Real Estate in Izmir

Izmir, the “Pearl of Aegean” is the third-largest city in terms of population after Istanbul and Ankara. It has a Mediterranean climate with long, hot, and dry summers while the winter is mild and rainy with average temperatures.

The real estate sector has developed significantly in the last few years combining both dynamic life and commercial events, so when you consider buying a property in Izmir you can enjoy the social life and develop your work in such an investment environment. Things to consider when buying a property in Izmir are as follows:

• Choose your consultant: Many people travel to Turkey and meet someone who has a buddy who happens to be selling apartments at a very low price. However, if you want to acquire such a home, make sure the individuals and real estate firms you work with are professional and reliable, so they can help you avoid any problems and save money. Some people believe that not working with a real estate company will save them money, but it may end up costing them a lot more. Choosing a professional real estate agent, on the other hand, can help you navigate the complex property acquisition process, stay on top of all purchasing costs, and save money.
• Make your Inspection tours: It's critical to find a home that meets your needs. Examine it thoroughly, pay a visit to the location, and take two or three excursions until you're satisfied.
• Get some support: Working with an experienced attorney offers you additional protection. The lawyer may go through all of the legal documentation and make sure there are no issues in the future. A person like this is also essential so that they can protect your interests.
• Verify the Legal Procedures: Make sure all of the papers, particularly the Title Deed (tapu), are in order. A contract should be drafted by your lawyer, Real Estate Agent, and seller that clearly states all of the terms of the sale. This should be as specific as possible, with payment dates clearly defined and any penalties for anyone who does not follow the contract put down and agreed upon. This is the time to make your deposit.

Izmir is distinguished by a variety of concepts and quality standards that may accommodate most goals at reasonable costs. The majority of the new modern projects are located in serviced compounds and complexes with flexible designs. From low-cost studio flats to high-end lofts, there is something for everyone. Commercial units such as businesses and retail complexes are one choice, while individual properties such as independent residences and aristocratic villas with beautiful gardens and unique vistas are another. Furthermore, sophisticated business environments such as work centers and home office towers may be found across Izmir in prominent districts, meeting corporate and commercial needs.

The price range of property in Izmir differs depending on the market values taking into consideration the location, view, quality of construction techniques and materials that are used, and available services. According to the (Endeksa) statistical website, the annual average price for buying a house in Izmir is around 1,041,625 Turkish lira.

Similar concepts of construction and property projects in Izmir can also be found in other provinces with metropolitan centers like Antalya, Istanbul, and Bursa.

How are the Prices of Properties in Izmir Determined?

Many factors influence the pricing of property projects in Izmir, and the following are a few of the most important ones that directly affect those figures:

• Neighborhood: One of the most significant determinants of a home's value is its location. It has the potential to influence both qualitative and quantitative aspects of a home's appeal. For example, responses to queries like how close it is to the city center, how distant it is from the sea and coastal services, or how close it is to the mountains and greenery.
• The Local Market: The current status of the market has an impact on the value of a home. Home prices are influenced by market supply and demand as well as social amenities such as hospitals, schools, large shopping malls, coastal facilities, and access to major highways. It may, however, fluctuate due to minor changes in the economy of that region.
• Size and Features: The size of a home has a significant impact on its worth, and some potential purchasers use price per square foot to filter out this effect and evaluate value. Not to mention the interior design quality, materials utilized, the property's location inside the building, and the view it has.
• Age and Condition: The state of the house is really important. Because of the techniques utilized in the construction process, newer homes will sell more than older ones. This has a good impact on maintenance, which has been reduced from 15% to 0%. Aside from that, the foundation, structural stability, electrical work, plumbing, and fixtures all had an impact.

What are the Benefits of Buying a Property in Izmir?

Izmir is one of the most preferable cities in Turkey when it comes to buying a property. It is a prominent city in the business, tourism, and real estate market. The benefits of Buying a Property in Izmir are listed below:

• There are a variety of choices: Izmir attracts many domestic and foreign tourists every year, and Ephesus city ruins and Pergamon ruins are worldwide famous giving the city its ancient spirit. There are also golden beaches like Cesme and Alacati which combine sea, sand, and sunlight in such a beautiful way. In addition, the coastal lifestyle is recommended by doctors to improve our mental health.
• Economic Aspects: Izmir is The Second Largest Commercial Center in Turkey. It is taking a share of 4.1% of total imports and 6.1% of total exports in Turkey, thanks to having more than 4500 export companies and a $17.1 billion foreign trade volume in total. Besides that, Izmir is famous for products like textiles, agriculture, chemicals, machinery, and equipment. The Imports and exports are done mainly with Germany, China, Russia, USA, England, Spain, and Italy according to the last few years' statistics.
• Transportation Alternatives: The airport of Izmir is working highly efficiently serving about 13 million passengers every year. It is Turkey’s fifth busiest airport, but Izmir is also easy to get to via highways thanks to the highways network and bus stations with scheduled routes, or simply, one can get to Izmir by sea using ports like Kusadasi and Cesme. In other respects, the buses, Suburbans, subway, and tram serve public facilities such as Healthcare and educational institutes, entertainment, and amusement parks as well as local shopping centers and international brand stores.
• Affordable Expenses: If we are comparing Izmir to other prestigious cities in Europe or even to cities in Turkey, Izmir offers the same standards of luxury and modern living experiences at affordable prices. You can find many living choices available, especially for foreign residents who can benefit from the high exchange rates of the US Dollars and Euro currencies.

