Apartments Prices in Turkey
Article Summary
A study that monitors a wide range of apartment prices in Turkey within several Turkish cities,
such as apartment prices in Istanbul, apartment prices in Trabzon, factors of rising and falling
real estate prices in Turkey and comparing them with their counterparts in international
apartment prices to provide useful information to Arab investors.
Introduction to the Turkish Economy
• The Turkish economy has achieved record leaps in the past few years. Turkey's economy has
been the largest Islamic economy, Turkey's apartment prices have risen in 2016 and Turkey's
apartment prices 2017 have spawned unprecedented price spikes.
• Turkey is an active member of the G20, the world's most powerful economy.
• Turkey's GDP for the year 2017 was about 851 billion dollars.
• The value of foreign investments in Turkey in 2017 amounted to 10.9 billion dollars.
• The number of foreign companies in Turkey for the year 2017 about 58 thousand companies.
These great achievements have been achieved through national self-sufficiency, which Turkey
has been able to reach before joining the European Union.
• The geographical position of Turkey between Europe and Asia is a strong factor in addition to
the preferred market and geographic factors of Arab investors.
• For all these reasons, the price of apartments in Turkey has achieved unprecedented growth
as a real investment and development real estate tool due to high demand, preferably by
Turkish and expatriate investors, especially from the Gulf countries.
• Despite all this, the price of apartments in Turkey for sale is still below the real value, which
makes experts and specialists expect the price of apartments in Turkey to reach new record
levels; focusing on apartments in projects that are still under construction, where it is expected
to make excellent profits immediately after delivery or a few years later.
The Price of Apartments in Turkey after the Law of Foreign Ownership
• After the Turkish Foreign Ownership Act was passed in 2012, property prices in Turkey rose
rapidly, with most Arab nationalities having the right to own real estate, especially apartments
in Turkey.
• Real estate is expected to increase the price of apartments in Turkey under the new legislation
from 60% to 90% over the next five years.
• Under the law of 2012 the Turkish government approved more modern legislation more
flexible, which opened the door to the citizens of more than 129 different countries around the
world to enter the Turkish real estate market.