Why is Turkey becoming more and more attractive for real estate investment?

Investing in real estate in Turkey

With each new year, Turkey is becoming more and more known as an attractive residential real estate investment destination. This country offers many advantages such as a well-developed transportation system, spectacular resort areas and favorable conditions for investors. Therefore, it is not surprising that the number of real estate transactions involving foreign buyers is growing every year.

Changes in the real estate market

The housing market in Turkey is undergoing massive changes. Previously, its main task was to provide affordable housing for the growing urban population. However, since 2003, when foreigners were allowed to purchase real estate in Turkey, the situation has changed dramatically.

In 2005, a process of liberalization of real estate legislation was initiated with the support of the International Monetary Fund, which was finally consolidated in 2006, when negotiations for the country's accession to the European Union began.

Economic prospects

Catherine Walker of Turkish Homes emphasizes that.the current positive economic situation in Turkey promises good returns for investors. In addition, the country has experienced a significant decline in inflation rates since the mid-1970s, which, combined with the introduction of a new mortgage system, creates additional opportunities for future owners.

Support of the European Union

It is also worth noting the support provided by the European Union, which allocates almost 7 billion euros for infrastructure development. As a result, more than 50,000 foreigners have become owners of residential real estate in Turkish resorts, with the largest number of them being British. This is a sign that the real estate market for foreign investors is largely dependent on affordable low-cost air travel.

Availability of air transportation

Low-cost direct flights from the UK to cities such as Istanbul, Bodrum, Izmir, as well as Dalaman and Antalya on the Mediterranean coast, make these places particularly attractive to buyers from the UK, thus contributing to the increase in housing prices. Russians also traditionally choose resorts on the Mediterranean coast for their vacations, where charter flights are available year-round.

Tourism and rental accommodation

The interest of foreign citizens in buying real estate in Turkey is closely related to the development of the tourism industry, which is considered an important source of income for the country's economy. In recent years, there has been a steady trend where more and more travelers prefer independent accommodation, paying attention to private rentals.

• While in the past, before 2000, about 70% of tourists chose hotels, nowadays rentals are becoming more and more in demand.
• This opens up new opportunities for the rental market and the creation of real estate investment projects.

Antalya and its surroundings

Antalya and its surroundings are a key destination for tourists seeking the warmth of Turkey's southern coast. Often referred to as the capital of the Mediterranean, this resort city attracts visitors due to its unique atmosphere.

As highlighted by Rebecca Joy of Aqua Vista Property,“Antalya is an excellent option for both beach vacation fans and those interested in the cultural aspects of the region”. Recent years have seen a steady increase in real estate prices in this part of the country.

Real estate in Antalya

One-bedroom apartments in the central areas of the city quickly find their buyers at around 100,000 euros. At the same time, two-bedroom apartments with magnificent sea views in the Konyaalti Beach area can be purchased starting from 65,000 euros.

Estates Turkey has put up for sale a new residential complex called Citrus Garden, which is located in a well-maintained orange grove. Each apartment in this complex is equipped with:

• two bedrooms;
• satellite dish;
• Internet access.

In addition, the complex offers its residents a bus that conveniently runs to the beach.Prices for these apartments start from 49 000 euros.

Types of real estate

Speaking of real estate, it is worth noting that in Antalya there is a predominance of apartments, while in Belek choose villas and golf. The compact location of Belek, which is only 20 minutes from Antalya airport, makes it attractive to tourists. However, the suburbs of this resort area are more suitable for those who wish to purchase property.

Thus, one of the new interesting resorts is Cleopatra Court, designed for family vacations. The complex offers facilities such as:

• pool;
• children's playground;

It is located near two golf courses and one and two bedroom apartments in Cleopatra Court start from 104,000 euros and are offered for sale by Properties Alanya.

Lycian world

Lycian World, spreading from Antalya to Marmaris to the south, is starting to gain popularity among investors thanks to the launch of international flights at the local airport. The construction of the Göcek Tunnel, which significantly reduces travel time from Muğla to Fethiye by half an hour, has also contributed to the growing interest in the region.

The tranquil suburbs of Fethiye, like Karagozler and Taskaya, offer standard apartments at prices starting from 65,000 euros, making them attractive to buyers. In addition, there has been an increased interest in satellite communities such as:

• Chalish;
• Uzmulu;
• Hisaron.

