Apartment Prices in Turkey in Turkish Lira
June 26, 2024
Apartment prices in Turkey vary significantly between provinces and cities. Generally, properties in tourist regions are more expensive than those in inland areas. For example, the cost of apartments in Istanbul is higher compared to other cities. This article will discuss real estate prices in Turkey and the factors influencing them.
Apartment Prices in Turkey
The prices of apartments in Turkey are not fixed and fluctuate based on the exchange rate of the Turkish lira against the US dollar. Additionally, prices vary between under-construction properties and ready-to-move-in homes.
The Turkish government and private real estate companies play a crucial role in encouraging real estate investment in Turkey. They offer special deals and ownership facilitation within Turkey’s apartments. These initiatives aim to make property prices affordable for all budgets by providing various payment options, including comfortable installment plans.
The country’s political, economic, and social stability also ensures that residential properties maintain their value and appreciate steadily over time.
Factors Influencing Apartment Prices in Turkey
Several factors influence the price of apartments in Turkey, including:
Region
The price varies depending on the city in Turkey, based on its features and location. Tourist, commercial, and industrial features, as well as proximity to the sea, significantly impact apartment prices.
- Tourist Cities: Cities like Istanbul, with its beaches, historical sites, and entertainment venues, are more expensive. Other notable cities include Trabzon, Bursa, and Antalya, which also have natural and tourist attractions.
- Inland Cities: Prices are relatively lower in cities like Konya, Eskişehir, and Gaziantep.
Apartment Location
Several factors determine the price based on location:
- Proximity to tourist attractions such as beaches, sea views, lakes, public parks, famous mosques, palaces, ancient castles, museums, and entertainment venues.
- Nearness to airports and public transportation like the metro, rapid bus lines (metrobuses), main streets, and highways.
- The influx of new investors, particularly after the launch of major development projects like the new Istanbul Canal and Istanbul’s third airport, is expected to increase property prices significantly once these projects are completed.
- Distance from the city center or central areas like Başakşehir, which is Istanbul’s new center with excellent apartment prices.
- Coastal or rural areas, or central urban locations, greatly affect apartment prices in Turkey.
Apartment Specifications
The price is also influenced by:
- Apartment size
- Number of rooms
- Number of bathrooms and toilets
- Number of balconies
- Year of construction
- Floor number
- Readiness for occupancy and delivery date
- Quality of interior finishes
- Additional features
Cities with Affordable Apartments in Turkey
While some cities in Turkey have high-priced apartments, there are also affordable options in various locations:
Istanbul
Despite being expensive, Istanbul has affordable areas:
- Esenyurt: Prices range from 550 to 740 TRY per square meter.
- Arnavutköy: Near Istanbul’s third international airport and the new Istanbul Canal, prices range from 740 to 1500 TRY per square meter.
- Büyükçekmece: Prices range from 650 to 830 TRY per square meter.
- Suburbs like Gebze, Pendik, and Dudullu offer apartments starting from around 2,500 TRY per square meter.
Antalya
Known for its Mediterranean location and tourist appeal, Antalya offers affordable homes starting from 724 to 890 TRY per square meter, with some properties reaching 1,000 TRY per square meter.
Sakarya
Famous for its tourist attractions, Sakarya has very affordable housing projects, with prices starting from 650 TRY per square meter.
Bodrum
Located in western Turkey, Bodrum, known as the "Pearl of Turkey," offers numerous tourist and historical sites with affordable housing options.
Gaziantep
Prices range from 7,430 to 11,150 TRY per square meter.
Bursa
Located between Istanbul and Ankara, Bursa has a significant Arab community and is one of the most densely populated areas.
Prices in Rural Areas in Turkey
Rural areas in Turkey are known for their tranquility and are ideal for relaxation. Property prices here are lower than in major cities and vary depending on proximity to the sea, natural views, distance from city centers, and property specifications. The average price per square meter in rural houses is approximately 3,000 TRY (about 107 USD).
In this article, we discussed apartment prices in Turkey and the cheapest options in various Turkish regions and rural areas. If you are interested in buying an apartment in Turkey and have any questions, feel free to contact us. We will help you find the perfect apartment for your needs.
Read Also: [Where do Arabs live in Turkey?]
Keywords
What is your budget?
Recommended Articles
November 11, 2024
Al-Shati Al-Gharbi Neighborhood in Dammam
Al-Shati Al-Gharbi Neighborhood in Dammam is a prestigious residential area that attracts those seeking a balanced environment that blends tranquility with vibrancy
November 7, 2024
Al Faisaliah District in Dammam
Al Faisaliah District in Dammam is one of the prominent neighborhoods that combines a strategic location with comprehensive services
October 24, 2024
General Information about Badr District in Dammam
Badr District is considered one of the best residential areas in Dammam, known for its well-rounded amenities, including schools, mosques, and shopping centers.