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Your Guide For Buying Apartments in Türkiye

20/02/2024 Investment in Turkey 29 Your Guide For Buying Apartments in Türkiye

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Turkey is considered one of the most important destinations that foreigners from various countries of the world, especially Arabs, visit to buy apartments, settle down, reside, and even invest.

According to statistics conducted in 2023 regarding apartments for sale in Turkey , Istanbul received the highest share of home sales, as about 10,060 apartments were sold in Istanbul during the month of June, ranking first among Turkish cities with a rate of 16.4%. According to the number of sales, Ankara followed with 5,430 apartments and 8.9%, then Antalya with 3,390 residential sales and 5.5%.

Istanbul also ranked first in terms of apartment sales to foreigners, with a sales rate of 1,009 houses, followed by Antalya with 668 houses, Ankara with 134 houses, Yalova with 123 houses, and Bursa with 122 houses.

Iraq ranked first among foreign and Arab countries that purchased residential apartments in Turkey, as the percentage of apartment sales purchased by Iraqis throughout Turkey during the month of January reached 429 apartments, followed by Iran purchasing 415 apartments, the Russian Federation purchasing 190 apartments, and Germany purchasing 126 houses, and England and Kuwait purchased 113 apartments.

Apartment sales in Turkey during August 2023 increased by 5.1% compared to the same month last year, as 110,538 apartments were sold throughout Turkey, and Istanbul came in first place with a rate of 14.4%, with a sales rate of 15,881 apartments, followed by Ankara. By 9.7% with sales of 10,707 apartments, then Izmir by 5.5% with sales of 6,025 apartments.

The city of Istanbul once again ranked first during the month of 2023 in apartment sales to foreigners by selling 1,549 apartments, followed by the city of Antalya by selling 656 apartments, followed by Bursa by selling 228 apartments, then Ankara by selling 213 apartments, and the city of Yalova. By selling 169 apartments. Iraq once again came at the forefront of foreign and Arab countries that purchased apartments in Turkey during the month of August 2024, by purchasing 675 residential apartments.

Apartment sales across Turkey during the month of September 2023 also increased by 15.4% compared to the same month last year, as approximately 146,903 apartments were sold. Also during this month, the city of Istanbul had the highest share of apartment sales, achieving sales of 15.8% of the total sales throughout Turkey, through the sale of 23,265 residential apartments, followed by the city of Ankara, with a rate of 10.1%, through the sale of 14,906 residential apartments, followed by the city of Izmir. By 6% through the sale of 8830 residential apartments.

4,177 residential apartments were sold to foreign citizens during the month of September 2023, and Istanbul ranked first among Turkish cities by foreigners in buying apartments, achieving sales of 1,924 apartments. It was followed by the city of Antalya, with 744 apartments sold, followed by Ankara, with 239 apartments sold, followed by Bursa, with 213 apartments sold, then Yalova, with 141 apartments sold. Iraq once again came at the forefront of the Arab countries that purchased apartments in Turkey during the month of September 2024, by purchasing 781 residential apartments. Followed by the Kingdom of Saudi Arabia by purchasing 214 apartments, then Kuwait by purchasing 191 apartments.

 

Why Türkiye?

During the last ten years, Turkey has witnessed a major urban renaissance, which made it a destination for many investors and immigrants from other countries, as the volume of foreign currency that arrived in Turkey to buy apartments exceeded 32.5 billion dollars, while the total number of properties sold also reached 137 thousand properties, and during the past year 2018 About 1,350,000 properties were sold in Turkey, making it the top European country with the most property sales in one year.

One of the most important advantages of buying an apartment in Turkey is its presence in a country characterized by being the capital of nature and history in the world. You can enjoy the natural and historical beauty available in this country by purchasing an apartment in Turkey, and you can also benefit from the health and educational services that Turkey provides at the highest level, and we must Let us not also forget Turkey's strategic location and its beautiful climate, as it enjoys a climate with four seasons.

Average apartment prices in various provinces of Türkiye 2024

Below are the average prices of apartments in various provinces of Turkey based on the latest statistics conducted in June 2023, according to the sequence from lowest price to highest price.

  • Tekirdağ Province: 190,800 dollars.
  • Şanlıurfa State: 191,450 dollars.
  • Hatay State: 191,835 dollars.
  • Eskişehir Province: 211 thousand and 140 dollars.
  • Sakarya State: 211,440 dollars.
  • Manisa State: 215 thousand and 208 dollars.
  • Kayseri Province: 230 thousand and 340 dollars.
  • Konya State: 232 thousand and 800 dollars.
  • Kocaeli State: $234,000.
  • Samsun State: $235,760.
  • Ankara State: 235 thousand and 690 dollars.
  • Mersin State: 243 thousand and 150 dollars.
  • Balikesir State: 258 thousand and 170 dollars.
  • Adana Province: 259 thousand and 520 dollars.
  • Antalya State: 264 thousand and 960 dollars.
  • Gaziantep Province: 271 thousand and 269 dollars.
  • Bursa State: $281,610.
  • Aiden State: $298,958.
  • Izmir State: 345 thousand 600 dollars.
  • Istanbul State: 420 thousand 440 dollars.

