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.
Renovated to modern contemporary standards throughout, this beautiful detached villa is located within the residential area of Zekeriyakoy in Sariyer and is just five minutes away from the nearest International School.
Suitable for Turkish Citizenship by Investment, this panoramic duplex is located at Tilkicik Bay in Yalikavak and is in pristine condition throughout – complete with access to a pebble beach and pier for relaxing.
Built to luxury standards from top to bottom, these exclusive mansion-style villas are for sale in the sought after area of Turkbuku in Bodrum and are just moments away from beach clubs and everything needed daily.
Located just a few metres away from the sea with beautiful views is this lovely house for sale in Buyukcekmece area of Istanbul – suitable for buyers who are looking to obtain a Turkish Passport after buying real estate.
Built to luxury standards throughout, this beautiful villa is ideal for those who are looking to live in Turkbuku area of Bodrum on a year round basis and is just a few minutes walking distance away from a beach club.
Right in the heart of Istanbul city centre, this beautiful house is for sale in Levent and has its own private landscaped garden and parking spaces for up to three vehicles at once. Homes of this quality are rare to market.
In the heart of Beyoglu, this is an exceptional investment opportunity for those looking to run their own successful business in Istanbul, Turkey. This hotel offers apartment-style units that can be rented short and long term.
Directly at the seaside with a panoramic view that will remain forever, this deluxe penthouse apartment is for sale in the sought after area of Konyaalti and forms part of a 5-star project equipped with hotel-like facilities.
Looking out across Macka Park and the city of Istanbul, this fantastic apartment is for sale within the important central area of Nisantasi and is just a short walk away from 5-star hotels, parks, and daily necessities.
Built to excellent standards from top to bottom, this exquisite project is located on the Asian side of Istanbul within the sought after area of Kadikoy and enjoys tremendous sea views from apartments on the higher floors.
Raise your children in a beautiful area of Yalikavak when you buy one of these spectacular villas with full panoramic views out towards the sea and surroundings – suitable for those who want to apply for Turkish Citizenship.
Live a life of luxury when you purchase this beautiful mansion-style villa in Tepekent area of Buyukcekmece complete with delightful Lake views and a private lifestyle from a huge plot of land and landscaped garden.
Built to resemble life in California, these deluxe villas are nestled in the peaceful area of Dosemealti and are highly recommended for viewing – you will struggle to find a better family home than this in Antalya.
Located in a sought after area of Tarabya, this immaculate property is ready for a new family to move in immediately and is a must see for those wanting to live within easy driving distance to all amenities and the city centre.
Completely furnished and ready to move in, this tremendous stone built mansion is for sale in a residential area of Dalyan and is a must see property – you will not find many homes better in the Dalyan region than this one.
Tremendous family homes for sale in a residential area of Buyukcekmece, situated just a few minutes away from local amenities and necessities for those relocating with young children – homes are selling out quick here.
An investment that combines a superb lifestyle in an up and coming area behind West Marina in Istanbul is this range of properties for sale in a high class project well equipped with everything one would need for day-to-day living in a striking and serene location.
Stone built private mansions for sale at Demirbuku Bay in Bodrum, just a few metres away from a 1.5km shoreline and beach for relaxing at the seaside or sailing some of the best sailing routes in the peninsula.