Although the recent period in Turkey witnessed a rise in the prices of apartments in Turkey 2022, real estate and apartment sales are still rising significantly, whether for Turks or for foreigners, but what is the reason? We’ll mention all of that and more in this article:
Continuous rise in real estate prices and apartment prices in Turkey 2022
- The continuous rise in real estate prices and apartment prices in Turkey is a positive indicator for investors, as the money they invest in real estate does not lose, but on the contrary, it will return with great financial profits due to the high price.
- In fact, the increase that occurred during the previous period is not only a transient increase, but rather a systematic increase so that the investor, the owner and the government alike benefit from it, which will bring benefits to Turkey and the Turkish people.
- Investors consider that real estate investment in Turkey is useful from all of its answers, as those who are looking for a short-term investment will get it, as well as for those looking for a long-term investment or a permanent investment.
- Also, rental prices in Turkey increased in conjunction with the rise in apartment prices in Turkey and the rise in real estate prices.
Cheap apartments in Turkey
The prices of apartments in Turkey in Istanbul and the rest of the major cities such as Ankara, Izmir, Antalya and Bursa are often high, and if you find apartments for sale in Turkey in those cities, you should seize this opportunity and do not miss it.
After you are sure of the legal safety of the property and that the property’s space and conditions are suitable for the purpose that you hope to obtain as a result of owning this property, but do not allow the prices of apartments in Turkey to control the apartment you want to buy, but you should focus mainly on the quality of the property, In the end, you want to get a profitable property or comfortable and stable housing, so you should look for the best quality, not the best price.
Why should you look for apartments for sale in Turkey?
There are three main goals for those who think of owning an apartment in Turkey, which are:
Living in Turkey is one of the reasons for looking for apartments in Turkey
The desire to settle in Turkey is a goal for hundreds of thousands of foreigners. On a daily basis, dozens of foreign families visit the Tapu Departments in various Turkish provinces, other than the intensive searches for apartments for sale in Turkey by foreigners, Europeans, Arabs and other nationalities for many reasons, including:
- Turkey is a civilized developed country
- It is easy to adapt to life in Turkey and integrate with Turkish society.
- Great job opportunities available in Turkey.
- Provides security and stability.
- A stable social, economic and political life.
- The relatively low cost of living in Turkey.
- Studying in Turkey is very suitable for children of foreign communities.
- The charming nature of Turkey.
- Turkish people are friendly and hospitable people.
- Real estate prices in Turkey are relatively reasonable and are much lower than real estate prices in neighboring European countries.
Therefore, moving to live in Turkey has become an important plan for thousands of foreigners annually, and this is what the annual statistics indicate through the significant increase in the number of properties sold to foreigners in Turkey during the last period.
Real estate investment in Turkey
Real estate investment is characterized by several advantages that have already made it at the top of the list of investment plans for business leaders in the Middle East, and these reasons include:
- Ease of legal procedures for owning real estate in Turkey.
- Multiple options and distinctive real estate projects.
- The Turkish continuous urban transformation plan guarantees the construction of nearly 7 million apartments during the period between 2012 and 2023. Turkey has accomplished great strides from this plan, and according to this plan it is expected to create nearly 18 million apartments by 2050, which indicates Great effort and great development in the real estate sector in Turkey.
- Various development projects that have made great leaps in the value of real estate in Turkey, such as the new Istanbul Canal, which is one of the largest projects that is expected to have a significant impact on real estate values in the country.
- The short period of capital recovery rate in Turkey is an important motive for investing in the real estate sector, especially the residential sector.
- Diversity of options for real estate investment in various tourism, educational and health sectors, which always attracts tourists, students, workers and patients who want to live for short or long periods of time in Turkey.
Obtaining Turkish citizenship
Housing and investment in the real estate sector can be found in any country around the world, with some differences in which Turkey excels over others, but if we want to talk about Turkish citizenship in exchange for buying a property in Turkey, this feature in itself is a great motivation for owning real estate in Turkey.
Since the announcement of the amendment of low Turkish citizenship in 2018 regarding granting Turkish citizenship by real estate investment, Turkey has become a destination for thousands of businessmen and wealthy people around the world who are thinking of settling outside their countries and creating a new beginning, a new life, a step towards the future of various investments and commercial and economic activities.
Types and prices of apartments in Turkey
Apartments in Turkey are categorized by regions and styles from the smallest to the largest as follows:
- Room and hall can be coded as 1 + 1
- Two rooms and a hall can be coded as 2 + 1
- Three rooms and a hall can be coded as 3 + 1
- Four rooms and a hall in it that can be coded with 4 + 1
- Duplex “two-storey apartment”.
- Penthouse “3-storey apartment”.
Apartments according to the nature of their construction
There are two types of apartments available in Turkey according to the nature of the building:
- Residential complex apartments.
- Apartments in ordinary buildings.
Apartments by use
This division is for investment apartments, and we can talk about the following types:
- Student residence apartments.
- Family residence apartments.
- Hotel Appartments.
- Home office apartments.
Costs and prices of apartments in Turkey
The cost and prices of apartments in Turkey vary according to several factors, namely:
- Location: state / city / district.
- Apartment size and style.
- Distance to transportation.
- The distance to the sea
- The distance to the malls.
- The distance to any service facilities.
