Property Prices in Izmir, Turkey

Property Prices in Izmir, Turkey

Prices for real estate in Izmir start at € 800 per square meter. Housing in elite coastal areas is much more expensive. This city is not inferior to Istanbul in terms of quality of life, but there are fewer tourists.

properties in Izmir
Buying a property in Izmir is considered a good investment.

PROS OF BUYING A HOME IN IZMIR

There is a population of over 3 million people. It is the third-largest city in Turkey.

Real estate here is chosen primarily by those who are looking for an apartment or house for themselves.

The second purpose of such purchases is long-term renting to people who want to move to Turkey, but do not yet have the opportunity to acquire a property. Tourists are in demand only a few selected areas.

The main advantages of this city are:

  1. Climate. There is virtually no rainfall in the summer months, and the temperature rises to + 28-30 ° C during the day. In winter, rains and snowfalls occur, but frosts are rare, and the average temperature is + 5-6 ° C.
  2. Educational opportunities for children. The city has five universities, many schools and kindergartens.
  3. Good transport infrastructure. In addition to buses, in Izmir, there are two tram lines, a subway, and electric trains. There is a ferry and rail service which lead to the international airport.
  4. Low housing prices compared to other countries with access to the Aegean Sea. For example, in Spain and Greece, apartments are 2-3 times more expensive.
  5. Just 40 km from the city, there is an elite spa resort called Cesme, where not only tourists but also many people living in Turkey like to relax.
  6. Continuously growing demand for real estate. Over the past five years, housing prices in Izmir have increased by 90%, while the national average is 50%.
Izmir's Infrastructure
Izmir is one of the most beautiful and ancient cities in Turkey.

Residents say that the main advantage its calm atmosphere compared to the capital and Istanbul. At the same time, the level of service and infrastructure is just as good compared to Istanbul.

Life in Izmir is cheap compared to Foreign megacities. For example, when translated from the local currency, the average price of bread is 2. cents, and a litre of milk is 45 cents. The salary level in the city is lower than in Istanbul. Depending on the profession, you can get $ 1-2 thousand per month.

Izmir has developed not only tourism but also agriculture and such industries as:

  • Textile
  • Production of building materials
  • Culinary arts

In addition, Izmir is the second largest port in the country after Istanbul. Therefore, business activity here is year-round.

It is not seasonal, as in cities that live solely on tourism.

WHAT REAL ESTATE CAN BE PURCHASED

The real estate market in Izmir has a large selection of apartments and apartments. Our company will help you find offers for the sale of housing both in old houses and in those under construction. Any layouts are available - from "1 + 1" to "5 + 1". Near residential complexes, there are undergrounds, swimming pools and fitness clubs, which can only be used by residents. Many of the management companies offer increased security: a video surveillance system is operating, and a concierge is located at the entrance to the entrance.

Izmir apartments
The Izmir real estate market has a large selection of apartments.

For those who prefer privacy, our agency offers to buy a detached house. The minimum size of such an object has 100 m2 and two bedrooms. The most spacious options include villas up to 3 floors, an area of ​​650m2. On the land adjacent to the cottages in Izmir, there are gardens, as well as swimming pools, barbecue facilities, children's slides and sandboxes.

POPULAR AREAS OF THE CITY FOR BUYING REAL ESTATE

Izmir is a large city with a well-developed infrastructure. In each area, there are markets, many small shops.

The top 5 shopping centres include:

  • Arkas Art Center
  • Palmiye shopping centre
  • Forum Bornova
  • Optimum Outlet and amusement centre
  • Agora shopping centre
Optimum
Izmir is famous for its colourful shopping centres.

Sports enthusiasts most often spend their days off at Olof Palm Park. There you can find tennis courts, basketball courts, bike paths, etc. Numerous competitions are held at the Halkapinar Arena.

Those interested in cultural life, Izmir offers:

  • 20 art galleries
  • Six museums
  • Architectural sights
  • Three theatres

Izmir has an excellent English-speaking population as it does in Alanya and Antalya. Also, the Society for the Study of the Russian Language and Culture named after A.I. Solzhenitsyn is located here. Work is conducted with children from 3 years. The metro station closest to the centre is Goztepe.

Kindergarten
Izmir has foreign-language schools.

These are:

  • Kindergartens
  • Theatre clubs
  • Dance and vocal studios.

The largest clinic in the city is Kent Hospital. Its territory occupies 30 thousand square meters. There are also dozens of public and private hospitals.

Choosing a real estate depends primarily on the purpose of the acquisition. The most attractive investment is Karsiyaka which is located 11 km from the city centre. The easiest way to get there is by ferry. Karsiyaka's population is about 400 thousand people, which most are foreigners and famous for the basketball club. Well-developed infrastructure: a large selection of shops, cafes, there are parks and museums.

park
In the Bayrakli area is a picturesque national park.

ayrakli is a new located right behind Karsiyaka. Despite this, the infrastructure is already well developed and contains many shops and offices.

Locals can relax in the park and open-air museum. The street traffic is busy.

Bornova is another area remote from the sea.

Here, you can find:

  • One of the largest stores in the city
  • Intercity Bus Station
  • A large park where concerts are often held.

Another important facility is the exhibition centre. The cultural life in this area is the richest.

The central district of Izmir is considered Konak, real estate here is one of the most expensive in the city. Here you can find many tourists on the streets, as this is where the old city and all the attractions are concentrated here. Because of this, there are many cafes, restaurants, also a street of artists.

Cafe
Izmir has a lot of fast-food cafes.

The cheapest accommodation in Izmir can be found in Buca. It is unremarkable for vacationers, so here are the quietest streets. You can call this zone a sleeping area.

Karabaglar is as old as Konak. However, the infrastructure is worse developed, and the old low-rise buildings prevail.

Balcova is another area demanded by tourists. Because of this, rental income is very high as tourists like to live in a rented apartment. Also, you can find thermal springs and cable car attract guests.

THE AVERAGE COST AND FACTORS INFLUENCING THE PRICE OF THE OBJECT

The cost of apartments on the Izmir real estate market consists of the following factors:

  • Proximity to the sea
  • Age of construction
  • The infrastructure of the complex in which the property is located.
  • The presence of furniture, heating systems and other amenities.
 

Our agency offers all the layout options:

  1. Small apartment "1 + 1" with an area of ​​60-70 sqm. The average price is € 40-45 thousand.
  2. Option "2 + 1" up to 90 sqm on average costs € 60 thousand.
  3. Large apartments with 3 and 4 bedrooms and a total area of ​​over 100 sqm can be bought for € 75-80 thousand.

Real estate in luxury residential complexes there are spas and tennis courts which will cost from € 120 thousand. Planning price "3 + 1" will reach € 300 thousand.

If the house is located on the seafront, then the apartments in it are much more expensive: from € 150 thousand for a studio apartment. Economy class housing is in the distance.

Izmir also has a large selection of cottages and townhouses located on the territory of residential complexes, and detached villas. The average cost per square meter in such houses is € 1.300-1.500.

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