Olu Deniz Bay

Those who prefer an active lifestyle and want to be in nature should pay special attention to Olu Deniz Bay, known for its snow-white beaches and crystal clear waters. Among the residential complexes in Hisaronu stands out Ovacik Sidima, consisting of:

• 12 duplex and beautiful homes;
• of a picturesque garden;
• of the common pool.

This location is ideal for those seeking a connection with nature and solitude amidst beautiful scenery.

Features of real estate in the region

All housing in this region is characterized by an interesting open plan, offering buyers stylish kitchens and cozy bathrooms. The initial cost of a property here is around 100,000 euros. The Lycian coast, which includes towns such as Fethiye and Marmaris, offers potential owners a unique opportunity to find picturesque and little-known corners.

Nature and tranquility

Thanks to its location among majestic mountains, the small town of Kas has been preserved from tourist mass and excessive commercialization.

Attractiveness of Bodrum

Bodrum, with its own airport, significantly attracts tourists during peak seasons, says Victoria Ward of Aqua Vista Property. The increasing number of modern residential developments as well as golf course projects will have a positive impact on the region's real estate market.

Cost of accommodation in Bodrumhigher compared to Antalya. The minimum price for one-bedroom apartments starts from 70,000 euros, while two-bedroom options start at 100,000 euros.

Currently, one of the most tempting projects is the luxury residential complex Bargylia, which offers its own access to the water. This project is designed for those looking for a quiet and measured life close to the bustling city. Prices for two-bedroom apartments start from 90,000 euros.

Features of the Gumbet neighborhood

In the neighboring village of Gumbet, Real EstateBodrum offers one of two charming houses with common walls for only 110,000 euros. Yalikavak, which is located in the northwest of the peninsula, impresses with its green surroundings.

This area serves as a cozy marina for small fishing boats and luxury yachts. The pedestrian zone in the city center is surrounded by bars and restaurants, creating an atmosphere of coziness and tranquility.

• There is virtually no new development in the area.
• Because of this, housing price levels here are quite high.
• For example, an apartment in a new complex with an area of 65 square meters will cost a minimum of 117,000 euros.

The resort town of Altynkum

The resort town of Altynkum, also located on the Aegean coast, can be an alternative for vacationers. A special government program for the development of tourist infrastructure has been developed for the northern part of this resort, which offers stunning views of the Greek islands.

The program includes elements such as:

• building a yacht marina,
• creating golf courses,
• the emergence of luxury hotels.

Kieran Weekley of Select Property notes that property prices in Altinkum are 20-25% higher than in Bodrum, adding that there is a wide range of properties with sea views available. Studios in the area have starting prices from €40,000, while modest villas cost around €120,000.

Istanbul as a new fashion destination

Istanbul, once considered a humble city, is now on its way to becoming a trendy vacation destination. Its main advantage lies in its unique combination of ancient mosques and markets harmoniously neighboring modern stores and Art Nouveau cafes.

The nearby Prince Islands give this vibrant city an air of tranquility, contrasting with its vibrant city life.

This combination makes Istanbul attractive to both locals and tourists who seek to find harmony between historical and modern traditions. In this unique city, everyone can find something for themselves while enjoying the beautiful scenery and cultural richness.

Conclusion

In conclusion, Turkey's role as a key player in the real estate market for foreign investors continues to grow. Specific strategic steps taken by the government, such as liberalization of legislation and support for infrastructure projects, are already bearing fruit and opening up new investment opportunities. Every year, increasing in number, foreign investors choose Turkey for investment, focusing on its two-way accessibility, excellent resorts and growing economy.

Prospects of the real estate market

Against the backdrop of the ever-increasing number of tourists and the growing interest in private owner-occupied rentals, the profit opportunities are clear. I observe that tourism, being the most profitable export item, directly affects the real estate market, creating new niches for investment and shaping trends that dictate buyers' choices.

Popular regions for investment

With the growing demand for housing that meets modern requirements - from comfort to affordability - the appeal of Turkish real estate is only increasing. Particularly stand out regions such as:

• Antalya
• Fethiye

These places are becoming increasingly popular with foreign buyers due to their rich ecosystem and gorgeous beaches.

Long-term investments

Turkey promises to become not only a temporary vacation haven, but also a long-term investment opportunity. For those who want to be part of this dynamic process, a whole world of opportunities is opening up, where the combination of natural beauty, a stable economy and hospitality can offer a unique sense of investment satisfaction. Considering all of the above factors, I am confident that the prospects of the Turkish real estate market will continue to attract the attention and interest of foreign investors in the coming years.