation.
Apartments For Sale in Antalya
In this coastal city by the Mediterranean, you can find great options for buying apartments. These can be for living or investing in holiday homes.
Antalya is a key tourist spot in Turkey. It has a mild climate all year and lovely beaches.
If you are looking for apartments for sale in Antalya, here are some great places to buy. These options fit different budgets
- Lara: One of the most important and luxurious areas in Antalya, featuring apartments with fantastic sea views, close to the beaches. Prices here are relatively high, starting from $150,000 and going up to $500,000.
- Konyaaltı: One of the luxury areas known for its proximity to a long sandy beach and tourist facilities. Apartments here range from $100,000 to $300,000.
- Kepez: An inland area relatively far from the sea, so it is cheaper than coastal areas but offers modern apartments at reasonable prices. Prices start from $50,000 and may go up to $100,000.
- Dosemealti: A beautiful area located north of Antalya, known for its tranquility and nature. Despite being relatively far from the city center, it offers apartments at low prices, ranging from $50,000 to $90,000. It is ideal for families looking to live in a quiet environment at affordable prices.
- Aksu: An area close to the airport and considered one of the developing areas in Antalya. It offers apartments at prices starting from $60,000 and going up to $120,000, with good investment opportunities due to its ongoing development.
What will you get if you buy an apartment in Turkey?
After reviewing some of the best options and prices for apartments for sale in Turkey, it’s important to know the benefits that make investing or moving to Turkey attractive options.
Owning an apartment in Turkey offers foreigners multiple advantages, including:
- Real Estate Residency
Foreigners who buy property in Turkey can get real estate residency. This is an annual residence permit. It can be renewed as long as the person owns the property.
This residency allows the holder to live legally in Turkey and benefit from education and health services.
- Applying for Turkish Citizenship
Foreigners who purchase property worth $400,000 or more can apply for Turkish citizenship. This program has become very popular because it allows investors and their families to obtain a Turkish passport.
- Low Cost of Living
Turkey has a low cost of living. This is true when compared to many European and Asian countries. Housing, food, and transportation are all affordable. This makes daily life easy, even in big cities like Istanbul.
- Diverse Tourism and Geographical Environment
In this special country, you can visit historic cities like Istanbul. You can also enjoy beautiful beaches in Antalya and Bodrum. There are also mountains and nature in Bursa and Trabzon. These are just a few examples of numerous tourist destinations.
Owning one of Turkey's properties lets you enjoy wonderful vacations. You can also rent out the apartment to tourists when you are not using it.
- Affordable Real Estate Prices
There are offers in Turkey that will surprise you with their affordable prices compared to many European countries.
With booming tourism and a growing population, demand for property rentals is increasing, providing owners with lucrative rental income in the short and long term.
- Modern Infrastructure
Turkey has invested heavily in infrastructure, including excellent transportation networks, modern international airports, world-class hospitals, and schools.
Modern residential complexes also offer integrated facilities such as swimming pools, gyms, gardens, and 24-hour security.
- Installment Options
Many real estate companies in Turkey offer installment options, making it easier for foreigners to own apartments without having to pay the full amount upfront.
This makes property ownership in Turkey more flexible and suitable for a wide range of budgets.
- Simple Legal Procedures
Turkey has simplified the legal procedures for foreigners to purchase real estate. The purchase requires a few simple documents, and the process can be completed through a lawyer or certified real estate agent.
Foreigners have the same legal rights regarding property ownership as Turkish citizens.
Steps for a Foreigner to Buy an Apartment in Turkey
Buying an apartment in Turkey requires understanding the legal rules. It is best to talk to a lawyer to make this process easier. Here are the key steps:
- Searching for the Right Property
When searching for an apartment for sale in Turkey, it’s important to determine the area where you want to invest or live. It’s recommended to take a tour of the areas and check out different projects.
Several trustworthy real estate companies provide consulting services to make the process smoother. You can also find apartments online through real estate websites.
- Checking Legal Ownership
It is essential to ensure that the property is legally registered and free of debts or mortgages. Request a copy of the title deed (Tapu) to confirm the property’s legal status. It is advisable to hire a lawyer specialized in real estate law to assist you.
- Opening a Bank Account
You will need to open an account at a Turkish bank to transfer funds and pay for the property. The required documents include your passport, tax number, and proof of address with a utility bill (electricity or water).
The tax number can be easily obtained from the tax office in the city where you intend to purchase the property.
- Signing the Sales Agreement
Once you’ve agreed on the apartment, a sales agreement is signed between you and the seller.
The contract includes the property details, price, whether payments will be made in installments, and the delivery date if the apartment is new. A lawyer must be present to ensure your rights.
- Paying a Deposit
A down payment (usually 10% of the property value) is paid as proof of commitment to the purchase. This payment is made upon signing the sales agreement. Make sure you receive an official receipt for this payment.
- Transfer of Ownership (Title Deed)
Once the full agreed amount has been paid, you will head to the Tapu office to officially transfer the ownership to your name. You will receive the title deed that proves you are the legal owner.
- Paying Taxes and Fees
Under Turkish law, you must pay a property transfer tax of about 4% of the apartment's price. You also need to pay an annual property tax. This tax amount varies based on the type and location of the property.
- Obtaining Real Estate Residency
After the purchase, you can apply for real estate residency, which grants you the right to legally reside in Turkey. This is the benefit that many seekers of apartments for sale in Turkey are waiting for.
