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Cheapest Apartments in Europ and The world 2024
The main topics
- Why is Turkey one of the cheapest real estate in the world?
- Why is Turkey one of the cheapest real estate in Europe?
- Is the price the only factor to determine the cheapness of the property?
- Are Turkish properties of high quality compared to the price?
- Why do foreigners buy properties in Turkey?
- Is real estate investment in Turkey worthwhile?
- Some cheap projects to buy in Turkey
- Some distinctive real estate offers
Why is Turkey considered one of the cheapest real estate in the world?
Real estate prices in Turkey are relatively cheap by global standards due to a number of factors that have made it an attractive destination for investors around the world.
The rapid development in the construction sector has led to an increase in the supply of real estate in the major cities in Turkey, especially in places such as Istanbul, Ankara, and Izmir. This affected the balance of supply and demand, leading to lower prices.
In addition, Turkey’s historical, cultural, and natural wealth and its strategic location make it attractive for real estate investors. These factors have stimulated the real estate market in Turkey while maintaining reasonable levels of prices.
And the prices in Turkey are still low compared to many foreign currencies due to the high exchange rates. This situation provides attractive opportunities for foreign investors, especially in areas such as real estate, consumer products, and services. The low prices allow foreigners to buy assets and services in Turkey at a cheaper price than their own currency. The high exchange rates allow foreigners to have greater purchasing power with the Turkish lira.
Why is Turkey considered one of the cheapest real estate in Europe?
The most important thing that governs the real estate market in Turkey is the laws of supply and demand. Especially in the major cities, where the government’s encouraging policies and facilities on real estate loans have increased the demand for creating projects and thus increasing the supply of real estate. This led to lower prices. On the other hand, the supply of real estate in Europe is still lower in general, causing higher prices.
Also, the low cost of labor in Turkey compared to the European countries was a factor in lowering the cost of construction and thus reflected on the level of real estate prices and their decline.
Analysts believe that income levels also have an impact on real estate prices. The cost of living in Turkey is generally lower than it is in most European countries. This contributes to lower real estate prices.
. While the average income in Europe is higher in general than in Turkey. This makes buying homes more expensive, which in turn leads to higher real estate prices in Europe.
These factors may help explain why real estate prices in Turkey are lower than in other countries in Europe. However, real estate prices depend on many other factors that may change over time.
Is price the only factor to determine the cheapness of real estate?
When buying a property, do not be fooled by the low price and make a hasty decision. There are many factors that determine the cheapness of real estate.
The price is not the only factor that determines the cheapness of real estate. While the price is an important factor in determining the value of the property, there are many other factors that also determine the real value of the property and thus the cheapness of its price. The most important of these is the location. Often, the value of the property near the city center is more than the value of the property outside the city. The presence of the property in an area that lacks any type of public transportation or services makes its price cheaper. But there is no point in investing far from the services that people need, such as schools and health centers.
The physical condition of the property is also an important factor that determines its value. Often, the value of the new or well-maintained property is more than the value of the old or neglected property.
The general condition of the real estate market also affects the value of the property. Market conditions change according to the balance of supply and demand. During periods of high demand, real estate prices often rise.
Future development plans in the area where the property is located can also affect the value of the property. For example, a large project such as a new shopping center or a subway line can increase the value of the properties in the area. The surroundings of the projects and urban development areas will make a qualitative leap for your investment.
As a result, when determining the cheapness of the property, it is important not to take into account the price only, but also factors such as the location, the condition of the property, the market conditions, and the future development plans. All these factors determine the real value of the property and thus the cheapness of its price. Therefore, when buying or renting a property, it is important to consider all these factors, which will give you a broader perspective in determining the real value of the property.
Are Turkish real estate of high quality compared to the price?
It may be difficult to issue a final judgment on the quality and price of real estate in Turkey because it often depends on the location, size, age, features, and materials of the property. However, there are some general trends and observations.
Turkey has real estate that is no less quality and luxury for its residents than European real estate. It offers many integrated services and enjoys the highest quality standards to enter the global competition. Today, the best materials and the latest engineering designs are used.
All this, along with the legislation and standards imposed by Turkey on contractors to comply with when establishing their investment projects, such as guaranteeing the durability of the construction and its compliance with earthquake-resistant construction standards and other controls that have contributed to increasing confidence in the quality of Turkish real estate.
Real estate investment can be attractive for many investors because it provides an increase in value, rental income, and opportunities to diversify the portfolio. However, real estate investment also has its challenges. Some factors also affect the final value of the investment, such as the need to do maintenance work. This is an additional point that distinguishes Turkey from European countries due to the low prices of materials and labor wages, which preserves the high returns of the investment, especially when renting it.