The Most Likely Cities to Buy Apartments in Turkey

Below are the average prices of apartments in the cities most likely to buy apartments in Turkey based on the latest statistics conducted in October 2024, according to the sequence from lowest price to highest price.

Adana Province:

  • The average selling price per square meter is 1629 liras.
  • The average rental price per square meter is 8 liras.
  • The average period for collecting the price of an apartment is 19 years.

Gaziantep Province:

  • The average selling price per square meter is 1653 liras
  • The average rental price per square meter is 11 liras
  • The average period for collecting the apartment price: 15 years.

Kocaeli Province :

  • The average selling price per square meter is 1,939 liras.
  • The average rental price per square meter is 8 liras.
  • The average period for recollecting the price of an apartment is 21 years.

Konya Province:

  • The average selling price per square meter is 1472 liras.
  • The average rental price per square meter is 7 liras.
  • The average period for collecting the price of an apartment is 18 years.

Mersin Province:

  • The average selling price per square meter is 1628 liras.
  • The average rental price per square meter is 8 liras.
  • The average period for re-collecting the price of an apartment is 19 years.

Bursa state :

  • The average selling price per square meter is 2048 liras.
  • The average rental price per square meter is 10 liras.
  • The average period for collecting the price of an apartment is 19 years.

Antalya Province :

  • The average selling price per square meter is 2261 liras.
  • The average rental price per square meter is 12 liras.
  • The average period for collecting the price of an apartment is 18 years.

Izmir Province:

  • The average selling price per square meter is 2877 liras.
  • The average rental price per square meter is 13 liras.
  • The average period for collecting the price of an apartment is 18 years.

Ankara Province :

  • The average selling price per square meter is 1771 liras.
  • The average rental price per square meter is 10 liras.
  • The average period for collecting the price of an apartment is 17 years.

Istanbul Province :

  • The average selling price per square meter is 3523 liras.
  • The average rental price per square meter is 15 liras.
  • The average depreciation period for real estate investment is 22 years.

Things you should pay attention to before buying an apartment in Türkiye

Before buying an apartment in Turkey, you must pay attention to several things, the most important of which is the city in which you want to buy the apartment, as it is preferable that it be one of the major cities or tourist cities equipped with all service and social facilities in order to achieve a profitable investment return, followed by the age of the property, which greatly affects the price. It later also affects the internal use of the apartment, and the need for reconstruction and repair or not, so it is better to buy a newly built apartment, but taking into account that the property in which the apartment is located has obtained all permits and building licenses, and when buying an apartment within a project under construction for the purpose of investment, it must Verify all licenses for the apartment and the company establishing it as well. You must also take into consideration choosing a house located in an area that includes all social facilities and close to means of transportation, especially if you have children of school and university age. The apartment must be suitable for the housing system, and it is necessary to obtain a bond. Ownership in your name after verifying the apartment and completing all legal procedures.

How to choose the right real estate company

When choosing a real estate company to buy an apartment in Turkey, you must pay attention to several things, the most important of which are the company’s age and reputation within the Turkish real estate market, the projects it has already implemented, the number of projects that have been delivered, the number of projects under construction in addition to the quality of its projects, the percentage of its sales, and the facilities provided in each project. It is widespread in cities and countries, and you must pay attention to the permits for the project from which you want to buy the apartment, and make sure that there are no problems for the company with the municipality, such as obtaining a building permit and the license that specifies the number of building floors. The prices provided by the company can also be compared with the prices of other companies for projects of the same size. The specifications and specifications are in the same region or city, and one can also look at the company’s relationship with the Turkish Ministry of Housing and its implementation of projects in cooperation with it, which makes it more credible.

Turkish citizenship after purchasing your apartment in Türkiye

One of the most important advantages of buying an apartment in Turkey is the possibility of applying for Turkish citizenship when purchasing an apartment worth $400,000. This is after purchasing it and obtaining its title deed. Initially, the apartment must be evaluated by real estate specialists accredited by the Title Deed Directorate and the Turkish government. The specialist prepares a complete report for the Title Deed Directorate, attaching all the building’s legal licenses, with the necessity of mentioning the price of the apartment, which must be It must exceed 400 thousand US dollars, but on the condition that all financial transactions are carried out through banks, where all payment receipts are attached to the title deed, and the apartment must not be within a project under construction, and a pledge must be made not to sell the apartment for a period of three years, in which case a The final title deed, then obtaining a matching document from the Title Deed Department, thus all conditions for obtaining citizenship by purchasing an apartment in Turkey have been met, and then the possibility of applying for Turkish citizenship and the Turkish passport, which is considered one of the most powerful passports in the world.

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