Apartment Prices in Turkey

Apartment prices in Turkey do not constitute a major obstacle to owning a home there. You can do this even if you are a foreigner, as the legislation issued by the state in the last decade provides flexible facilities, procedures, and conditions, allowing non-citizens to buy homes, and broad opportunities for real estate investment.

This article provides a sample of Apartment prices in Turkey, in US dollars, Turkish lira, and Saudi riyals.

Apartment prices in Türkiye are in Saudi riyals

Different regions in Turkey provide a wide range of real estate investment options, and prices are subject to location standards and services attached to and surrounding the apartment, as well as the extent of the excellence of the architectural design.

Real estate consultants determine the average prices of apartments in Turkey in Saudi riyals according to the previous factors, as shown in the table below for a sample of the most prominent cities :

• Apartment prices in Türkiye in Saudi riyals

Apartment prices in Türkiye in US dollars

Real estate prices were affected by the fluctuation of the price of the Turkish lira against the US dollar, and this factor constitutes an addition to the pricing standards for apartments in the country.

While demand for certain sites declines, others flourish due to the combination of these criteria. In general, location remains the basis for pricing, followed by other relatively less important specifications.

• Apartment prices are in US dollars

The table below shows a sample of the prices of the smallest apartments in some cities, the value of which naturally increases with the increase in area, specifications of the neighborhood, and extent of its service :

Apartment prices in Türkiye in Turkish lira

The tidal movement in the Turkish economy has not affected Turkey's position as an attractive country to live in, due to the relatively low cost of living and the amazing diversity of options, which makes owning an apartment a dream that can be achieved with a moderate budget, especially because this leads to the possibility of obtaining Turkish citizenship. In general, the Turkish lira is considered the officially approved currency for completing real estate purchase and rental transactions in Turkey.

Real estate consultants estimate the average price in Ankara, the second most crowded city after Istanbul, for a 100-square-meter apartment in a relatively new residential complex, at about one and a half million Turkish liras, a number that decreases when moving to less crowded and less spacious cities, such as Izmit, the beautiful city in the northwest of the country.

House prices in Türkiye

Turkey has a special tourist attraction, with indelible imprints of nobility that bear witness to various eras of history, so this country was able to occupy an advanced tourist rank in the world.

However, the issuance of the foreign ownership law in 2012 made it a desirable destination for real estate investment pioneers, especially The Arabs are among them, and it was natural for apartment prices to rise successively during the following years, as they increased from 60 to 90 percent, accompanied by the recovery of the real estate market and its openness to those wishing to own property from 129 countries.

Despite the rise in prices, average real estate prices in Turkey are still 50 to 60% lower than their counterparts in Eastern Europe, and 80 to 90% lower than their counterpart prices in Western Europe, according to a report by the American newspaper The Times.

These encouraging developments coincided with the authorities issuing laws that include excellent investment facilities, befitting a country that continues its economic advancement in light of political stability and cumulative development prosperity.

In light of all this, the quality of new residential projects has improved, and the standards taken into consideration when buying or renting an apartment in Turkey have increased, with the location continuing to be a priority when determining the price, so that the cheapest apartments remain the furthest from the city centers, and the closest to the outskirts and suburbs, without this meaning This is a decline in the level of basic services.

In addition to location, real estate experts price apartments for sale based on other factors that multiply their value, which are :

• Proximity to transportation networks, such as bus, metro, and tram lines, ports, and airports, which is an increasingly important factor in crowded cities, such as Istanbul, Ankara, and Izmir.
• Proximity to various development projects, especially those that provide job or investment opportunities. An example of this is the new Istanbul Canal, the lands on both sides of which continue to attract investors.
• Proximity to the most famous tourist attractions, which means being in a place full of the best services.
• The height of the apartment. In places with attractive sea or mountain views, apartments with higher floors gain added value, while apartments with lower heights are relatively cheaper.
• The property’s immunity to earthquakes, as the age of the property is included in its specifications, determining its ability to resist violent earthquakes and natural disasters. Of course, its price increases with these standard specifications.

Below is a sample showing the prices of apartments in Turkey by city and type, based on the average price per square meter :

Apartment prices in Trabzon City

The city of Trabzon in northern Turkey is characterized by its stunning nature, calm atmosphere, and integrated infrastructure, even in its mountainous countryside, with an added value represented by the cheap costs of ownership, compared to the prices of apartments in Turkey in general. Houses in Trabzon are much cheaper than in Istanbul, for example.

Economists in Turkey set the average cost of living in Trabzon at $577, and it is located on the list of the least expensive cities in the world. It is preferred by many foreign investors, due to its richness in natural attractions, such as permanent greenery and views of the Black Sea coast, as well as its antiquities and cultural attractions that tempt History lovers.

Although the rise in the value of the dollar against the Turkish lira recently affected the real estate investment movement in Trabzon real estate , it is still active at a good pace. Apartment prices in Trabzon start at $66,000 for 3+1 apartments and approximately $70,000 for 4+1 apartments. Comparing the prices in Turkish lira, the price of the apartment varies between 450 thousand Liras for 3+1 apartments, and 550 thousand Turkish liras for 4+1 apartments. Taking into account the factors of location, proximity to the sea, engineering design, and services available in the building and the region.

Apartment prices in Bursa City

The city of Bursa in northwestern Turkey occupies an important position on the real estate investment map, especially due to its proximity to Istanbul, and its presence at the intersection of rapid land and sea transportation.

In addition to its beautiful landmarks, which make it an active tourist center, especially in the winter, it is generally calm and rich in service facilities. Integrated.

Bursa is gaining increasing real estate importance thanks to its lower costs of ownership compared to Istanbul. There are residential projects that are popular among real estate investors, such as the two expanding Nilufer and Yildirim projects, where the available apartment sizes vary, from 2+1 and 3+1 to 4+1 duplexes, with multiple options of service and entertainment facilities surrounding.

The starting price per meter of apartments for sale in Bursa From $680 for a 2+1 apartment, which means that a house with an area of 94 square meters is priced at about $65,000, and another house with an area of 150 square meters is priced at approximately $102,000. Numbers vary according to the building location, its view, its height, the features of its design, and the services attached to it.