Real Estate Market

Turkey's Real Estate market experienced a revival in the past 2-3 years starting with the decline in interest rates. The government also changed the law to allow foreigners acquire real estate in Turkey. Later that law was overturned. However, government is working on a new law that would again allow foreigners to buy real estate.

The idea behind real estate investments is "convergence" of Turkish real estate prices and European real estate prices. Anectodal evidence suggests that real estate in Turkish Mediterranean is 50% cheaper than French, Spanish, and Greek real estate. The only problem with this idea is that rental yield is too low to justify current prices. However, if you want to move to Turkey or spend extended periods in Turkey then you should seriously consider real estate investments in Turkey. Eventually it will yield a big enough return and until then you can enjoy long Turkish summers and mild winters on the southern and western Turkish coasts.


I, myself, considered investing in Istanbul residential real estate. However, I don’t have any means or patience to rent my place out while the prices reach my target level. The rental yield was about 5% which is too low for my taste anyway. Another option is to buy a place in Antalya (or nearby towns). I will probably go with buying land in Antalya area but this depends on prices.

Currently, I have Is REIT (ISGYO) in my portfolio and I want to add some other REIT if there is an opportunity to buy.