Top7 cities in Turkey to buy real estate (excluding Istanbul!)

Turkey continues to attract foreign investors

Turkey continues to attract foreign investors with its attractive conditions for buying real estate. According to the latest World Tourism Rankings, Turkey ranks fourth in the world in terms of international arrivals. Thanks to an open visa policy and strong interest in the citizenship by investment program, the number of visitors to the country is expected to be even higher.

Citizenship by Investment Program

The Turkish citizenship through investment program, originally valued at $1 million, was reduced to just $250,000 in real estate in 2018. The program now offers citizenship to investors who purchase at least $400,000 of real estate in the country. Despite the returns, many foreigners still opt for the opportunity to purchase a home (or several) and receive a free passport. Although often underestimated by critics, the program remains the most popular in history.

Real estate outside Istanbul

When it comes to real estate in Turkey, the Istanbul market is mostly discussed. However, "non-IstanbulTurkey" remains an under-explored area for foreign investors, which may be of interest for both citizenship and long-term investment. The country is a significant G20 middle power with a population of over 85 million, and in addition to Istanbul, it has 80 other provinces undergoing their own development.

Turkey's growing regions

Where else can you consider the real estate market in Turkey? Let's take a look at the 10 fastest growing regions with other qualitative indicators of attractiveness. This list is based on the 2023 report of the Turkish Statistical Institute on the annual population growth rate by province for the period 2021-2022. We also take into account tourism flows, domestic economy and geographical attractiveness.

• Mugla - population growth 26.1%
• Tekirdag - population growth 25.8%
• Antalya - population growth 25.7%
• Kocaeli - population growth of 22.2%
• Yalova - population growth of 18.2%
• Bursa - population growth 14.8%
• Mersin - population growth 13.3%

This survey highlights the growing demand for real estate in regions of Turkey other than Istanbul as a promising potential for investors looking for an off-the-beaten-track path to Turkish citizenship or a great buy in West Asia. Factors such as growing tourism, internal migration and government incentives for real estate development contribute to the attractiveness of these regions. Lower real estate costs compared to Istanbul, as well as Turkey's strategic position as a bridge between Europe and Asia, complement the “wider Turkey” value proposition. Ultimately, the choice to explore the local real estate market in Turkey depends on investors who are ready to operate in a volatile but geopolitically important country.