For years, Istanbul and the entire Mediterranean province, particularly Antalya, have consistently ranked as the top choices for new home buyers in Türkiye. Coastal real estate in Türkiye not only captures the interest of Turkish citizens but also attracts foreign investors, especially from the former CIS countries, Britain, and Germany. However, the rapid influx of migration in recent years has led to significant jumps in prices.
Nevertheless, Antalya remains a promising option with a significant number of apartments for sale. In the past year alone, over 11.5 thousand title deeds were issued in Antalya. Istanbul, a city five times larger in population than the entire Antalya province, secured the top spot with over 15 thousand houses sold. On the other hand, Mersin, another Mediterranean city, achieved a record-breaking 5,700 apartment sales in 2023, according to statistics from TUIK
Anticipating Price Shifts: Apartments in Antalya Projected to Rise by 2024
The years 2022 and 2023 marked unprecedented growth in real estate prices in Antalya, witnessing an average increase of 260% for apartments. The escalating costs have made purchasing an apartment in Antalya challenging for many, with off-plan properties now starting at $100,000. As Türkiye’s flagship city, Antalya faces limited central land for construction, propelling sea-front apartment prices beyond the $1 million mark. Notably, areas like Lara and Konyaalti continue to set records for real estate prices.
Investors are strategically shifting their focus toward Gazipasa and its surroundings in Alanya. Meanwhile, Mersin is emerging as a newfound attraction, experiencing a notable rise in investments for the first time.
Turkish Real Estate Trends 2023: Understanding Average Costs per sqm
Between September 2022 and September 2023, Turkish real estate in prime investment zones witnessed a remarkable increase, with average costs soaring from 100% to 150%. Here’s the breakdown of the price per sqm for newly built units in key cities:
– Istanbul: $1232 per sqm
– Antalya: $1156 per sqm
– Mersin: $723 per sqm
Mersin stands out as a more budget-friendly option compared to Istanbul and Antalya. In hotel-concept complexes in Mersin, the cost per sqm for apartments ranges between $830 and $1050.
It’s crucial to take note of the escalating construction costs, encompassing both raw materials and labor force, contributing to the evolving landscape of real estate pricing.
1+1 Apartments in Antalya Hit the $100k Milestone
The price for a 1+1 apartment in Antalya has recently jumped beyond the 100k USD mark. This apartment style is a hot commodity, appealing to a diverse range of investors for both residential and high-return investment purposes. Particularly sought after by those planning seasonal stays, the attraction of Antalya extends globally, with residents from Germany, Russia, and Britain ranking among the top active buyers.
Beyond its reputation as a tourist hotspot, Antalya is making waves as a thriving business center in the Mediterranean region. The demand for apartments is notably high among company owners who have chosen to relocate or expand their operations by opening new branches in this dynamic city. Antalya offers a perfect blend of tourism and business opportunities, making it an ideal choice for those seeking not only a place to live but also a smart investment strategy.
Affordable Luxury: Studio Apartments in Mersin Starting from €42,000
Mersin stands out as a unique exception along the Mediterranean coast, allowing the construction of studio apartments, making them the most budget-friendly option starting at just €42,000. Unlike many other Mediterranean provinces, Mersin’s local authorities permit the development of studio apartments, provided the net area is not less than 28.5 sqm.
This accommodation style is particularly popular in Mersin due to its large population of migrant workers, students, and tourists. The Erdemli area, in particular, boasts a variety of studio apartments in residential complexes situated just 300-500 meters from the coastline. With sea-view units available from the 3rd floor onward, these studio apartments offer an enticing opportunity to experience coastal living.
Explore our studio apartments for sale in Mersin at the best prices here
Invest Smartly in 1+1 Apartments in Mersin for Future Gains and Coastal Charm
One-bedroom apartments, featuring a living room with a kitchen and a separate bedroom, stand out as the most sought-after investment properties. With the Mediterranean region gaining popularity, these budget-friendly units are poised for excellent future sales. The key to maximum profitability lies in acquiring them during the pre-sale and off-plan development stages, promising a substantial 30-40% capital gain.
Take, for instance, a 1+1 apartment in Mersin, starting at €54,000 during construction. Projections suggest the value could soar to €72,000-€77,000 upon completion. Often chosen for investment or rental purposes, these apartments near the sea offer heightened investment potential. For those looking for rental income, our comprehensive property management services ensure 360-degree care for your unit.
Don’t miss out on the prime 1+1 apartment deals in Mersin – seize the opportunity now!
The Rising Star of the Mediterranean Region: Affordable Apartments in Booming Mersin
Embraced by constant growth, Mersin boasts a thriving industry, well-established urban infrastructure, and stunning beaches, making it a magnet for developers and investors alike. The added allure? Affordable prices allow buyers to secure apartments at remarkably low costs, especially during the development phase, offering savings of 30-40%.
What appeals the deal, even more, is the option for interest-free installments on all new developments until construction completion. Picture this: a 1+1 apartment starting at just €54,000, requiring a modest 50% down-payment (€27,000). The remaining half can be comfortably spread across equal monthly installments until key delivery, making it an affordable €1,125 per month over a 24-month installment program. And here’s a savvy tip – if you have the full amount, the interest-free installments let you purchase not one but two properties in Mersin at once!
Comparing prices with Antalya, Mersin is coming in front with apartments priced at half the cost. The international airport opening is going to transform Mersin’s tourism and investment landscape dramatically soon.
Understanding Affordable Real Estate in Türkiye’s Diverse Market
Every real estate investor in Türkiye aims to make cost-effective decisions when purchasing an apartment, desiring both savings and quality. However, the term ‘cheap’ may trigger concerns about real estate quality. The reality is different, lower real estate costs in Mersin stem from abundant available land for construction. This contrasts with Antalya and Alanya, where the scarcity of free seafront land opportunities influences prices. Understanding these dynamics is key to making informed and diverse investment choices across Türkiye’s real estate spectrum.
Seize the opportunity to make smart investments in this rising city of the Mediterranean right now!
