Turkey is a vast country, over three times the size of the UK and some 25% larger than France. Straddling between Europe and Asia, with almost 7,000 kilometres of Mediterranean, Aegean and Black Sea, Turkey is home to a unique mosaic of cultures, diverse landscape and dynamic social make up. If you are looking for property overseas, wish to buy a holiday home in the sun, a place to retire or purely real estate investment in an upwardly mobile country, then no search is complete without having a good look at Turkish real estate for sale.
Where to buy a holiday home in Turkey?
With so many lovely resorts and towns to choose from, it is a task in itself to decide where to buy that special villa in Turkey or that sea view apartment, which will be your new home in Turkey and double up for some rental income. According to statistics published by the Turkish real estate agents association, Antalya, Fethiye, Bodrum and Side are the most popular holiday home destinations in Turkey. Properties in Antalya enjoy the proximity of a bustling seaside city with lovely beaches and excellent golf courses of Belek, whereas Kalkan properties provide some of the most dramatic sea views experienced in the entire Mediterranean, not to mention Kalkan's elegant setting and fine dining. Side holiday homes for sale are ideal for families with children, where shallow waters gently touch sandy shores. Real estate in Bodrum on the other hand is your key to Turkey's most sophisticated resort with plenty of sailing and seafront homes in lovely Yalikavak, Turkbuku or Gumusluk. Then we have sun-soaked Fethiye with most affordable villas and flats for sale in Turkey near the most pictured Oludeniz beach.
Looking to retire overseas - where should you buy your retirement home in Turkey?
When considering a permanent move abroad and buying a property for year round living, there are some important factors to take into account. Proximity of amenities, hospitals, schools and a stable local community are some of the elements one would naturally look at. In our dealings with over 10,000 people from all over the world looking at Turkish real estate with a view to permanent living in Turkey, we find that properties in Fethiye, Bodrum and Antalya (including Side and Kemer) are natural favourites for year round living. They all have excellent climates with over 300 days of sunshine, mild winters and the right level of facilities to sustain year round living.
Where to invest in Turkish real estate?
With an average annual GDP growth in excess of 8% for 2010 - 2012 period, Turkey has posted exceptional economic performance compared to the EU zone and indeed to BRICs (Brazil, Russia, India, China). In 2011 and 2012 Turkey's economic expansion was only second to China. IMF estimates that Turkey will yet again outperform most BRICs countries and certainly the entire Euro zone in 2013 - 2017 period with an average annual expansion of 5%+ projected. Turkish real estate industry is currently one of the major growth sectors within Turkey. With a youth population of over 60% of entire 76 million and increasing wealth in the country, domestic demand for the Turkish real estate industry is fast climbing. Turkish real estate agents association estimates that by year 2015 there will be a shortage of around 2 million quality housing in Turkey just to accommodate domestic demand, this is not even counting the booming tourism sector, 6th most visited country in the world in 2011, which also puts a heavy demand on coastal hotel, villa and apartment projects. In 2011, property market in Turkey grew by some 18% compared to year before. Considering that at the same period Greece, Spain and Portugal came close to announcing bankruptcy underlines the viability of owning property in Turkey.
Prime location Istanbul or better to look at prospering Antalya?
From a purely investment viewpoint property for sale in Istanbul deserves a close look, however, one needs to be very selective. There are many offers on the market and not all are viable. We recommend real estate in Istanbul prime locations as opposed to heavily marketed bargain apartments on the outskirts of the city. Naturally, prime locations of Istanbul are expensive, therefore we suggest investors should have a good look at Antalya property market as a viable and exceptional alternative to prime location real estate of Istanbul.
How about rental returns and capital growth?
On the Mediterranean and Aegean coasts of Turkey, your holiday home in Antalya, Fethiye, Kalkan and Bodrum could easily deliver in excess of 6% rental returns after all expenses paid. Considering that the average rental yield in the UK is 4.8%, this is quite a strong return. Coupled with steep capital growth in several years, you could build your very own nest egg in Turkish real estate. Another interesting profile to underline is the beachfront Turkey property segment.
Can you suggest a niche segment of Turkish real estate to keep an eye on?