And when comparing the price of a property in a European country with a property in Turkey that have the same specifications, Turkey excels in terms of lower prices compared to its counterparts in European countries, taking into account the importance of the city as Istanbul and the state of its booming real estate market.
Turkey also includes many projects guaranteed by the Turkish government that compete in quality and luxury for the highest levels and are impressive with the beauty of their designs and offer the investor an opportunity not to be missed at competitive prices.
Why do foreigners buy real estate in Turkey?
Turkey offers high living standards and high-quality services compared to the relatively low cost of living compared to European countries. Turkey is distinguished by its development in its health and education sectors and its possession of the latest health care and educational opportunities, in addition to the strength and modernity of its infrastructure.
Turkey provides various job opportunities annually to attract more foreigners and workers to its lands.
The geographical location of Turkey forms a bridge between Europe and Asia. This provides a strategic advantage for foreign investors and businessmen who want to expand their businesses around the world. In addition, the beautiful beaches, historical sites, and cultural wealth in Turkey create an additional attraction factor for property buyers.
The Turkish economy has proven to the world its remarkable growth over the past decade. This created an attractive opportunity for foreign investors.
The properties in Turkey are reasonably priced compared to other European countries, which increases the possibility of investors achieving more profits.
The Turkish government offers various incentives to attract foreign investors. These incentives include low tax rates, a fast citizenship program, and laws that facilitate the purchase of real estate, while taxes in Europe are still high on real estate investments and completing the purchase processes requires following complex procedures, while the sale and purchase procedures in Turkey do not carry much complexity and do not require much time and effort.
The climate in Turkey is more moderate than the climate in Europe in general, which helped the vitality of its tourism market and made living in it an ideal choice compared to European countries.
Is real estate investment in Turkey worthwhile?
Turkey enjoys a strong and distinguished economy. Despite all the crises that the Turkish economy has gone through, it has been able to achieve huge leaps in growth and maintain its position among the countries of the world. This was helped by the unique geographical location of Turkey and its throne on the throne of two continents of the world, in addition to its proximity to the Arab world, and its dominant position on the most important seas of the world, which prompted many investors to choose Turkey as their target.
The importance that the Turkish government has given and allocated large amounts of money to invest in developing the infrastructure and huge development projects has made Turkey one of the most fertile environments for real estate investment and created an atmosphere of competition among contracting companies to establish their real estate projects on its lands and take advantage of the opportunities offered by its real estate sector, which proved its strength by achieving abundant profits and high returns for investors.
Turkey has a wide base of young age groups and labor force and is famous for its universities that attract hundreds of students annually, which creates various investment opportunities for property owners.
The prices of real estate in Turkey are cheap and suitable for many budgets around the world, and at the same time its properties enjoy the highest quality and luxury standards and compete with the highest international standards in their designs.
We should not forget the importance of the facilities that the Turkish government has provided to encourage investment and reduce taxes or even exempt from paying them in certain cases and other stimulating procedures. As the owner of your residential property on Turkish land, you enjoy all your rights as any Turkish citizen by applying for a real estate residence permit. Or even obtaining Turkish citizenship within certain conditions. While the conditions for obtaining residence in a European country are not easy to obtain except for the wealthy class due to the difficult conditions and high value and difficulty of collecting residence procedures.
All this and more proved the importance and feasibility of real estate investment over the past years in a historic city like Turkey and was clear through the successful experiences of investors and the increasing demand of more capital owners for its real estate continuously.
Some cheap projects to buy in Turkey
Turkey has many new areas that attract a lot of contractors to establish investment projects in them. These projects are luxurious and modern and offer many options today, in addition to having an integrated infrastructure and relatively low prices compared to other areas in the city. The following project is located in one of these areas.
Istanbul 210 Complex:
- The project is located in the Beylikduzu area, which is one of the most dynamic and attractive areas of Istanbul. It has many services and facilities, such as shopping malls, hospitals, schools, and public transportation. The area is also witnessing a rapid urban development and a high demand for real estate, which makes it a great investment opportunity.
- The project offers stunning sea views of the Marmara Sea from all residential units. You can enjoy the beauty of nature and the fresh breeze from your balcony or terrace.
- The project consists of 6 buildings with a total of 48 apartments. The apartments are spacious and elegant, with different types and sizes to suit your needs and preferences. You can choose from 1+4 to 2+5.5 apartments, with areas ranging from 250 to 397 square meters.
- The project is under construction and will be delivered in 12 months. You can benefit from the installment payment method, which allows you to pay 50% of the price as a down payment and the rest in 12 monthly installments.
