If you are looking to invest in Turkey property, you must understand what the approximate cost of a property is in the country. The thing here is to understand the total cost of a property in Turkey.
Property in Turkey comes at a price that is decided by the type of property that you are buying as well as the location of this property. However, it is always better to invest in Turkey property compared to the UK.
Real estate in Turkey is much cheaper compared to the United Kingdom where property prices are up the roof. Especially in the post-Brexit UK that is so desperate to cash in on any opportunity to fleece some pounds off rich foreign investors.
A perfect way to describe this picture is to compare typical property prices in both regions. For example, in the UK, the average amount for a square meter of property (apartment) in a city centre is £4,247 GBP. But in Turkey, you can get the same property for £781 GBP.
Property Prices Per Square Metre
To invest in Turkey property like a smart investor, you will need to know the average price per square metre of your intended property within various locations.
A reliable yardstick is to use two variables: price per square metre for an apartment in the city centre and the price per square metre for an apartment far from the center of the city.
This is the main yardstick used to determine the various property prices in some popular cities. For example, in Istanbul, the price per square metre for an apartment in the centre of the city is 1459 Euros.
In the same Istanbul, the price per square metre for an apartment far from the center of the city is 818 Euros.
In Bursa, which is just a drive away from Istanbul, the price per square metre for an apartment in the city centre is 1230 Euros, while the price per square metre for an apartment far from the center of the city is 1122 Euros.
Izmir, the price per square metre for an apartment in the centre of the city is 899 Euros, while the price per square metre for an apartment far from the center of the city is 584 Euros.
In Ankara, the price per square metre for an apartment in the centre of the city is 808 Euros, while the price per square metre for an apartment far from the center of the city is 566 Euros.
Lastly, in Antalya, the price per square metre for an apartment in the centre of the city is 782 Euros, while the price per square metre for an apartment far from the center of the city is 446 Euros.
Invest in Turkey Property – The necessary pitfalls to stay away from
Before you Invest in Turkey property within any district, there are certain pitfalls and gray areas to avoid. Many investors have been burned, so you may want to follow a safe path and invest smartly. Things to look out for are:
Perform enough research before you go ahead and buy your properties off-plan. You could end up losing your money if the developer or builder goes bankrupt in the middle of an incomplete project.
Never buy or invest in a property in areas where rental incomes are very low.
Never fail to properly inspect any old property you are buying. Many older real estate properties in Turkey are constructed wrongly by using cheap and inauthentic building materials. Many old properties in Turkey usually require a lot of work and capital to fix.
Never try to work alone when looking for property to buy in Turkey. This may be an easy way for you to get cheated by experienced property sellers or buyers. You are recommended to always use a qualified professional real estate expert that can be trusted and it 100% reliable. This is especially recommended if you are a foreigner looking to buy any real estate property in another country.