Keen investors and of course keen sailors alike should keep a solid eye on waterfront properties in Turkey. This is an incredibly lucrative segment of the Turkish real estate market. Compared to France, Spain and Italy, beachfront properties in Turkey come at one third the price tag for comparable villas and apartments. Luxury villas for sale at the seafront in Bodrum, Kalkan, Kas and Fethiye could be purchased from as little as Euro 400,000, whereas a comparable villa in Spain or France would cost no less than Euro 1.3m. This is a huge price gap and we suggest that it is an artificial one. We do not expect prices of beach front properties in France to come down for these are highly desirable homes, however, as more and more people discover the stunning coastline of Turkey, we expect waterfront homes in Turkey to appreciate quite significantly over the next 3-5 years. The number of foreign registered boats and yachts entering Turkish waters have tripled since 2005, clearly indicating that Turkey is becoming a desirable boating destination. Considering the breathtaking beauty of the bays and coves in the Aegean and Mediterranean waters of Turkey, this is not surprising at all.
Available in sizes up to four bedrooms, this contemporary project offers modern apartments for sale in the Sefakoy area of Kucukcekmece and is close to public transportation for moving and commuting to the centre.
This villa has been laid out internally in an Italian style and is found in a superb area of Kas – on the market today as completely furnished and decorated, this would make for a lovely family home with sea views in Turkey.
This is a unique opportunity to purchase two apartments in Kas – suitable for buyers looking to invest with tenants currently in place providing high income. Located in the Cerciler area of Kas, these units have beautiful views out to the sea.
Constructed using locally sourced stone, this spectacular family home is found in a residential and peaceful area of Kas and has beautiful sea views stretching endlessly, along with a private pool and garden for relaxing outside.
In a prime area of Antalya, this Konyaalti duplex apartment is ready to move in immediately and has been kept in excellent condition throughout – suitable for buyers looking to obtain Turkish Citizenship by Investment.
Looking out towards the sea with a peaceful view, this resale apartment in Izmir is found in the residential neighbourhood of Karsiyaka and is suitable for buyers looking to obtain Turkish Citizenship by real estate investment.
One of the best projects that you will find in the Deliktas area of Fethiye, this top quality site offers a range of apartments for sale up to three bedrooms and is just a short distance away from local amenities and necessities.
With five bedrooms inside, this stunning penthouse apartment has room for the largest of families to live together in a prime area of Antalya – this Konyaalti residence is just a few minutes away from the nearest beach.
Suitable for family living in the heart of Istanbul, these affordable properties are for sale in the central area of Bomonti within the Sisli district and enjoy access to a range of on-site facilities and social spaces including an equipped gym.
This is a unique opportunity to purchase a luxury designed high quality apartment within the new financial centre area of Istanbul, Atasehir – just moments away from public transport for those looking to move around the city.
Built to luxury standards by a top developer in Belek, this project offers outstanding villas for sale with their own landscaped gardens and swimming pools – all just moments away from local amenities, beaches, and golf courses.
With access to a range of social facilities and amenities, these spacious villas are for sale in a desired area of Konyaalti close to the Bogacay River project and have been constructed to luxury standards from top to bottom.
Detached house in the peaceful neighbourhood of Agullu in Kas, situated a 7km drive away from the main town centre full of life and things to do – this property has panoramic views heading out towards the sea and surrounding nature.
Fantastic sea view duplex apartment for sale in the centre of Kas region in Turkey, just a few minutes walking distance away from everything needed on a daily basis – this listing has the option of being purchase as completely furnished.
Looking out towards the Marmara Sea and Princes Islands are these fantastic apartments for sale in Kartal area of Istanbul on the Anatolian side of the city – available for buyers to buy in sizes up to four bedrooms.
This beautiful property is for sale in the peaceful area of Uzumlu in Fethiye, surrounded by fantastic nature views for a private lifestyle guaranteed – this is a must see home with its own private swimming pool and green garden.
These top quality homes are available in the Buyukcekmece area of Istanbul and are situated just 100 metres away from the seaside with full panoramic views. Buyers can choose from units in sizes up to seven bedrooms.
Title Deed ready residences for sale in Maltepe area of Istanbul, looking out towards the Marmara Sea and surroundings with stunning views – this project offers homes up to five bedrooms for buyers to choose from.
Built to contemporary standards throughout, this exceptional development offers high quality apartments for sale in the Taksim area of Istanbul and is within a short walking distance to famous monuments and central landmarks.
These family apartments are found in the desired area of Esenyurt in Istanbul and form part of a high quality complex 50 metres from a Subway for commuting and moving around the city towards the centre on a daily basis.