Author: Luxury Estate Turkey
Viewed 392 times
31 August 2025
The cost of real estate in Turkey depends on the region, the type of housing, and other additional factors. Nevertheless, compared with most European countries and the United States, housing in Turkey remains affordable.
The country offers a wide selection of locations — from the dynamic business hub of Istanbul to resort cities such as Alanya or Fethiye — meeting the needs of very different categories of buyers. In this guide, we will examine the costs of real estate in Turkey, additional expenses, and the advantages of property ownership, from a residence permit to citizenship.
The Turkish property market is regarded as one of the most advantageous for investors thanks to its relatively low entry threshold and steady prospects for growth. Even elite residences designed for affluent buyers remain noticeably more affordable here than in the EU, while the quality of construction and comfort of living fully correspond to the expectations of a demanding audience.
Demand is driven not only by prices. Property in Turkey generates stable rental income: in large cities, rental demand is year-round, while on the coast, it rises sharply during summer due to tourism. Additional benefits are also significant for investors: purchasing property grants the right to a residence permit, and investments starting from $400,000 open the way to Turkish citizenship. At the same time, property taxes and utility bills remain moderate, especially when compared with Western Europe.
An investor can select a strategy depending on their goals: renting out, using the property for personal living, or reselling later at a higher price.
Istanbul, the largest city in Turkey, naturally remains the country’s most expensive real estate market. The average apartment costs about $138,000 with an area of 115 m² — approximately $1,200 per square meter. However, the real picture depends greatly on the district. In prestigious locations, Istanbul property prices are significantly higher: modern 2+1 apartments in Kadıköy on the Asian side cost around $320,000, while on the European Bosphorus shore in Sarıyer, the average price for a similar apartment reaches $366,000.
The villa market in Istanbul is a niche premium segment. A villa with a pool, garden, and Bosphorus view rarely costs less than $1 million, and such properties are primarily in demand among wealthy buyers. At the same time, in the suburbs, there are more accessible options: in areas of active new development such as Beylikdüzü or Başakşehir, prices for townhouses and detached houses start from $300,000–350,000.
Antalya, the capital of Turkey’s Mediterranean coast, is considered a compromise market in terms of price and quality. The average apartment in Antalya costs around $120,000 for about 115 m², approximately $1,050 per m². In premium locations — beachfront or in new luxury projects — the cost reaches several hundred thousand euros, but overall Antalya remains much more affordable than Istanbul.
The villa segment is found mainly in suburban resorts — Belek, Kemer, Side. The minimum price for a detached house in a resort zone starts from $200,000, and this is the baseline for Antalya properties in good condition and a favorable location.
Alanya, located in the eastern part of Antalya province, is known for having some of the most affordable prices on the coast, while maintaining a high quality of life. The average price of an apartment is around $162,000 for ~110 m² (about $1,475 per m²). But this is also where budget options exist: a small 1+1 apartment on the outskirts in a basic building may cost about €50,000. With a budget of €80,000, buyers can already find modern properties in Alanya, such as apartments in complexes with a pool, garden, and security, and for €100,000–120,000 it is possible to purchase duplexes or penthouses in new projects with resort-style amenities.
The villas in Alanya also remains more affordable than in Antalya or Istanbul. A detached house with land and a pool can be purchased starting from $400,000, while luxury villas with panoramic sea views are priced at $500,000 and above.
The price variation for apartments of similar size and layout in Turkey can be significant. The reason lies not only in the city but also in the characteristics of the specific property. A whole range of factors influences cost.
Location and view: Location remains the main factor in pricing. The closer the property is to the sea, city center, or a prestigious neighborhood, the higher the price. In resort areas, walking distance to the beach and a panoramic view add substantial value.
Floor and orientation: In coastal regions, apartments on mid and upper floors are valued more highly, especially those with balconies offering panoramic views. A view of the sea or mountains greatly increases both liquidity and price. Southern orientation also adds value — apartments with maximum sunlight are in demand.
Amenities: Residences with amenities sell for more than those without. Many new developments in Turkey resemble small resorts with spa facilities — these options increase both the purchase price and monthly fees (aidat).
