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.
Ten minutes away from the beach and even closer to Bodrum Airport, these charming village-style villas are for sale in beautiful Adabuku area and are surrounded by a plethora of daily amenities and facilities.
Do not miss out on this incredible opportunity to purchase two stone-built properties in the sought after area of Kayakoy in the Fethiye region of Turkey – situated within a large plot of land with infinity swimming pool.
These tenanted apartments are ideal for investors who are seeking rental income immediately with the purchase of real estate in Turkey – these residences are nestled within the peaceful area of Tarabya in Istanbul.
Built as hotel-serviced luxury residences, these spacious apartments are for sale in Uskudar and form part of a high quality complex with facilities for residents to enjoy – this is a golden opportunity not to miss.
Nestled within a residential area of Calis, this three bedroom detached house has its own private landscaped garden and swimming pool to enjoy – just a few minutes away from the famous beach and busy promenade.
Overlooking the sea with panoramic views to die for, these designer properties form part of an exclusive development in Bakirkoy and are highly recommended for those looking to obtain a luxury lifestyle in a sought after part of Istanbul.
Located next to a private beach in Yalikavak, these superb Tilkicik Bay apartments are highly recommended for viewing as one of our top picks in Bodrum for investors and lifestyle buyers seeking the utmost in luxury.
These Title Deed ready apartments are found in a residential area of Atasehir in Istanbul and are close to the new International Finance Centre – ideal for investors and those looking to live on the Anatolian side of the city.
5-star sea view residences for sale in Yalikavak with access to a beautiful private beach and wonderful setting just five minutes away from the Marina – these homes cater towards those looking to achieve a luxury lifestyle in Turkey.
Nestled within the city centre of Bodrum, this brand new project offers high quality detached villas just three minutes away from Oasis Mall and within a ten minute radius to a plethora of things to do and see in Turkey.
Available in sizes ranging up to four bedrooms, these spacious apartments are for sale in the peaceful area of Cekmekoy in Istanbul and form part of a low-rise project with an extensive range of social facilities.
These boutique apartments are for sale in central Besiktas in Istanbul and are just a short walking distance away from daily amenities and necessities – ideal for those looking to live in Turkey with children.
One of our top picks in the Dalyan area of Turkey, this charming four bedroom house enjoys tremendous views out across the surrounding mountains and is just a 15 minute stroll in the sun away from the town centre full of life.
Built to modern standards throughout, this brand new project is for sale in Zeytinburnu area of Istanbul and offers apartments in various sizes and types to purchase – all just minutes away from amenities and transport.
Charm Blue Just metres away from the ocean is this first-class project of expansive homes for sale in Zeytinburnu, the perfect option for those looking for elite-living just 10 minutes away from Ataturk Airport and within commuting distances to the centre.
Luxury apartments found in the supreme area of Zeytinburnu in Istanbul, a perfect location found just 10 minutes from Ataturk International Airport and also just 10 minutes from the city centre, ideal for those conducting business in the city centre.
Just a couple of minutes away from Yalikavak Marina are these unique residences for sale within one of the very best projects in the entire peninsula – this is a golden opportunity and one not to miss out on.