Advantageous purchase of inexpensive
real estate
in Turkey

Affordable Real Estate in Turkey – Everything You Need to Know About Apartments, Houses, and Other Types of Property, as Well as the Regions of the Country

Turkey is a large and diverse country. Surrounded by three seas, it attracts over 55 million tourists annually. This is a significant number, both for Turkey and for any other country. As a result, developers and other responsible parties must continuously improve the infrastructure to accommodate travelers.

The real estate market is also growing. Various types of properties, including apartments, studios, and flats, are available in new developments, catering to any preference and budget. Some people prefer to buy property in Turkey at a lower cost, and for these buyers, affordability is key.

On specialized websites, people can find listings of properties for sale. It’s important to understand that owning any type of property in Turkey allows a person to obtain a residence permit (residency). This is a valuable benefit as it grants more rights. For example, a residence permit allows you to stay in Turkey for as long as you need. While it’s not full citizenship, it offers more advantages than simply being a tourist.

Real Estate in Turkey – Regions and Prices

Turkey is bordered by three seas: the Black Sea in the north, the Mediterranean Sea in the south, and the Sea of Marmara just south of Istanbul (the city’s southern edge reaches it). Therefore, it makes sense to divide the regions based on their proximity to these seas. This creates the following regional breakdown:

• The Black Sea Region of Turkey: The largest city in this region is Samsun, with a population of 644,000. It also forms an urban agglomeration with a total population of 1,371,000. Property on the coast tends to be more expensive than on the outskirts, but the price difference per square meter is not very large, averaging between $400 and $500. However, Samsun, being a coastal city, offers plenty of opportunities to buy affordable real estate. In the Black Sea region, you can also find cheaper housing options in smaller cities and villages, like Sinop, a city known for its historical naval battles. History attracts tourists, which in turn makes it a great spot for investors looking to purchase affordable property in areas with significant tourist traffic.

• The Sea of Marmara Region: The main city in this region is Istanbul, a megacity with a population of approximately 10 million, making it the largest city in Turkey. The infrastructure is well developed, which means there is an abundance of real estate, including affordable options. Apartments and flats can be purchased for around $37,000 for the entire property. Given the size of the city, prices vary widely. The city has many developers, and real estate sales continue year-round. It’s important to remember that owning real estate, whether by the sea or inland, grants the buyer the right to obtain a residence permit. Investors and regular buyers alike can find listings in smaller towns, where fewer tourists visit, at even lower prices.

• The Mediterranean Region of Turkey: This area includes four key cities: Kuşadası, Antalya, Alanya, and Mersin. These are the main tourist hubs, where developers are building new residential properties. Although the cities differ from one another, they all offer coastal and inland housing options at reasonable prices. Each city has a wealth of attractions beyond the beaches. Prices start at around 16,500 euros, with no upper limit. Villas and large private houses, whether by the sea or not, are much more expensive. Villas on the first line (within 500 meters of the beach) are the most desirable and expensive properties. Finding a low-cost home in this region can be difficult, but it’s possible to purchase a house in Turkey at an affordable price, especially for those who value comfort.

• Central Turkey: This region is far from any coastline, so significant efforts are made to attract tourists. The central part of Turkey is rich in historical sites and landmarks. One important aspect is that inland properties are the cheapest in the country. Numerous listings are available online for properties in Gaziantep, Malatya, and other cities that are hundreds of kilometers from any coast. It’s important to remember that the cheapest option is not necessarily the worst. Affordable housing in these cities costs about $300 per square meter, which is relatively inexpensive considering the size of cities like Gaziantep (population over 1.5 million) and Malatya (just under 500,000 people). There are also smaller towns in the region with even more affordable real estate options.

It is entirely possible to find cheap real estate in Turkey. You just need to search carefully on specialized websites and thoroughly study the characteristics of the region you’re interested in.

Types of Affordable Real Estate in Turkey

Affordable housing in Turkey comes in several main types, including:

• Apartments: Initially, these spaces weren’t always intended for residential use; they could have been used as offices or for other purposes. However, apartments are often converted into living spaces. You can find such properties for sale on Turkish websites and purchase them at a good price.

• Studios: This option can also be found inexpensively on relevant websites. Similar to apartments, studios may not have been initially designed as residential units. However, they are often converted into spaces where people can live, making them an affordable option. The key is to find the right website to make the deal.

• Flats: Unlike the previous two types, flats allow for formal residency registration. This makes them a suitable option for those looking for inexpensive property to live in full-time. The price depends on many factors, including location, number of rooms (one-bedroom flats are the cheapest, while two-bedroom ones are more expensive), proximity to public transportation, distance from the city center, and more. To buy affordable real estate in Turkey, it’s essential to consider all of these factors.

• Villas: For those who prefer luxury and comfort, villas are a popular option. While they are generally more expensive, there are opportunities to purchase a villa at a lower price. If the villa is located far from the sea (preferably in central Turkey), in a small town away from tourist areas, the cost will be significantly lower than it would be in coastal regions, especially for villas on the first line near the beach.

Each option has its advantages, and it’s up to the buyer to decide what suits their needs best. You should explore different websites and find the property that meets your requirements.

Key Aspects of Buying Affordable Apartments in Turkey

When buying affordable real estate, there are a few important factors to consider:

• The buyer should first determine the region where they plan to make the purchase.
• The buyer should research the specific property that interests them in the chosen location.
• It’s essential to decide whether the property needs to be furnished immediately or if you will furnish it later.
• Proximity to the sea and city center also plays a key role in determining the price. The farther from these, the cheaper the property will be.
• The number of rooms: One-bedroom apartments are the cheapest. They are suitable both for renting out and for living in Turkey long-term with a residence permit.

If the apartment is an investment, it will pay off in 10-20 years with an annual return of 5-12%.