Luxury homes for sale Turkey

Welcome to the Exclusive Gateway to Luxury Home in Turkey

As the nexus of historical grandeur and modern opulence, Turkey offers an array of homes that redefine luxury living. From contemporary villas dotted along the turquoise coast to magnificently restored Ottoman mansions in Istanbul, these residences present an unmatched blend of style, comfort, and breathtaking vistas.

At the crossroads of Asia and Europe, Turkey is a country with a rich cultural heritage and vibrant modern energy. It is home to bustling cities, charming coastal towns, and breathtaking landscapes – all of which offer a variety of luxury homes for sale.

This guide aims to give you an overview of the luxury real estate market in Turkey, highlighting some of the most desirable properties and locations. Whether you are looking for a vacation home or a permanent residence, Turkey has plenty to offer to suit your lifestyle and preferences.

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Buying Luxury property in Turkey

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Luxury real estate in Turkey is witnessing a significant rise, with a focus on exclusive properties in Istanbul and high-end developments across the country. This surge is attributed to various factors ranging from opulence location to lifestyle, blending the best of European and Asian cultures.

One of the key features of luxury properties in Turkey is their spacious living areas, private swimming pools, meticulously landscaped gardens, and breathtaking views. Locations like Bodrum, Kalkan, Kas, Fethiye, and Antalya are known for their luxurious villas and houses.

Istanbul, in particular, stands out as a hotspot for luxury real estate. The city offers prestigious neighbourhoods with proper infrastructure and a robust real estate market. Investing in Istanbul’s real estate comes with its own set of benefits, including in-depth market analysis, key insights, top neighbourhoods, and an understanding of economic factors.

The real estate market in Turkey has been vibrant and ever-evolving, with impressive growth rates in recent years. According to Statista, the luxury real estate market in Turkey is a significant player in the Middle East and Africa region.

In 2020, house sales in Turkey increased by 11.2% compared to the previous year, reaching over 1.4 million. Istanbul, being the largest city, had the highest share of house sales in December 2022, with 17.7%, followed by Ankara.

The residential real estate market in Turkey was valued at USD 89.11 billion in 2023 and is expected to reach USD 151.23 billion by 2028, according to Mordor Intelligence, indicating a robust Compound Annual Growth Rate (CAGR).

Foreign investment in Turkish real estate is significant, with $69.6 billion, equivalent to 27.4% of the total, attributed to real estate transactions involving foreign investors.

The demand for luxury homes in Turkey is not limited to local buyers. International buyers, particularly from the Middle East, Russia, and Europe, have shown a keen interest in the country’s luxury real estate market. This surge in international interest can be attributed to Turkey’s strategic location, stable economy, favourable property laws, and the lure of Turkish citizenship through investment.

FAQs. Turkish real estate Market

Turkish real estate

How much does a luxury property cost on average in Turkey?

The average listing price is around $1,300,000; you could expect to pay anywhere from $492,780 to over $198,220,853. The average price per square meter is approximately $4,377/sqm.

What are the top spots in Turkey for luxurious properties?

The most sought-after areas for luxury properties in Turkey include Istanbul, Antalya, Kalkan, Giresun, Muğla, Bodrum, Mardin, and Fethiye. These locations are popular due to their stunning natural beauty, rich history, and vibrant culture. Istanbul is particularly renowned for its luxury real estate market, offering a mix of modern and traditional properties with breathtaking views of the Bosphorus.

Which regions in Turkey are known for their high cost of living?

The most expensive regions in Turkey, known for their stunning landscapes and rich cultural heritage, are as follows:

  1. Kastamonu: Explore the hidden gem of Kastamonu with its captivating blend of history and natural beauty. Experience the charm of its ancient Ottoman architecture and breathtaking mountains and forests. And guess what? The average property price is only $75,121 per square meter.
  2. Kilis: Discover the cultural richness, delicious local cuisine, and warm hospitality of Kilis. Located near the Syrian border, it offers a unique blend of traditions and a vibrant atmosphere. And guess what? The average property price is an affordable $21,901 per square meter!
  3. Amasya: Experience the enchantment of Amasya, a hidden treasure in the heart of Turkey. Be transported back in time by its beautiful Ottoman-era houses along the Yeşilırmak River. Discover the rich history of this region, all for an average property price of $25,150 per square meter.
  4. Adiyaman: Prepare to be amazed by Adiyaman! Discover its historical sites, including the majestic Mount Nemrut. Immerse yourself in ancient ruins, traditional villages, and stunning landscapes. And the best part? The average property price is just $66,207 per square meter.
  5. Aksaray: Dive into the rich history of Aksaray! This bustling city is home to numerous ancient sites, including the impressive Aksaray Museum. Immerse yourself in artifacts and stories of past civilizations. And the best part? The average property price is just $19,586 per square meter.