What are the Features of the Property Located in Izmir?

Izmir is one of the strongest elements of real estate in Turkey. It can give you a lot of choices including investing in real estate or even owning your dream house. Here are the features of the property located in Izmir:

• Inside The Property Options: Even within the same project, Izmir's real estate projects provide a wide range of options. It ranges in size from small studio apartments to large luxury villas with full private amenities. This has a positive impact on the possibilities accessible because it offers a solution for every financial and social circumstance. The average size of a property in Izmir's huge housing projects, on the other hand, is roughly (110 m2).
• Lovely Nature: The blue deep water that characterized Cesme is located on a small peninsula, sitting opposite the Greek island of Chios in the Aegean Sea, located approximately 80 km west of Izmir and 90km from Adnan Menderes International Airport. The peninsula has many coves and stunning beaches around its shores all as popular as each other for many reasons, the laid-back atmosphere, the crystal-clear waters, charm, and beauty, and all within very easy reach of the Cesme town center with its ancient castle and upmarket marina. However, if you want to experience the Sea and the Forest in one place the Inciralti City Forest could help you with that. The Forest is combining both sea and nature in one place, covering an area of approximately two million square meters. There you can do sports and jogging and have a picnic in this area at all hours of the day. In addition, there are recreational areas, bridges made of natural stones, rocks, woods, walking trails, and cycle lanes in the Inciraltı City Forest. The wetland area where birds shelter and spawn is protected by a wire fence.
• A Life to Live: Izmir is ranked the 7th most developed city in Turkey in the Human Development Index 2020 (INGEF) research published by the Human Development Foundation. The well-being of city people and the infrastructure possibilities and clean environmental conditions all increase the life quality of individuals. According to indexes of Numbeo which is the world’s largest database of user-contributed data about cities and countries worldwide, Izmir stands out among many cities of the world, especially in terms of Climate, Safety, Health Care, Traffic Commute Time, and Quality of Life.

What are the Reasons for Buy Property in Izmir?

Izmir outperforms the rest of Turkey’s cities in sea trade. The history of the city and its strategic location make the city popular. Here are the reasons to buy property in Izmir:

• Always in Progress: The number of comparable large-scale investment projects in the vicinity of Izmir is a decisive factor for investors who want to invest in the city. In the previous ten years, the city's road and rail networks, as well as pedestrianization and traffic management, as well as air and marine facilities, have all grown considerably. A subway line that extends from Karsiyaka around the Bay of Izmir was finished in April 2017, and a second, 12.9-kilometer-long metro line opened from the Konak side later that year. The Municipality is constantly improving, and most of the emerging outlying neighborhoods are already connected to major shopping and nightlife hubs.
• High Rate of Growth: The majority of Izmir's economy is made up of industry, trade, transportation-communications, and agricultural industries. Metal, textile, machinery, food, tobacco, foodstuff, commerce, construction, and textile/ready-made clothes are all well-known industries. Wood furniture, chemical-plastic, and agricultural product trading are all common in Izmir's commercial activities. Agriculture and animal husbandry's key producers are cotton, grape, olive, fig, tobacco, vegetables and fruits, fish, and animal by-products. According to Izmir statistics, the city accounted for 6.1 percent of total Turkish exports in 2013 and over half of those from the Aegean Region.
• An investor by Day, Tourist by Night: As a result of the city's westernized ideas and vibrant life, foreign investment expands year after year. It may be the ideal city by the sea for an entire Aegean journey. Izmir is recognized for its gastronomy and nightlife in the Aegean region. Traditional Turkish cuisine may be found in the Alsancak and Izmir Fuar areas, while unique cafes can be found in Bornova and Balcova. Izmir is a treasure mine of art, with shopping meccas spreading over the city, cafes rooted in Parisian culture, Madrid's refinement, London's creative vibe, and Athens' cultural experiences all merging in one area, leaving you spoilt for choice.

What are the Materials of the Properties in Izmir?

