Property prices in Turkey

Brits, Russians and Germans are the main foreign buyers of property in Turkey. Real estate going for €50,000–70,000 is in demand, particularly resort apartments in Alanya, Antalya, Belek, Bodrum, Didim and Fethiye, as well as flats and commercial premises in Istanbul.

Property prices in Turkey are low in comparison to Western Europe. Property in Alanya and Antalya is cheap at €300–400/sq.m and €400–500/sq.m respectively. These cities are bustling all year round, the infrastructure is developed and there is a wide selection of villas and apartments.

Along the Aegean coast, housing is more expensive. Apartments in Izmir, Turkey's third largest city, cost €500–800/sq.m. In Fethiye, prices range from €600–1,600/sq.m, rising to €1,000–1,300/sq.m in Bodrum. A three-bedroom seafront villa with a swimming pool and garden might cost about €340,000. Detached houses with swimming pools in the Gümüşlük Bay area are sold for €350,000 while prices for pre-owned two-bedroom apartments start at €50,000.

Property in Istanbul is listed at €700–1,600/sq.m. Leasing is very profitable with rentals going for €200–3,000 per week and rates constantly on the rise. Property comes in all shapes and sizes in Turkey’s largest city: modern flats, studios, apartments and ancient wooden buildings waiting to be renovated...

Ski resorts (Palandöken, Uludağ, Erzurum) are not in high demand nor is real estate really in supply. Property development, with the exception of hotels, has just started here. There is no particular demand for housing and it is not considered a profitable investment: people buying houses usually intend to live in them.

Property prices in Turkey are steadily on the rise: the national property prices in Q4 2014 rose by more than 16% against the same period last year.