- Apartment details Are they new or old? In a complex or outside? Appearance of the apartment, and is the apartment floor
Therefore, you cannot give a fixed price for an apartment in Turkey unless you know all the previous details, and the large difference in prices according to specifications and places is completely normal. But we can provide an overview of the prices as follows:
Apartment prices in Turkey
According to the latest international statistics, the prices of apartments in Turkey according to the price per square meter in Turkey are on average about 892 US dollars, which is approximately 7,500 Turkish liras. Turkish real estate is good and encouraging investment, and this is what we will explain in the following paragraphs:
|How much is it in dollars for the same year?||square meter price||the year|
|895 $ Approximately||11600 Turkish lire||2022|
|892$ Approximately||7500 Turkish lire||2021|
|875 $ Approximately||7000 Turkish lire||2020|
|742$ Approximately||5200 Turkish lire||2019|
|708$ Approximately||4250 Turkish lire||2018|
|700$ Approximately||2800 Turkish lire||2017|
Prices of apartments in Turkey
Prices of apartments in Turkey in dollars
- The prices of apartments in Turkey in the tourist and major cities start from 60-70 thousand US dollars.
- And the prices of apartments in Turkey in the cities of southern Turkey start from 40 thousand US dollars.
- As for the prices of apartments in residential complexes, it usually starts from 70 to 90 thousand US dollars.
- The average price for a 3 + 1 family apartment is between 100 and 190 thousand US dollars.
Legal issues related to buying real estate in Turkey
- Issuance of a property valuation document.
- Extract (EKB): Energy Identity Document
- Writing the sales contract and attesting it from the notary office
- Transferring the ownership of the apartment to your name through the Tapu Department and obtaining an
- official title deed in your name
- Pay the required property taxes.
- DASK 7 earthquake insurance payment.
- Refer water, gas and electricity meters to your name
Thus, the apartment officially becomes your property, but it remains for you to appoint a real estate sales expert to ensure the legal integrity of all procedures and that the property or apartment is not mortgaged, not included in the demolition scheme or some other issue.
Real estate residence and Turkish citizenship “Acquisition of ownership and citizenship”
Before we start, let’s get acquainted with the real estate residence and its features:
Do you buy an apartment in Turkey to obtain residency?
What are the advantages of real estate residence in Turkey?
Real estate residency is a type of short-term residency in Turkey, granted for the first time for one or two consecutive years, and can be renewed annually, provided that the property remains in your name. Among the advantages of this residence:
- There is no minimum property price in order to obtain residency, meaning that if you purchase any residential property in Turkey at any price, you can obtain real estate residency in the province where you purchased it.
- The spouse and children under the age of 18 can obtain the real estate residence permit with the owner of the apartment and it can also be renewed.
- The holder of this residence permit has full educational, health and service rights in Turkey and can move freely within the Turkish states.
- The residence permit holder can travel outside Turkey and return without the need to issue a new visa.
- Unfortunately, real estate residence cannot nominate you for Turkish citizenship even if you have held it for many years.
Obtaining Turkish citizenship can be considered as a step to learn about life in Turkey and if you find yourself able to adapt to life and culture in Turkey you can make a new beginning for you and your family, and you may consider acquiring Turkish citizenship through real estate investment.
Turkish citizenship by investment
Obtaining Turkish citizenship by buying apartments in Turkey has become very popular since 2017, when the government announced a new amendment to the Turkish citizenship law to encourage investors around the world to invest in real estate, as the government offered a lot in return for foreigners buying real estate in Turkey.
- Reducing the minimum property price for obtaining Turkish citizenship from one million dollars to a quarter of a million dollars in 2018.
- In 2019, joint offices were established to shorten the legal procedures and save time and effort for investors in general and real estate in particular to complete the Turkish citizenship transaction in record time and without complications.
- Nationality for real estate investors is one of the most important components of the real estate market, not only in Turkey but in several European countries, where real estate investment represents a wide door to obtain European or American nationalities, but what distinguishes Turkey is:
- Low value for the minimum price required to obtain Turkish citizenship by investment.
- Ease of legal procedures for real estate ownership.
- There are no obstacles for many foreign nationals to own real estate in Turkey.
istasya Property real estate services for those thinking of buying real estate in Turkey
We offer our customers many distinguished services, including:
- Providing the strongest real estate offers at competitive prices within the finest residential complexes in Istanbul.
- Accompanying the client on a distinguished real estate tour to see the details and features of the apartments he has chosen.
- Follow up on all legal procedures for free real estate ownership.
- Providing after-sales services such as opening water, electricity and gas meters, purchasing furniture and assisting with all services that ensure a safe and comfortable move to your new apartment.
- Providing free advice on Turkish citizenship and real estate residence services.
- Provide all the necessary advice for you before, during and after buying apartments in Turkey.
With this article, you have been provided with all the necessary details about the prices of apartments in Turkey and apartments for sale in Turkey to be a comprehensive guide for you that you can return to and rely on in all steps of ownership and after. Astasia Real Estate’s experienced team is always ready to provide you with advice and support at every step to ensure a special buying experience in Turkey.
Apartments for sale in Turkey
1 + 2 apartment of 142 square meters for sale in Istanbul at a price of 92,000 USD
Prices of apartments in Turkey