The pupils of Turkey's eyes, the shining stars of the seaside, villas in Turkey are well-known around the world for their unique plots, contemporary interior designs, and high-quality materials used during the construction process. The project architect, control engineer, and quality control architect collaborate to select construction materials that are excellent matches for the plans. The materials of the attributes are, in general, as follows:

• Main Construction Materials: Gypsum, paint, glass, cement, iron-steel, natural stones, gas concrete, roof, PVC, and heating and cooling system are common and used widely almost in all types of modern projects and some of them are used as decoration materials.
• Soundproofing Materials: Soundproofing is a specialty that revolves around efficiently regulating unwanted noise with a variety of soundproofing materials that can lessen the effects of noise, give a quieter home, and assist companies in reducing the noise impact that surrounds them.
• Heat-Resistant Materials: It is critical to keep your building safe, especially when dealing with fire damage. Fire can destroy a structure, but utilizing heat-resistant materials ensures a high level of protection and a defense that can withstand any situation.
• Earthquake-proofing: Earthquake-proofing is a common part of designing buildings in countries like California, Southeast Asia, and Chile. Some of the tallest buildings in the world are designed to withstand earthquakes of up to 8.0 on the Richter scale. It has become essential in every modern project. Izmir takes Earthquake-proofing seriously using the five key features of earthquake-proof buildings which are: The stiffness of the earthquake-proof buildings. The foundations of earthquake-proof buildings. The use of cross braces in earthquake-proof buildings. The multiple safety strategies built into earthquake-proof buildings. The materials used in earthquake-proof buildings such as Structural steel, Wood, Bamboo, and Reinforced concrete.
• Thermal Insulation Materials: Thermal insulation materials save money on energy by keeping your home warm in the winter and cool in the summer. They function by preventing heat transfer between two objects of different temperatures, such as the house and the outside world. It could prevent heat from spreading through convection, conduction, radiation, or a combination of the three.
• Secondary Construction Material: Aluminum, wood, elevator, and lighting are used too.

What are the Property Options in Izmir?

The property options in Izmir are as follows:

• Apartments and Flats: Stand-alone towers and residential buildings, as well as apartments and flats in fully serviced housing communities. Those units could range from low-cost studio apartments to full-service 5-star hotels. Property can also be found for a modest price, however, the quality varies.
• Detached Villas: Detached Villas with views of the Aegean Sea, with the blue deep sea during the day and city lights at night, large open spaces, lakes, or even direct access to the beach Those residences have been designed with high-end luxury features in mind. First-rate finishing, all-inclusive amenities, and high-end decorating.
• Business Centers and Home Office Towers: Modern business environments are compatible with Business Centers and Home Office towers. You can choose to be in the heart of the city, near vibrant living centers and transportation channels, or just outside the city, closer to the sea or forest.
• Shopping Centers: All-purpose commercial units and thoughtfully planned stores can be found in shopping centers with exceptional locations. The majority of them are located near major thoroughfares and social hotspots, as well as essential motorways and traffic intersections.

So many foreign and local investors are beginning to understand the beauty of investing in Izmir. It seems the right time to take a chance at investing in Izmir.

Who is Suitable for Owning a Property in Izmir?

People suitable for owning a property in Izmir are as follows:

• Investors in Real Estate: Whether you are investing in hotel residences or a small flat on the outskirts, Izmir is steadily establishing a solid reputation as a superb investment choice in both real estate and trading. By offering a new construction project with a diverse pricing range to fit everyone's budget.
• Environment for Business People: Izmir provides a strong solid work footing with a variety of career prospects and fertile terrain appropriate for small, medium, and large-scale commercial operations.
• People Seeking Balance in Every Aspect: Most families pick Izmir as their new heading of residence because of the mix of magnificent nature, and the seaside.
• People Seeking Luxury: Izmir has a wide range of real estate projects to suit all tastes. Exclusive penthouses with 5-star - hotel services, just a few steps away from the sea and sandy beaches. When you possess such properties, you may live the VIP lifestyle and spend quality time with your loved ones.
• People who seek for being Turkish citizens: According to Turkish civil laws, foreigners from white-listed countries can apply for Turkish Citizenship after meeting a certain criterion. Buying Izmir apartments for sale is one of the most used approaches to comply with the constituted requirements of the application.

Are Properties Located in Izmir Suitable for Those Who Want to Be a Turkish Citizen? 

Yes, properties located in Izmir are suitable for foreigners applying for Turkish citizenship. However, other financial considerations and ownership obligations should be taken into consideration, to be fully compliant with the current legal 10 clauses of the application process.

