International real estate investors and home seekers can search for the perfect accommodations in Turkey without worrying about burdening the locals. Its geographical position, low-cost housing, and the opportunity to get Turkish citizenship within a few months have made it a very popular country for real estate investors - all these combined contribute to a greater query of the average cost of a house in Turkey.
The answer, however, goes back to several other variables among location, type of property, and even individual preferences of the buyer. Therefore, in this blog, we will shed light on the house prices in Turkey and present a landscape of costs in various regions of the country.
Hurdles When Evaluating Real Estate Prices In Turkey
And before plunging into particular numbers, it is also wise to get acquainted with what countervailing trends affect property prices in Turkey. These also include the following:
1. Location
Location is by far the most important factor that governs the price of any house in Turkey. Some of the major cities in the country such as Istanbul, Ankara, and Izmir tend to have higher prices of real estate compared to smaller towns or even rural areas. Such coastal cities as Antalya, Bodrum, and Fethiye are also favored by foreign buyers, thus increasing the real estate market prices in these areas as well. Moreover, properties that are near beaches, in city centers, and tourist spots are generally more expensive.
2. Property Type
The kind of property that you are going for has a very great effect on the price range. The prices are different for scores of apartments, villas, and commercial buildings. For example, private beachfront luxury pool villas are more expensive than inland apartments.
3. Size and Amenities
The square footage of the house is another primary factor that is used to determine the price. The bigger the house with several bedrooms, spacious décor, and fitted modern facilities the higher the price, conversely smaller usual houses do not cost that much. Homes close to the sea, with a free yard, with a swimming pool, or within the enclave usually have a high price.
4. Age and Condition
Price-wise, any newly developed construction or current housing units are more modern houses. On the contrary, old houses sitting on the gold edge no matter the age will attract a lot.
5. Market Trends
There is no doubt that the housing sector in Turkey, like any other housing sector in the world, is subject to the law of demand and supply. The prices may go up in some areas due to foreign investment squeeze or due to some urbanization projects. Also, external factors related to the market, for instance, recession or inflation, may affect the prices of houses in general.