- The project is 35 km away from the city center and 30 km away from the airport, which makes it easy to access and convenient to travel.
If you are interested in buying or renting an apartment in the Istanbul 210 Complex, you can contact us through our website or phone number. We will be happy to assist you and provide you with more details and information.
Some distinctive real estate offers
It is important when choosing projects that the project you want to invest in has a location that will achieve a qualitative leap that affects the increase in its prices and the achievement of profitable returns for its property owners. This is one of the distinctive projects with its reasonable prices compared to the rest of the projects that have the same specifications. In addition to its location, which makes it one of the projects that have a promising future in achieving high investment returns.
Istanbul 114 Complex:- The project is located in the Buyukcekmece area, which is a beautiful and lively area of Istanbul. It has many amenities and attractions, such as shopping malls, parks, cafes, and restaurants. The area is also known for its historical and cultural heritage, such as the Buyukcekmece Bridge and the Kanuni Sultan Suleyman Caravanserai.
- The project offers three stunning views of the Marmara Sea, Buyukcekmece Lake, and the charming city of Istanbul. You can enjoy the beauty of nature and the cityscape from your apartment. The project is also close to one of the few beaches suitable for swimming in Istanbul, where you can relax and have fun.
- The project consists of 4 buildings with a total of 253 apartments. The apartments are spacious and elegant, with different types and sizes to suit your needs and preferences. You can choose from 1+1 to 1+4 apartments, with areas ranging from 72 to 215 square meters.
- The project is under construction and will be delivered in 2025. You can benefit from the installment payment method, which allows you to pay 50% of the price as a down payment and the rest in 24 monthly installments.
- The project is 35 km away from the city center and 25 km away from the airport, which makes it easy to access and convenient to travel.
If you are interested in buying or renting an apartment in the Istanbul 114 Complex, you can contact us through our website or phone number. We will be happy to assist you and provide you with more details and information.
You can always check our projects through the website of Damas Group Real Estate Company or contact one of our sales representatives.
Our team is always ready to answer your inquiries and we are happy to share with you our long experience in the world of real estate.
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Keys to finding related properties:
- Apartments for sale in Istanbul
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In the competitive real estate market, Damas Group Real Estate aims for excellence by offering the latest information and news about the Turkish real estate market. Our specialized marketing team is always ready to respond to your inquiries and answer all your questions. Our sales representatives are qualified and receive ongoing training to maintain top-notch work quality.
At Damas Group Real Estate, we have a diverse real estate portfolio that meets all your investment aspirations. We offer you our various options and aim to connect you with developers with whom we have strong relationships. We help you with all procedures, and even after you buy a property, we offer crafted investment plans to maximize returns through resale.. Contact us to learn more.
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FAQ
The real estate prices in Turkey are relatively low by global standards due to several factors such as rapid development in the construction sector, Turkey's rich historical and cultural heritage, its natural beauty, and favorable exchange rates.
Key factors governing the real estate market in Turkey include the abundance of property offerings, relatively lower labor costs compared to European countries, and generally lower income levels compared to Europe.
Government incentive policies and facilitations for real estate loans lead to an increased interest in initiating projects, consequently increasing the supply of properties, which leads to a decrease in prices.
The cost of living in Turkey is generally lower than in most European countries, contributing to lower real estate prices. While the average income in Europe is generally higher than in Turkey, making home purchases more costly, this, in turn, leads to higher real estate prices in Europe.
No, the price is not the only factor that determines the value of the property. There are other factors such as location, property condition, market conditions, and future development plans.
Turkey possesses properties with globally competitive high-quality standards, featuring numerous projects guaranteed by the Turkish government for their quality and competitive prices. This is complemented by legislation and standards imposed by Turkey on contractors, ensuring the durability of construction and compliance with earthquake-resistant building standards, among other regulations that have contributed to increasing confidence in the quality of Turkish properties.
When comparing the price of a property in a European country with similar specifications to a property in Turkey, Turkey excels in terms of lower prices compared to its European counterparts.
Foreigners buy properties in Turkey for various reasons, including high quality, geographical location, reasonable prices, and incentives.
Yes, real estate investment in Turkey is lucrative due to its strong economy, reasonable prices, unique geographical location, and the importance the Turkish government places on infrastructure development and large-scale projects. Property prices in Turkey cater to various budgets worldwide and offer high-quality options. Finally, the Turkish government provides multiple incentives to encourage real estate investment.
The Turkish government provides incentives such as low tax rates, fast-track citizenship programs, and the opportunity to obtain residency and citizenship through property investment, subject to certain conditions.