Turkish Citizenship is one of the most sophisticated titles across the globe since it offers plenty of advantages, such as:

• Ability to visit more than 116 countries for Personal, and more than 155 Business passports visa-free. Besides the potentiality of including EU countries shortly.
• Besides owning such a prestigious passport, it provides the safety of guaranteed investment returns.
• Quick Citizenship and Passport issuance process, down to 3 months only.
• Multi-nationally and Wealth disclosure-free authorizations.
• Comprehensive Medical Insurance and Quality Education for the whole family.
• Safety, democracy, and freedom.

What is the Advantage of Property Buyers in Izmir?

The experience of living in Izmir can give you different feelings with such a colorful life on so many levels. Many people move here, to enjoy the Aegean life. Here are some advantages of living in Izmir:

• Lively Ancient Culture: Because of its climate and the fact that it has become home to many various cultures and religions like Persians, Ancient Greeks, Assyrians, Romans, Byzantines, and Ottomans, Izmir is renowned as an economically and socially vibrant city. The city is active since over half of its people are under the age of 30. Thousands of university students, scientists, artists, and business leaders are also housed there.
• Joyful Activities: With 300 days of sunshine, Izmir delights guests with its cuisine, blue sea, sports and health facilities, and natural living areas. Visitors will want to return or perhaps settle in the area. You may always enjoy geothermal springs, which are easily accessible and located in Balcova (historically known as the Agamemnon Springs), or you can experience modern villas and facilities that offer treatments such as thermal pools, springs, and spas for your daily escapes. Another option is to rent a bicycle and travel to Izmir on the tracks, taking in the city's facilities, golden beaches, and lovely woodland.
• Living in Safety: Izmir is one of the safest and most expat-friendly cities in the region, despite its busy and cosmopolitan nature. Izmir is a wonderful alternative for real estate buyers due to its solid security systems, the touristy nature of the city, and the pleasant attitude of the people that live there.
• Easy to Reach: The Izmir Metropolitan Municipality operates buses, metro, trains, ferries, and trams for urban transportation. Other public transit is linked by a system that connects the sea, land, and all city services.
• Attraction Center: Izmir is one of Turkey's most important hubs of international contacts, investment, and trading due to its social, industrial, and geographic characteristics. Job seekers, businessmen, and investors flock to the city's golden beaches to set up shop.

What are The Price Ranges of Properties Located in Izmir?

According to Real Estate market analysis, as per Izmir’s neighborhoods, the average price of buying a property is shown in the table below:

Those ranges are not fixed figures. Underlying factors like foreign currency changes, seasonality, and urbanization plans may interfere to change the values. The social standards of each spot, proximity to major life amenities, and transportation facilities also play an important role in the pricing levels.

What are The Payment Methods for Buying Properties in Izmir?

Payment arrangements and financing procedures for purchasing a home in Izmir are often extremely flexible and straightforward. They usually fall into one of the following groups.

• Advanced down payments of corresponding installment plans: The amounts and time frames are usually changeable based on commercial formulas. Long-Term/Short-Term, as well as annual installments, are also among the used patterns.
• One-time cash payments: Those types of financial terms are usually accompanied by competitive discounts. They are more applicable for affordable pricing modules.

What is Life like in Izmir?

Izmir is one of Turkey's most beautiful and calm cities, which makes the trip unforgettable for everyone, and many tourists visit the city as part of their tourism itinerary. They decided to stay in it for a long time, if not a lifetime. Aside from its sandy beaches, historical buildings, mineral waters, ancient cities, palm trees, cafes, and other attractions, Izmir features a plethora of natural wonders. All of this is accompanied by burgeoning business opportunities, job offers, and well-thought-out educational plans. The many residential projects also offer a wide range of options and characteristics, including location, views, designs, and price ranges.

What Are the Other Cities That Have Properties Similar to Izmir?

We can name other cities in Turkey resembling the Izmir experience like:

• Istanbul: Istanbul real estate market is the most active in Turkey, with major property and infrastructure developments being created daily.
• Alanya: Between the cities of Antalya and Mersin, Alanya real estate is one of the best choices in the southern Mediterranean region.
• Bursa: Bursa, formerly Prusa City, is a Turkish city in northwest Turkey. The city's appeal has grown in the Turkish and international real estate markets. It's not hard to find Bursa apartments for sale, just contact us.
• Bodrum: When requirements such as having a decent life by settling for a long time and having investment profitability are considered, Bodrum, in western Turkey, is a vital and ideal location for international real estate buyers. It's hard to find real estate in Bodrum, but if you can find it, we suggest you not let it go.
• Mersin: Mersin is one of Turkey's most popular tourist destinations, and ex-pats are flocking to live there. The appeal of the city has spread throughout the real estate market, especially in the last ten years which makes Mersin real estate also another important option to consider.