Property in Bursa for sale
How much does it cost to buy a property in Bursa?
Bursa properties that are currently offered for sale range from USD 65,000 for a modern two bedroom luxury apartment and as little as USD 300,000 for a spacious detached house that offers 5 – 6 bedrooms in one of the prime location in the city. Comparable properties located in Istanbul would be at least double the price and would also be located in the suburban areas rather than the prime city location that a Bursa property can offer.
Is Bursa real estate a good investment?
Bursa is a city with ever expanding economic regions, a large population that is becoming more affluent year on year and this all contributes to an area that is ripe for a prime property investment. The city of Bursa is an important cog in the Turkish economic wheel and currently produces over 4% of all goods and services produced and supplied in Turkey. It is the second highest exporting province after Istanbul. The two main industries in the region are textiles and the car industry, with the car industry being especially important as a number of well-known foreign brands have their headquarters in the city. Over 60% of the 1 million plus vehicles that were produced last year came from Bursa with the well known manufacturers Renault, Fiat and Peugeot all having large plants here. Textiles are also vital and are importance for employment in the region. With the thriving industrial scene the region continues to grow in affluence and population which points to a growing demand for properties which are still priced well below areas such as Istanbul. The transportation links that have recently been completed have made Bursa far more accessible than ever before and its profile is now starting to become better known worldwide. It is with these points in mind that the bargain Bursa properties that can still currently be purchased at a relatively low value, a fantastic investment which will only grow as the area does.
Who are the main foreign buyers of homes in Bursa?
Last year saw records number of Arab tourists choosing to travel to Turkey for their holidays, with the number of tourists from Arab countries increasing to over three million 9% more than the year before. The visitors claim to feel more at ease in Turkey, a majority Muslim country, than in other Western tourist destinations. The Arabs come to enjoy Turkey from the tourist’s perspective but also there is an increase in those becoming involved in large real estate acquisitions. German, British and Russian nationals are known for owning lot of Turkish property in the well known beach destinations such as Kemer or Bodrum. 2013 saw over fifteen thousand foreigners purchasing properties in Turkey, and now the Arabs have decided that they should be involved in the Turkish real estate. With this in mind, statistics show that the Arabs bought in the excess of 2,500 properties in Turkey in 2014 surpassed all other investing countries. At the property convention last year held in Istanbul 10,000 Arab visitors expressed interest in villas, residences, shopping malls and office space with sales over the three days amounting to USD 500 million up a staggering USD 380 million on the year before. Whilst the new is fun and attractive older villas are also in high demand by Arab billionaires’ who still wish to purchase in the seaside residences in places such as chic Istanbul Bosporus neighbourhoods like Kandilli, Bebek and Yenikoy. Apart from Istanbul, Arabs are buying villas close to Sapanca Lake and Kartepe, with increasing interest in the city of Bursa, an important historic centre with beautiful natural surroundings.
Is Bursa all about bargain properties and low cost of living?
Living in Turkey is not expensive for the foreigners from EU, USA and GCC countries. There are few locations where the housing and cost of living will not be cheaper than their home countries. This is certainly true of Bursa which is an area with excellent employment prospects and also an area that has been on the receiving end of significant redevelopment in particular to the transportation links and roads making it so much easier to commute to and from, but also much easier for tourists to visit. Whilst there are bargain properties still to be purchased in Bursa and the cost of living is that much lower, there is so much more to the area that just this. Bursa was at one time the first Ottoman Empire and as such the area is steeped in historical sites and areas of beauty. Bursa is definitely far more than just a bargain property with a low cost of living, it is an area that is gaining in affluence year on year and sure to become a highly sought after city of the future.
Residential properties located in the peaceful area of Nilufer just ten minutes away from the city centre of Bursa and within close proximity to everything needed for a high quality of life, including schools, shopping malls, and transport.