Real Estate in Turkey

Real Estate in Turkey: Buying, Prices and the Best Areas for Living and Investment

Turkey is one of the most attractive destinations for buying property by the sea. The country occupies a strategic position between Europe and Asia and is bordered by four seas — the Mediterranean, Aegean, Marmara and Black Seas — offering a wide variety of climates and housing options. The total area is about 783,000 km², and the population exceeds 85 million people. The official currency is the Turkish lira (TRY), and the official language is Turkish.

Turkey’s economy ranks among the 20 largest in the world. The country’s GDP exceeds USD 1 trillion, with construction, tourism and exports playing key roles. Infrastructure is rapidly developing, and property is in high demand both among investors and those seeking a second home for living.

Investment Attractiveness and Legal Features in Turkey

Foreigners can freely buy property in Turkey — there are no restrictions for most nationalities except in military or protected zones. Transactions are registered through the state land registry Tapu Sicil, where the buyer receives an official ownership document — Tapu (title deed).

Main advantages of the Turkish property market: affordable prices compared to Europe; the possibility to obtain a residence permit or citizenship through property investment; high rental yield of 5–10 % annually; transparent ownership registration; well-developed infrastructure and stable expat demand.

By investing from USD 400,000 you can apply for Turkish citizenship, and from USD 200,000 — for a residence permit. The ownership must be maintained for at least three years.

Property Prices in Turkey

Property prices vary depending on the region, distance to the sea, infrastructure and construction class. Studios and 1+1 apartments in JVC-analog areas start from 4–7 million TRY (≈ EUR 120,000–220,000). 2+1 and 3+1 apartments cost from 8–20 million TRY, and in popular areas — from EUR 250,000. Villas and townhouses start from 25 million TRY (≈ EUR 700,000) and above. Luxury penthouses and seafront residences start from EUR 1 million, especially in Bodrum and Kemer.

Average price per square meter:

• Alanya — EUR 1,200–1,600/m²
• Antalya — EUR 1,800–2,500/m²
• Mersin — EUR 1,000–1,400/m²
• Istanbul — EUR 2,500–5,000/m²
• Bodrum and Fethiye — up to EUR 6,000/m²

Many new developments offer up to 36 months of interest-free installments, and prices for off-plan projects are typically 10–20 % lower at early construction stages.

Rental Market and Profitability in Turkey

Rental demand in Turkey remains high year-round. Resort cities offer yields of 6–10 % annually for short-term rentals, while in large cities such as Istanbul, Ankara and Izmir — 5–7 % for long-term rentals.

Main tenant groups include: tourists (short stays and seasonal rentals); students and expats (long-term contracts); families from the CIS, Europe and the Middle East relocating for permanent residence.

The payback period for investments is about 8–10 years. Property management companies provide full rental services with guaranteed income programs.

Districts and Cities: Where to Buy and Live in Turkey

Antalya — the tourism capital of Turkey.
Popular districts:

• Konyaalti — modern complexes by the sea, high rental demand;
• Lara — prestigious area with luxury hotels, schools and shopping malls;
• Dosemealti — quiet villa communities in green surroundings, popular among European and CIS families.

Alanya — one of the most in-demand cities in Turkey among foreign buyers. Property is actively purchased by citizens of Russia, Kazakhstan, Ukraine, Belarus, European countries (Germany, Norway, Sweden, the Netherlands), as well as investors from Iran and the Gulf region. The city attracts with its mild climate, safety and year-round infrastructure — ideal both for holidays and permanent living. Winters are mild (+16 °C on average), summers are sunny and warm (up to +33 °C).

Main districts:

• Mahmutlar — the most popular area among foreigners, with wide boulevards, beaches and many new developments (from EUR 1,200/m²);
• Kestel and Oba — green, quiet family districts with international schools, cafés and promenades;
• Tosmur and Cikcilli — closer to the center, suitable for permanent living;
• Kargicak and Demirtas — new areas with modern complexes, villas and sea views.

Alanya offers high living standards with private hospitals, a university, shopping malls and European-level restaurants. The city is chosen by families with children, investors and retirees seeking a relaxed lifestyle by the sea. By transaction volume with foreign buyers, Alanya consistently ranks among Turkey’s top three cities, following Antalya and Istanbul.

Mersin — a rapidly developing resort on Turkey’s southern coast. Property prices are much lower than in Antalya, while the quality of new buildings is improving every year. Average apartment prices range from 3.5 to 5 million TRY, and the cost per square meter is around EUR 1,000–1,400. The city is expanding with new ports and promenades. Best areas: Tece, Mezitli, Yenişehir and Erdemli — modern districts with supermarkets, parks and schools. Mersin attracts CIS families and investors looking for affordable seafront housing with growth potential.

Istanbul — Turkey’s largest metropolis and economic heart. The city offers everything from budget apartments to luxury penthouses overlooking the Bosphorus.
Investment areas: Beylikduzu, Basaksehir, Esenyurt — new housing at moderate prices with strong growth potential.
For living and rental demand: Kadikoy, Besiktas, Sariyer, Maslak — prestigious districts with offices, parks, schools and sea views.
Historic districts like Uskudar and Fatih remain popular for their unique atmosphere.
Istanbul is not only a housing market but also a cultural and financial hub with constant rental demand.

Izmir, Bodrum, Fethiye, Kusadasi — the Aegean coast regions known for villas and premium apartments with sea views, chosen by families and long-term investors.

Infrastructure and Quality of Life in Turkey

Turkey offers a high standard of living: international schools, modern medical centers, landscaped promenades, new airports and highways. The mild climate, access to four seas, green neighborhoods and relaxed lifestyle make the country ideal for both living and investing.

Utility and maintenance fees average 10–25 TRY/m² per year, and property tax is 0.1–0.3 % of the cadastral value.

Property Purchase Process in Turkey

The procedure of buying real estate in Turkey is straightforward and legally regulated.

1. Property selection and legal check. Verification of land registry data, building permits and developer documentation.
2. Reservation. The buyer pays a deposit (usually 5–10 %) to secure the property.
3. Signing the Sales Contract (TAPU Sözleşmesi). It defines the price, payment schedule and obligations of both parties.
4. Payment. Can be made in full or in installments in TRY, EUR or USD via bank transfer or escrow account.
5. Ownership registration. Conducted through the Tapu Sicil land registry. The government fee is about 4 % of the purchase price.
6. Receiving the Tapu. The title deed is issued in the buyer’s name, confirming official ownership.

The entire process takes 2–6 weeks. For foreigners, it is simplified — personal presence is not required and a power of attorney can be issued at a Turkish consulate.

Real Estate Market Trends and Prospects in Turkey

The Turkish real estate market maintains stable demand, especially in coastal regions. Price growth in euro terms remains moderate, while strong domestic demand and active foreign investment keep the market dynamic. Developers continue launching large-scale projects with full infrastructure — pools, fitness centers, schools and on-site services.

Turkey remains one of the few countries where you can still buy property by the sea at an affordable price, obtain residency or citizenship, and earn rental income. For CIS citizens, it is one of the most popular destinations for relocation, holidays and long-term investment.