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Analysis of Developing Property Markets in Turkey

Analysis of Developing Property Markets in Turkey
There is a growing interest from all over the world to invest in real estate in Turkey. As the demand for investing in property is mainly focused on the entire coastline from Istanbul to Alanya , we prepared a detailed analysis of each destination’s property market. Years ago, only Istanbul was seen as a valuable investment area. Although several other investment destinations emerged, Istanbul is still seen as the investment capital of Turkey. Istanbul is one of the most important and rapidly developing real estate areas in the world. 
  Certainly, real estate sector is the most profitable and the least risky investment tool of all time. However, a very critical decision awaits the investor during their decision process. ‘Which side of the street offers a higher capital growth?’ People who can answer this question accurately can get a very high return on their investment in just a couple of years. Below is a list of the most attractive real estate investment destinations of Turkey:  

ISTANBUL

The areas between Gebze and Silivri have risen in price in the past couple of years. Currently, the fastest developing areas of the Anatolian side are: Kurtkoy , Cekmekoy , Tepeoren , Akfirat , Sarigazi , Samandira , Riva and Serifali .  In the European side, these fastest growing sections are: Zekeriyakoy , Kemerburgaz , Bahcesehir , Beylikduzu , Yakuplu , Gurpinar , Bahcesehir (Ispartakule), İkitelli , Gokturk , Galata , Tarlabasi and Catalca .
 The land prices in both Anatolian and European section have risen between 30% and %50. Sabri Ates, the president of Istanbul Chamber of Real Estate Brokers, has pointed out that the previously popular residential areas are now losing their attractiveness. He states that ‘The buildings are getting very old in areas like Fatih , Uskudar , Besiktas and Sisli . So, people are now demanding new residential areas, which are earthquake proof.  You can find the most attractive investment areas and property prices in each area below:

European side of Istanbul

From Zincirlikuyu to Maslak

Especially, the properties located in a complex are in demand in this area. The land prices increased in these areas steadily in the past couple of years. The square metre prices in this region start from 6.000 dollars and rises up to 8000 dollars. 

Sariyer , Bahcekoy , Kemerburgaz and Gokturk

These are located on the route to the third bridge. The property prices in this area are increasing each year. The square metre prices of these areas are starting from 500 dollars. Only couple of years ago, the sq m prices were starting from 100 dollars, however it became five times more expensive to purchase a property in these areas. 

Zekeriyakoy

The land prices of these regions have been increasing. The square metre prices of Zekeriyakoy was only 70-80 dollars couple of years ago, however they are 200 to 300 dollars at the moment. The developers in Zekeriyakoy state that the region is becoming very attractive for the investment buyers.

Çatalca

Catalca is located on the route to the third bridge. Its name is currently being mentioned for the destination to build the third airport. Its land prices have quadrupled with the news about the construction of third bridge and the airport. The villages of Catalca are currently being purchased by the Turkish government to build on.

Anatolian side of Istanbul

Şerifali

Serifali has been rapidly developing in last two years, due to its close proximity to Atasehir. The area has many new housing projects being constructed. 

Akfirat - Tepeoren

They are very close to the area of Formula One track, which increased their property value. The square metre prices start from 30 dollars and goes up to 50 dollars.

Tuzlaorhanli and Aydinli

The region is becoming very popular, as it is located next to Tuzla. The land prices have quadrupled in the last five years.

ANKARA

In Ankara, the most popular residential areas were Gaziosmanpasa and Cankaya. However, today, Eskisehir Road is the most preferred area. Eskisehir road witnessed between 40% and 75% increase in property prices when compared to two years ago. Some of the other areas that are increasing in price includes: Cukurambar , Bilkent , Umitkoy , Cayyolu , Beysukent , Yasamkent Eryaman , Sincan Yenikent , Susuz and Etimesgut . On the other hand, the popularity of Ayranci , Buyukesat , Kucukesat , Yenimahalle , Ulus, Kurtulus , Cebeci and Kolej have been decreasing.   The Developing Areas in Ankara

Yasamkent

Yaşamkent has been receiving a high demand in the recent years. The price for the land is between 500 and 800 Turkish Lira. 

Umitkoy

There is only limited number of lands left in Ümitköy. The land prices per square metre begin from 750 TL. 

Alacaatli

The area is located next door to Konutkent and Yasamkent. 

Beytepe

Although the construction of the new projects has not been completed yet, Beytepe is seen as one of the fastest developing areas of Ankara. Especially, with the opening of Cayyolu Incek road, the prices in the area has increased. 

Sincan

Sincan is one of the fastest developing areas of Ankara. The average property prices in the area between 65.000 and 85.000 Turkish Lira. 

Eryaman

Especially with the construction of Goksu Park, the region has been one of the most favourite sections of Ankara. 

Etimesgut

The approximate price of houses in Etimesgut is around 65.000 to 85.000 TL. The price for a square metre of land starts from 100 TL.   The Future of Ankara

Temelli

Temelli is preferred by many construction companies in the recent years. The villages located on Eskisehir Road are rapidly developing. 

IZMIR

Izmir is starting to have a unique identity with its new urban generation projects and modern form of living. Balcova , Narlidere , Guzelbahce and Urla are seen as the most valuable areas in the real estate market and the majority of the luxurious housing projects are based in these sections.  Apart from these, Alsancak , Goztepe, Bostanli , Karsiyaka and Guzelyali are still very popular. Especially Kordon in Alsancak is home to the most expensive flats in Izmir. Sahilevleri is a developing region and it mainly has luxurious detached villas. The villas are mainly priced between one and two million dollars. 

BODRUM

Bodrum is one of the most popular destinations of the Turkish tourism. Some of the favourite areas for the tourists are: Yalikavak , Turkbuku , Gumusluk , Bitez , Ortakent , Yahsi , Konacik and Mumcular . Gulluk and Tuzla are also two areas famous with new developments especially due to its attractive prices.   Yalikavak is preferred by many investors as it is very easy to rent and sell. The region is highly preferred for its beautiful sea and natural beauty. The average property price in the area is between 150.000 and 200.000 Turkish Lira. 

Gulluk and Tuzla

The land prices in these two areas have doubled in the last two years. The square metre price for the land begins from 50 dollars and rises up to 200 dollars. 

Turkbuku

Villas with swimming pools in Turkbuku are currently being sold between €150,000 and €250,000.

Gumusluk

It has been the most popular area of Bodrum for foreign investors and the property prices increased greatly because of this demand. Currently, the average price for the villas in Gumusluk is around £50,000 to £60,000.

Bitez

The average property price in Bitez is150.000 Euro. However, the prices of housing very close to the sea are significantly more expensive.  

Ortakent Yahsi

Houses with sea view in Ortakent and Yahsi are currently being sold around 200.000 to 250.000 dollars. 

Konacik

The prices of the houses are about 100.000 to 120.000 Turkish Lira. The prices are cheaper than other sections as it is further away from the sea.

ANTALYA

Property prices in Antalya are rapidly increasing especially due to the demand of foreign investors. Antalya is seen as the capital city of tourism. Some of the most famous sections of Antalya are: Lara Street , Hotels Region, Konyaalti Coast Road, Kuzeykent, Yenikoy, Yesilbahce and Fener. The price of a square metre of land starts from 50 Euro and rises up to 250 Euro. The most expensive lands in Antalya are located around Konyaalti Street.  The president of Antalya Chamber of Realtors stated:  ‘ Yesil Bayir , Kuzeykent , Varsak , Doguvilayeti , Yenikoy , Ermenek , Calkaya , Karacali ve Aksu are going to be important areas in terms of real estate investments in the next couple of years’.   

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