Types of properties in Turkey and the features of each:
The real estate market in Turkey witnessed a significant and remarkable boom and growth in the last period. This growth continued despite all the difficult conditions that the Turkish economy went through. The permanent and continuous demand for Turkey's real estate is the presence of many types of properties in Turkey of different forms and sizes. This matter also contributed to Attracting more foreign investment to the Turkish real estate market because this diversity in real estate types means high and guaranteed investment returns and profits.
And the types of properties in Turkey differ from the types recognized around the world. So those who are interested in the field of real estate investment in Turkey must familiarize themselves with these differences to know the conditions of the real estate market in Turkey and therefore have a complete idea for its next investment in Turkey.
Types of Properties in Turkey
In general, properties in Turkey are divided into two main types under which the most detailed types fall under, which are old or resale real estate and new real estate, and these two types guarantee a large number of types, we will talk about them in detail.
This article contains all of the information you need to know about owning and investing in various types of apartments in Turkey.
Residential properties include many different types of houses, and it is considered a common and sold type of properties in comparison to the other types.
Residential properties are used for the purpose of housing and stability, or for investment, in order to obtain a regular monthly or annual return.
Residential apartments within a residential complex.
They are usually higher in price than apartments in ordinary properties, and these residential complexes are distinguished by providing many services:
- Security services, as they provide day and night guard personnel.
- Swimming pools.
- Sauna and fitness centers.
- Turkish baths.
- Cleaning, care and maintenance services for buildings.
- Private gardens and playgrounds.
Payment is immediate or in installments according to the agreement. In the case of installments, the price of the apartment increases by 10% -50%, depending on the period of the installment and the down payment.
Residential apartments outside a residential complex:
It is usually independent buildings, and it consists of 4-10 floors at a maximum, but it is without any services except for the public services provided by the Turkish government in each neighborhood.
And the average price of apartments in Turkey in independent buildings outside of housing complexes is about 60 thousand dollars and increases depending on the location of the building. For example, the prices of apartments in Istanbul in independent buildings located in tourist and commercial neighborhoods are higher than others.
1- Old Apartments
They are apartments located in buildings over 20 years old, the price of which depends on the age of the building, its location and the view provided by the building.
This type of property in Turkey provides more room for choice for the foreign investor or the person who wants to own a property in Turkey in general, as the prices of these properties are low and suitable for most budgets.
As the property is old check the price by 10-30%.
2- Studio Apartments
Studio apartments are characterized by very small areas, usually 60 square meters, and it consists of one bedroom connected to the living room, kitchen and bathroom. It is suitable for the category of young or single workers, because it does not allow more than one person or two at most.
Duplex apartments consist of two floors, connected with a private internal staircase, and its area varies according to the needs of people, starting from two bedrooms (2 + 1), and can reach six bedrooms (6 + 1) and more.
It is the most preferred type of real estate by large families, and it can also be used as two separate residential apartments, and each floor is a separate apartment. In addition, its cost is low compared to standalone villas.
4- Triplex Apartments
They are three-story apartments, with an internal staircase connected to them, similar to the organization of duplexes, and can be used for large families or as separate apartments, as they are of low cost compared to independent villas.
5- Penthouse, Townhouse and Twin house
The penthouse apartments occupy the upper floor of large buildings or skyscrapers, take the entire surface area, have an outdoor terrace, and are considered to be luxurious and expensive apartment styles, as they are isolated from the rest of the apartments, and often contain a private pool.
Townhouse is a small villa adjacent to each other, characterized by a unified architectural design, and the detached villa is connected from the inside with a small garden, sometimes consisting of one or two floors.
Twin Houses are two semi-connected villas, exactly identical to each other, but each has its own entrance and separate garden, shared by two families.
6- Buying a Villa in Turkey
The villa is a separate unit, and it consists of two, three or more floors, suitable for large families. The villa features a private garden and sometimes contains a private pool. It is also surrounded by fences in all directions and has a private entrance.
Independent villas are usually concentrated in the country's prestigious neighborhoods or in mega residential complexes. Also, the independent villa is considered one of the less demanded real estate compared to other types of properties, due to its high cost.
Investment in lands is one of the guaranteed investments in Turkey. There are many different types of lands in Turkey, including:
Agricultural lands: They are lands that are used for agricultural purposes, whether they are farms and orchards, green lands, or wastelands and they are empty land.
Residential lands: They are lands that are used for building buildings, and they are the property of the state or the property of individuals concerned, and provide guaranteed investment returns if they are sold after a period of time, especially in light of Turkish economic growth.
Public lands: They are lands that are mostly considered public property of the state.
This type of properties is used in Turkey for investment or commercial purposes, and provides great investment returns, and is a huge residential complexes, in the form of skyscrapers, or commercial buildings, containing all the requirements, and you can buy a type of properties in the housing complex, such as:
1- Shops and Stores
Considering trade as one of the sources of income spread in Turkey, when buying stores or stores, the return on investment is huge and completely guaranteed, especially the stores contracting with international brands, which are located in large shopping centers.
2- Office Units
The rate of demand for the rental of office units increased significantly, due to the emergence of several new companies in Turkey, due to the high economic growth rate of 7.4%, and the inflated volume of investment, so the office units are one of the pioneering investments of many real estate owners, where they have guaranteed investment returns.
3- Restaurants and Cafes
The profits from restaurants and cafes are greatly increasing, especially the popular restaurants and cafes, which are located in the tourist and vital areas in Turkey, as Turkey is an important tourist destination for many tourists from all over the world.
4- Shopping Centers
An integrated shopping center can be purchased, and contracted with world-famous brands, and then stores are rented, enabling a huge monthly or annual return.
Turkey is considered a global and primary tourist destination, as buying hotel apartments brings a huge and fully guaranteed return, especially in the tourist seasons in Turkey.
6- Educational and Medical Buildings
Educational and medical buildings provide guaranteed returns, especially due to the high population growth rate in Turkey, which has reached about 1.3 percent annually, and the youth category occupies the largest proportion and is estimated at 25% of the total population, in addition to the presence of many foreign residents residing in the country, which are close to their number 5 million people.
Industrial real estate
This type of property in Turkey is popular because of its low cost, as it is in remote areas away from the city center, and industrial properties include factories, warehouses, production centers, in addition to stores and research and distribution centers. These properties in Turkey provide its owner with fixed income, when it is rented for investment purposes.