Buying an Apartment in Turkey: Is it a Successful Investment?

With increasing interest in real estate investment in Turkey 2025, many are asking the question "Buying an apartment in Turkey: Is it a successful investment?" given the stable economic growth and diverse real estate opportunities. Turkey is distinguished by its strategic location between Europe and Asia, its dynamic economy, and incentive programs to attract foreign investors.

In this article, we will detail the advantages of buying an apartment in Turkey and the disadvantages of buying an apartment in Turkey, focusing on the return on buying an apartment in Turkey, expected apartment prices in 2025, and practical advice from Mbany Real Estate for a profitable and comfortable buying experience.

Understanding the concept of buying an apartment in Turkey: Is it a successful investment?

Economic and Legal Context

• The Turkish real estate sector experienced an average annual growth of 6.5% between 2018 and 2023, despite local currency fluctuations.
• The Real Estate Ownership Law in Turkey for Foreigners allows foreigners to purchase residential units up to 30% of the total project, with tax exemptions on capital gains when residing for more than five years.

Indicator of Success When Buying an Apartment in Turkey

• The success rate depends on the choice of region, project quality, and investment duration; the average total return (capital + rent) ranges between 8–12% annually in high-end projects.
• Compared to returns in competing European markets, Turkey excels in terms of entry cost and lower real estate fees.

Advantages of Buying an Apartment in Turkey

Strategic Location and Ease of Transportation

• Turkey is located on land and air trade routes between East and West, which enhances demand from international companies and expatriates seeking medium- and long-term housing.
• New projects around Istanbul's Third Airport facilitate transportation and increase the value of buying an apartment in Istanbul as an investment.

Rental Income and Turkish Citizenship

• The tourist rental sector in Antalya and the market launch in Cappadocia offer occupancy rates exceeding 70% during the season.
• The Turkish citizenship program in exchange for purchasing a property worth $400,000 or more increases the value of the investment and adds a key advantage for the buyer.

Disadvantages of Buying an Apartment in Turkey and Potential Risks

Turkish Lira Exchange Rate Fluctuations

• The lira has fallen by about 25% against the dollar between 2022 and 2024, affecting the cost of locally funded projects.
• To avoid losses: Investors are advised to fix part of the funding in hard currencies or rent in dollars/euros.

Administrative Procedures and Changing Legislation

• Registration fees and taxes vary between states; fees may reach 4% of the property value in some areas.
• The need to follow real estate ownership in Turkey for foreigners and new regulations related to amendments to the construction law.

Best Cities to Buy an Apartment in Turkey

Istanbul: The Economic and Cultural Capital

• The average price per square meter reaches $2,700–$3,300 in urban areas (Besiktas, Maslak, Kadikoy).
• Integrated service residential projects and modern designs increase the value of buying an apartment in Turkey.

Antalya, Bursa, and Izmir

• Antalya: A blend of tourist and family real estate, with a summer rental yield of 5–7%.
• Bursa: Prices are 15% lower compared to Istanbul, with a growth opportunity of 10% annually.
• Izmir: An attractive port city for long-term investment, attracting local and international demand.

The Experience of Buying an Apartment in Turkey for Foreigners

Detailed Steps for Real Estate Ownership in Turkey for Foreigners

• Obtaining a Turkish tax number (Vergi No) through the Turkish Tax Office.
• Opening a local bank account to pay installments and receive rent.
• Preliminary agreement (Sitilak): Paying 3–5% down payment and specifying contract terms.
• Examining the land registry and ensuring the property is free of mortgages and debts.
• Officially registering the title deed (Tapu) at the Land Registry Office and handing over the key.

The Role of Mbany Real Estate in Facilitating the Process

• Provides specialized legal and tax advice through a team of lawyers and translators.
• Organizes introductory tours of projects and negotiates with the developer to ensure optimal conditions.
• Follows up on documentation, translation, and registration procedures up to the after-sales and maintenance stage.

Return on Buying an Apartment in Turkey and Apartment Prices in Turkey 2025

Analysis of the Return on Buying an Apartment in Turkey

• The average annual rental yield is 4–6% in gated residential complexes, rising to 8–10% in tourist areas.
• In addition to the expected annual capital appreciation between 6–9% according to semi-official banking indicators.

Apartment Price Forecasts in Turkey 2025

• Central Istanbul: $2,800–$3,500/m², up 12% compared to 2024.
• Secondary cities (Bursa, Izmir): $1,500–$2,200/m² with a growth rate of 8–10%.
• Seaside tourism areas (Antalya, Bodrum): $3,000–$4,200/m² in high-end projects.

Is Buying an Apartment in Turkey Profitable?

Factors Determining Profitability

• Location: Proximity to public transportation, educational and medical facilities.
• Finishing quality and developer experience: Companies known for completing projects on time (such as Mbany Real Estate).
• Type of investment: Long-term rental versus short-term (tourist) rental.

Tips for Investing in Turkish Apartments Successfully

• Diversify the investment portfolio among several projects and cities.
• Choose ready-to-deliver units to avoid construction delays.
• Rely on independent consultants to inspect the property and evaluation reports.

Frequently Asked Questions About Buying an Apartment in Turkey: Is It a Successful Investment?

Is buying an apartment in Turkey a successful investment?

Yes, if the location is carefully chosen and the services of Mbany Real Estate are used, capital growth rates ranging between 6–9% per year and rental yields of up to 10% can be achieved.

What is the cost of opening a tax file and completing real estate ownership in Turkey for foreigners?

The costs of obtaining a tax number are low (about $20) and registration fees reach 3–4% of the property value, in addition to translation and documentation fees.

How can the rental yield be improved when buying an apartment in Turkey?

Choose units in full-service complexes, rent furnished, and register the property on short-term rental platforms to increase occupancy rates.

What are the best cities to buy an apartment in Turkey for foreigners?

Istanbul for growth opportunities and continuous demand, Antalya for tourist rentals, and Bursa and Izmir for long-term investment at a lower cost.

Can an investor obtain Turkish citizenship by purchasing a property?

Yes, by buying an apartment in Turkey worth at least $400,000 under the Citizenship by Investment Program, with the possibility of extending the lease and disposing of it under easy terms.

Conclusion: Buying an Apartment in Turkey: Is It a Successful Investment?

In conclusion to this guide on Buying an Apartment in Turkey: Is it a Successful Investment? We emphasize that real estate ownership in Turkey for foreigners offers diverse opportunities for capital and rental returns, especially when investing in the best cities to buy an apartment in Turkey such as Istanbul and Antalya.

It is important to balance the advantages of buying an apartment in Turkey and the disadvantages of buying an apartment in Turkey, and to rely on trusted partners such as Mbany Real Estate to ensure the process runs smoothly and to achieve is buying an apartment in Turkey profitable? Your investment goals carefully and knowledgeably.