Table of Contents
Making a Real Estate Investment in Izmir? A Value Play within Turkey
Why invest in Izmir real estate
- Izmir is a large, diversified city with a growing economy, not heavily dependent on tourism
- It offers much better value compared to Istanbul or Antalya
- Few foreign buyers so far, providing an opportunity for value
- Well-connected with a new airport and frequent flights to Istanbul
Potential Downsides
- Earthquake risk, though new buildings follow strict regulations
- Turkey's economic and geopolitical challenges
The Izmir Housing Market
- Prices per sq.m. are about 40% lower than Istanbul
- Cash transactions are common, with some prices indexed to USD
Promising Neighborhoods for Investment
- Karşıyaka: Pleasant area with higher-income residents
- Alsancak: Lively center, good for short-term rentals
- Karatas/Konak: Reasonable prices, good connectivity
- Bayrakli: Offers sea views at reasonable prices
- Narlidere and Balcova: Expanding, quiet, premium areas
Example Investment
- 70 sq.m. apartment in Karatas
- Purchase price: $130,000 all-in
- Potential net rental yield: 5%
Who is this right for?
- Those seeking Turkish real estate investment at better value than Istanbul or Antalya
- Investors interested in the Turkish Citizenship by Investment program