Class of construction and finishing: New builds in business- and premium-class with modern layouts, designer interiors, and energy-saving technologies cost 50–100% more than standard properties. Use of marble, natural wood, and smart home systems forms a premium price. Furnishing is an additional factor — especially important for investors targeting the rental market.
Construction stage: At the excavation stage, developers offer discounts to attract capital. As construction progresses, prices rise, reaching their maximum at completion.
Area potential: The future environment also affects price. Planned roads, shopping malls, metro lines, or airports increase the growth potential.
After selecting a property and agreeing on the price, it is also important to budget for additional expenses that accompany the purchase.
This is the main tax when registering a property purchase in Turkey. The rate is fixed at 4% of the cadastral value of the property. By law, the tax is divided equally between buyer and seller — 2% each. In practice, however, almost always the buyer pays the entire amount: sellers simply include their part in the final price.
The tax must be paid before the transaction is registered in the Land Registry — without payment of Tapu Harcı you will not receive the title deed. Payment can be made at the local tax office, through a bank, or at the post office. For example, for a property worth $100,000, the tax will be $4,000.
By international comparison, Turkey’s tax rate is moderate. For example, in France, total costs at purchase are about 7%; in Spain, about 10%.
This tax is charged only when buying property directly from the developer. For secondary housing, VAT is not applied. The rate depends on the property’s characteristics and ranges from 1% to 18%. Typically, economy-class apartments up to 150 m² are taxed at 1%, while larger apartments, villas, and commercial real estate are taxed at 18%.
In practice, foreign buyers rarely deal with VAT as a separate expense. In the sales price announced by the developer, VAT is usually already included. The developer transfers it to the state. Moreover, there is a benefit: if a foreigner pays in foreign currency and is not a Turkish tax resident, they may be completely exempt from VAT. In this case, the contract price is indicated as “net,” without added value. Such details are processed through the developer.
The services of a lawyer in Turkey are not mandatory when purchasing property. A lawyer checks the “cleanliness” of the property: availability of all construction permits, absence of encumbrances, debts on taxes or utilities, and correctness of ownership rights. He also analyzes the contract, explains legal nuances (what exactly is being purchased — full ownership, a share, or a land plot), and if necessary, represents the client’s interests when the buyer does not speak Turkish.
The cost of legal services is about 1% of the property price. Sometimes a fixed fee is agreed, but the benchmark remains the same: for an apartment costing $150,000, a lawyer’s fee is about $1,500. In premium-class agencies, including ours, basic legal checks and contract preparation are included in the service and are not paid separately. However, if a client wants to involve an independent attorney, especially an English-speaking one, this expense should be taken into account.
Notarial and translation expenses are mandatory for foreigners who do not speak Turkish. By law, at the time of signing the purchase agreement in the Land Registry, a licensed sworn translator must be present. His task is to confirm that the buyer understands the terms of the transaction. The cost of this service is about 1,500 TL.
Additionally, a notarized translation of the foreign passport into Turkish is required. The cost is approximately 1,000 TL per document. If several family members are listed as owners, translation is required for each, and expenses increase accordingly.
Another case is issuing a power of attorney for a lawyer or representative if you want to complete the transaction without personal presence. Notarization of such a power of attorney costs from 6,500 TL and more, depending on the scope of authority. If you personally attend the transaction, a translation and notarization of the passport are sufficient.
In total, for notary and translation services, you should budget $300–500. These expenses cover document translation, notarization, and the translator’s presence on the day of the transaction.
An independent property valuation is mandatory when applying for Turkish citizenship by investment. A licensed SPK expert visits the property, checks its characteristics, and prepares a report on its market value. Without this document, the citizenship application will not be accepted.
The cost of the service is relatively low, within $100–200. The price depends on the city, the size of the property, and urgency: if the report is required on the same day, the cost will be higher, while standard completion in 2–3 days is closer to the lower limit.
DASK is mandatory insurance in Turkey that covers damage from natural disasters, primarily earthquakes. A DASK policy is required to connect utilities and register the property in your name. It covers the consequences of earthquakes, such as building collapse, as well as fires and other disasters caused by natural events. The policy must be renewed annually.
The cost of DASK is quite modest and depends on the size of the property, averaging from 295 to 1,145 TL per year. For a standard apartment of about 100 m², the insurance premium will be closer to the lower end. The policy can be arranged with any insurance company or bank in just one day.