What factors determine the price of luxury real estate in Turkey?

Several factors determine the price of luxury real estate in Turkey. These include:

  1. Location: Properties in prime locations such as city centres or coastal areas tend to be more expensive.
  2. Property Size: Larger properties with more bedrooms and bathrooms typically command higher prices.
  3. Amenities: Luxury properties often come with high-end amenities such as private pools, landscaped gardens, fitness centres, and security services, which can increase the price.
  4. Construction Quality: The quality of construction and interior fittings also plays a significant role in determining the price.
  5. Market Conditions: Real estate prices are influenced by market conditions, including supply and demand, interest rates, and economic factors.

What are the anticipated changes for the property market in Turkey in the future?

The Turkish property market has seen significant growth over the last few years. as mentioned above in the article, according to a report by Mordor Intelligence, the residential real estate market in Turkey was estimated at USD 89.11 billion in 2023 and is expected to reach USD 151.23 billion by 2028, growing at a compounded annual growth rate (CAGR).

This growth can be attributed to several factors, including the surge in real estate prices, which rose by over 50% between 2020 and 2023, providing substantial gains for investors. Additionally, there was a remarkable 16.7% year-on-year growth in house sales in July 2023

However, it’s worth noting that predicting the future of the market can be complex. Some professionals in global markets are estimating a downtrend for the housing market. Despite this, demand for real estate in Turkey has been steadily increasing over the past several years.

Experts and economic analysts predict continued growth and prosperity for the real estate market in Turkey for the year 2023. Yet, potential investors should consider that real estate prices in Turkey are unlikely to decrease in the foreseeable future.

Is it a good time to invest in Turkish luxury real estate?

The response to this inquiry can differ depending on prevailing market trends, economic circumstances, and personal financial situations. It is advisable to seek guidance from a real estate expert or financial advisor for tailored recommendations. To receive personalized advice, please contact a professional.

What other costs should I consider when buying a luxury home in Turkey?

When purchasing a luxury home in Turkey, there are several costs you’ll need to budget for in addition to the purchase price:

  1. Agent Commission: Real estate agents in Turkey typically charge a commission fee of 2% of the sales price.
  2. Property Purchase Tax: This is also known as the registration tax. It’s calculated as 4% of the property’s total value.
  3. Registration Fees: These fees cover the cost of transferring the ownership of the property into your name.
  4. Solicitors Fee: This fee covers the legal services provided during the property purchase process. It could be a fixed fee or a percentage of the property’s value.
  5. Residence Permit Fees: If you’re planning to reside in Turkey, you’ll need to apply for a residence permit. The costs involved in this process vary depending on your country of origin.

Can foreigners buy luxury real estate in Turkey?

Foreigners can indeed purchase luxury real estate in Turkey. The Land Registry Law No. 2644, specifically Article 35, has been enacted to facilitate property acquisition for foreign investors in the country. Remarkably, non-Turkish citizens enjoy the freedom to buy multiple properties without any limitations on location or property type.

How does the process of buying a luxury property in Turkey work?

The process of buying a luxury property in Turkey involves several steps:

  1. Determine the Purpose of Purchase: Whether you’re buying for investment, accommodation, or citizenship, it’s important to determine your purpose before starting the procedure.
  2. Research: The first stage of the real estate buying process in Turkey is research. Detailed market research and due diligence are essential for making an informed decision.
  3. Find the Right Agent: It’s crucial to work with a reputable real estate agent who understands the local market and can guide you through the process. You can trust European Property for professional and reliable services.
  4. Property Inspection Trip: After you’ve found potential properties online, consider taking a property inspection trip to see them in person.
  5. Negotiate the Price and Terms of Purchase: Once you’ve found a property you like, negotiate the price and terms of purchase with the seller.
  6. Sign a Sales Contract: The property owner/developer and the buyer sign a “Sales Contract” before a Notary Public in most cases. This is an official document stating all the personal details of the parties, the details of the property, and the agreed-upon price.
  7. Obtain a Tax Number and Open a Bank Account: The property purchase process in Turkey involves obtaining a tax number and opening a bank account in the country.

How can I find luxury homes for sale in Turkey?

Luxury homes in Turkey can be easily found through various online real estate platforms like European Property, as well as specialized local agencies or by seeking assistance from dedicated luxury property real estate agents.

