Cheap Property in Turkey: Hot Deals in Real Estate
Buying cheap property in Turkey is turning into a strategic investment opportunity, particularly since prices are expected to rapidly escalate as we near the completion of many new massive projects. But as a foreigner taking interest in Turkey’s real estate market, there are a few things you have to understand before browsing your options for cheap property in Turkey.
Cheap Property in Turkey on a Global Scale
Turkey’s recent rise in several international markets from health to tourism has presented it as a niche of affordable opportunities. Likewise its rise to the real estate market, where demand for property in Turkey is outweighing the available projects.
But to put things into perspective, how cheap is cheap property in Turkey? Let’s take a look at the average prices per square meter in the popular destinations for real estate.
New York $16,000
Are these prices accurate? Not really. Istanbul is considered the highest priced in Turkey, so you can still find cheap property in Turkey under Istanbul’s average. It also depends on the facilities nearing the project, so you can also still find cheap property in İstanbul that falls beneath the suggested benchmark. Similarly, some projects are priced slightly higher. But the average is there to juxtaposition the drastic difference in real estate prices for luxury property in the biggest destinations.
The market is also the safest and its relative novelty guarantees quick returns. Where the increasing demand will induce a rapid surge in prices before they stabilize as the market demand stabilizes. It’s well known in real estate that market demands are a major influence in driving price increase among the market.
Cheap Property in Turkey on a Local Scale
Istanbul is dominating the spotlight in terms of real estate market activity, equal parts it’s potential for quick profits and increasing demand. While on an international scale Istanbul has the biggest advantage; its witnessing the fastest rise in real estate prices on a local level. Switching from and international lens to a local one will have you evaluating options with objectivity.
Comparing the prices of cheap property in Turkey will depend on several factors. These include:
- Nearby Facilities
Is the property well served in terms of transportation and commercial activities?
- Nearby Projects
Is the property built near upcoming or present massive projects?
- Region Urbanization
Is the project area recently witnessing urbanization?
If you’re not looking at cheap property in Turkey through an international market difference, then you want to scale down to a local level. And these three questions will help you decide what factors influence the price of cheap property in Turkey.
Cheap Property in Turkey For Sale
How should you buy cheap property in Turkey?
Do You Want the Property for Investment and Short-Term Profits?
If you want your property in Turkey for investment purposes, you’re better off taking the international market difference. The cheap property in Istanbul has a promising investment significance both for long-term and short-term revenue. But if you’re seeking short term revenue through:
Quick rental returns
Resale with a big profit margin
You have to buy cheap property in Turkey in strategic locations. While these locations will cost slightly more than other areas in Turkey, their investment value is through the roof.
Cheap Property in Turkey for Investment
Projects Near Universities
University students and even university staff prefer housing options in proximity to the university. Which gives the area a dense rental movement with guaranteed returns. Some of the popular locations for cheap property in Turkey close to universities include:
Cheap Property in Kagithane
Kagithane hosts some of the biggest universities in Turkey: Bilgi University, a leading go-to for international students in Turkey. Aside from the presence of universities like Bilgi, Kagithane is an expanding region predicted to earn a similar economic value to Levent and Meslek.
So while the region is in general undergoing rapid price increase for real estate, you can make profit from leasing the apartment to students and staff in the area. Some of the cheap property in Turkey that would gives you a massive opportunity:
Projects Near Medical Cities
Turkey is nearing the completion of the largest medical city in Turkey based in Basaksehir. This medical city consists of 9 hospitals and will host around 10,000 employees. A majority of which will likely to hunt for housing projects in the area. Not only will this help you secure a rental plan quickly, but gives you the opportunity to re-sell property in an area where many tenants are looking to reside for the long-term.
Basaksehir has a very unique real estate future with all the elements that foster guaranteed investment opportunities. Hence, making it the ideal location to buy cheap property in Turkey.
Cheap property in Basaksehir
Projects in the Center of Turkey’s Economic Life
Projects in areas like maslak and levent, the incubators of the upper class and home to headquarters of the largest brands, are both golden opportunities for investment. The luxurious projects spread across Maslak’s and Levent’s skylines offer rare opportunities for luxury, comfort, and profit. As Turkey’s economic hub, both regions host a large number of employees making it easy for you to put the project up for rent or sale. So if you’re after short-term returns, these two regions are the ideal place to buy cheap property in Turkey.
Cheap property in Maslak
Projects on the Bassin Express
The Bassin Express is Turkey’s lifeline connecting between the two main roads in the city of İstanbul, the E-5 and the E-80 leading to the third airport in Istanbul. The Bassin Express is predicted to become the new Levent with a heavy commercial activity tailing the Bassin Express. It’s the perfect place to buy cheap property in Turkey for short-term returns. As the commercial activity in Bassin Express from the biggest international brands increases in the region, prices will take off. Ensuring a significant profit margin between the short period of your purchase to its resale.
Cheap Property in Bassin Express
Option 1: Apartments for sale in Istanbul ALH-710
Do you Want the Property for Personal Use and Long-Term Profits?
If this is the approach you’re after you can secure extremely cheap property in Turkey in areas with good transportation and facilities that warrant decent returns in the long run. Such areas include Gungoren of Bakirkoy. You can even consider areas out of Istanbul for very cheap property in Turkey.
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