DASK is a minimal mandatory insurance, covering only a limited sum of damages. Owners can additionally insure their property against other risks such as theft, fire, or liability.
If you are buying a new apartment that has not yet been connected to utilities, you will need to pay to open new subscriber accounts. In Antalya and Alanya, connecting electricity and water for a new property costs around 6,000–7,000 TL. This includes meter deposits and initial connection fees. For secondary real estate where utilities are already connected, it is enough to re-register the accounts, which is cheaper — about 3,000–4,000 TL.
The Internet is connected separately, and the cost depends on the chosen tariff — usually $10–20 per month plus a one-time connection fee of about $20–30.
All property owners in Turkey, including foreign citizens, must pay an annual municipal property tax. The tax rate depends on the cadastral value of the property and its type. For residential property, the basic rate is 0.1% of cadastral value in small towns and 0.2% in large cities and municipalities.
For example, if your apartment in Alanya has a cadastral valuation of $100,000, the annual tax will be $200, since Alanya belongs to a large municipality (Antalya).
The tax can be paid either once a year or divided into two equal parts and paid twice within the year, depending on the owner’s preference.
Since 2020, Turkey has introduced an additional tax on luxury real estate (Değerli Konut Vergisi), which applies only to properties with a cadastral value exceeding the established threshold. In 2025, this threshold is about 5.23 million TL, equivalent to around $280,000. If the cadastral valuation of your villa or apartment exceeds $280,000, a progressive tax of 0.3% to 1% is levied on the amount exceeding the threshold, depending on the property’s value.
The calculation is tiered: the more expensive the property, the higher the tax rate applied to the excess amount. For example:
If the property value exceeds $280,000 by $300,000, the tax is 0.3% of this amount.
If the excess is more than $600,000, the rate rises to 0.6%.
For properties valued above $1.3 million, the rate may reach 1%.
Purchasing real estate in Turkey is also advantageous from the perspective of immigration opportunities. The state encourages foreign investors by granting them the right to a residence permit (ikamet), and, for larger investments, Turkish citizenship.
Owning property in Turkey provides the right to apply for a short-term residence permit (ikamet) based on ownership. The residence permit in Turkey is usually issued for 1 year (sometimes 2) and can be renewed indefinitely as long as the property remains in your possession.
The minimum cadastral value of the property must be $200,000 or higher. The property must be residential (apartment or villa) and located in a district where residence permits are still being issued (in some overpopulated districts, authorities have suspended new residence permits).
A residence permit through real estate offers many advantages: you can connect to long-term internet and mobile contracts, purchase a car with Turkish license plates, register a business, and enroll children in school. In practice, you obtain nearly all the rights of a resident, except for political rights.
Obtaining Turkish citizenship through real estate investment is an ambitious and attractive goal for many buyers. A Turkish passport offers visa-free or simplified entry to more than 120 countries, provides the right to conduct business in Turkey, and serves as a reliable “plan B” for citizens of CIS countries.
The program’s conditions are straightforward: you must purchase one or more properties totaling at least $400,000 and hold them for a minimum of 3 years.
To obtain citizenship, it is sufficient to confirm the investment amount through a valuation report and proof of funds transfer from abroad. After purchasing the property, you can immediately apply for citizenship. The process usually takes between 6 and 8 months.
A major advantage is that family members can be included in the application — a spouse and children under 18 may receive citizenship together with the investor. Turkey recognizes dual citizenship, so you do not have to renounce your original passport. Turkish citizenship is granted for life with full rights. Children born after citizenship is obtained automatically become Turkish citizens.
Luxury Estate Turkey takes pride in its reputation and long-term relationships with clients. We are licensed and members of professional associations, and our employees continuously improve their qualifications. We are always open with clients and strive to build long-term relationships rather than one-off deals. That is why our approach is always oriented toward honesty and transparency, with maximum benefit for the client.
Our specialists always prepare a detailed financial plan for the transaction. You will be informed in advance about all possible taxes and fees, allowing you to plan your budget precisely without unexpected costs. All commissions and service fees are openly discussed to avoid hidden percentages or sudden payments “for acceleration.” With us, you receive a clear understanding of the final amount and know exactly what it consists of.
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