Guide to Turkey

Notable Locations for Luxury Real Estate in Turkey

Istanbul

Cihangir

Cankaya

Bodrum

Zekeriyakoy

Ataturk

Alanya

Fountain

Izmir

Golturkbuku

Gumusluk

Gungoren

Yalikavak

Turgutreis

Kinaliada

Ankara

Antalya

Buyukcekmece

Gokturk

Cengelkoy

Kalkan

Elazig

Giresun

Bursa

Diyarbakir

Balikesir

Adiyaman

Muğla

Canakkale

Sakarya

Gaziantep

Mardin

Aksaray

Erzincan

Nevsehir

Mersin

Intellectual

Kutahya

Corum

Bilecik

Types of Luxury Homes in Turkey

  • Houses
  • Villas
  • Apartments
  • Penthouses
  • Bungalows
  • Townhouses
  • Mansions
  • Farm Ranches
  • Estates

Trends in Turkey’s Luxury House Market

The luxury real estate market in Turkey is constantly evolving, with new trends emerging each year. Here are some notable trends that have been observed in recent years:

The Emergence of Sustainable Luxury Homes in Turkey

One of the most notable trends in the Turkish luxury housing market is the increasing focus on sustainability. High-end developments are being designed with environmentally friendly features, catering to a growing demand for luxury living that doesn’t compromise the health of our planet. This trend resonates with the global movement towards sustainable living, presenting a unique selling point for luxury properties in Turkey.

Seaside Luxury: Turkey’s Coastal Property Boom

Turkey’s seaside towns, particularly those hundreds of miles away from Istanbul, have become hotspots for luxury development. These coastal regions, known for their beautiful warm waters and charming fishing villages, offer an idyllic backdrop for luxurious living. The unique charm and natural beauty of these areas are attracting high-end developments, contributing to Turkey’s coastal property boom.

Foreign Buyer’s

Foreign investment in Turkish real estate has been steadily increasing, with foreigners investing $5 billion in the sector during 2022. The attractive returns offered by the Turkish real estate market, which reportedly saw investment returns skyrocket to 100% over a two-year period, have undoubtedly played a part in drawing foreign buyers.

Historical Touch

One of the unique aspects of Turkey’s luxury real estate market is its blend of modern luxury and historical charm. Many luxury properties in Turkey incorporate elements of the country’s rich history and culture, offering a living experience that is both luxurious and deeply rooted in tradition.

Ancient Cities Transformed into Luxury Residential Resorts

Ancient cities like Bodrum have been transformed into modern luxury hotspots. This trend towards high-end luxury development in historically significant locations offers a unique appeal for prospective buyers, further contributing to the growth of Turkey’s luxury housing market.

Fun Fact: Did you know that Turkey is home to some of the world’s oldest known human settlements? This rich history adds a unique charm to its luxury real estate market, blending ancient architecture with modern luxury.

Luxury Amenities in Turkish Homes

Many luxury properties in Turkey feature private gardens or balconies. These spaces are meticulously designed, often featuring beautiful landscaping and outdoor furniture, providing an ideal setting for relaxation, al fresco dining, or hosting guests. Some homes even have outdoor pools or jacuzzis, offering a personal oasis for homeowners.

Premium Locations

The locations of these luxury homes are another factor that sets them apart. They are often situated in popular areas like Istanbul, Bodrum, Antalya, the Turkish Riviera, Kalkan, Kas, Gocek, and Fethiye. These areas are known for their stunning views, vibrant culture, and proximity to amenities, making them highly desirable.

Variety of Sizes

The size of luxury homes in Turkey can vary greatly, catering to different needs and preferences. From compact yet opulent one-bedroom apartments in the heart of the city to sprawling estates with up to 100 bedrooms, there’s something for everyone.

World-Class Amenities

Luxury homes in places like Istanbul come equipped with a variety of world-class amenities. These can include private fitness centres, allowing residents to maintain their health and wellness without leaving home, spas for relaxation and pampering, and concierge services to handle any requests or needs that may arise.

Other than these amenities, some luxury homes in Turkey also feature private cinemas, game rooms, wine cellars, and even helipads.

Seclusion 

Despite being located in bustling cities, some luxury properties offer secluded gardens, providing a sense of privacy and tranquility. These private spaces are perfect for those who value peace, offering a serene escape from the hustle and bustle of city life.

Unique Architecture

Many luxury homes in Turkey showcase a blend of modern architecture with elements of traditional Turkish design. This fusion creates an aesthetic that is both contemporary and deeply rooted in the country’s rich history.

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