This article tells about a promising alternative to Istanbul in terms of investment in the Turkish real estate market. We are talking about the nearby city of Çanakkale, real estate on whose territory is becoming extremely popular and quickly becoming more expensive due to the successful completion of the infrastructure mega-project, which involved the construction of the longest suspension bridge on the planet, linking Europe and Asia. Also, you may be interested in the Tosmur area. It is a district of Alanya, located close to the heart of the action, the historical center of the city. You can find all the latest information about house prices in Turkey, availability of villas and many other things on the Turk.Estate website.
Property market in Turkey
The pandemic has had a significant impact on the growth of foreigners’ interest in the Turkish housing market, forcing many residents of the northern countries to think about moving to the south resort states with developed medicine, a warm climate and a high level of food security, as well as liberal immigration laws.
Turkey met all the requirements for such expats, offering guests the opportunity to obtain a residence permit through the purchase of housing of any value. And the wealthiest newcomers did get the right to a quick (issued in 3-4 months) Turkish citizenship through the purchase of real estate.
- According to home sales statistics for February 2022 released by the Turkish Statistical Institute (Türkiye İstatistik Kurumu; TÜİK), foreigners bought 4,591 residential properties in the Middle Eastern country.
- The share of foreign buyers in the total number of housing sales increased relative to the previous month and year on year, reaching 4.7%.
Çanakkale is a hidden alternative to Istanbul with great potential
But experts advise investors to pay attention to the city of Çanakkale to the west and the surrounding settlements, which have great potential in terms of increasing investments in the long term.
Çanakkale (formerly Dardanelles) is a city and seaport in the Turkish province of the same name on the southern coast of the Dardanelles, located at the narrowest point of this strait. The city’s population is now 195,000 (est. 2021) and is growing rapidly thanks to the implementation of a massive infrastructure project to build a bridge across the strait, designed to relieve Istanbul’s bridges and become an additional transport artery between two continents: Europe and Asia.
Çanakkale real estate market
Positive dynamics in the Çanakkale real estate market began to be traced back in 2017, when the builders laid the foundations of a new bridge. Today, the real estate market in the region continues to grow both in terms of price and demand.
Thanks to the mega-project, the city of Çanakkale is now highly popular among land buyers and land prices are rising rapidly. The value of residential land in Çanakkale increased by 49% in 2021 (hereinafter adjusted for inflation) and by 136% over a 4-year period. The annual increase in prices for ready-to-use housing was 102%, and the 4-year increase was 197%.
Local developers show an increased interest in undeveloped areas of the region, seeking to acquire inexpensive land in interesting locations.
Directly in Çanakkale, prices have been rising by leaps and bounds – especially in recent months. At the time of the start of the mega-project, a square meter of land there cost TRY 1,000. To date, the price tag has increased to TRY 2000-3000.
Tosmur area, where we recommend considering real estate both for investment and permanent residence in Alanya, has a number of features. A little piece of paradise, where you can walk to a bakery or a Turkish restaurant, and there is always some kind of supermarket or greengrocer around the corner of your house. If you are one of those who love Turkish beauty of nature and the sea, this is one of the best areas. It is strewn with greenery, has a hilly area and good views of the sea and mountains from the apartments.
On the Dim Chai River, which is a maximum of 10 minutes walk from the farthest house in Tosmur, bright rose bushes of bougainvillea grow, a lot of greenery, gazebos where you can relax and make barbecues, public restrooms. In the gazebos on the waterfront you can often meet fishermen.
Caressing sea near Tosmur
Apartments in Tosmur are suitable if you are one of those who values a comfortable beach holiday with children. A small stretch of beach 1.4 km long has a gentle entry into the sea. There are no plates here, the coast is with small pebbles and sand. There are sun loungers, cafes, amenities. The beach in Tosmur is much less crowded even in high season than the beaches of Cleopatra, the banks of the Oba and the center of Alanya. At the same time, in the hottest time of the year, it is possible to swim in the part of the beach where the Dim Chai River flows into the sea. Due to the flow of cold water from the mountains, here the water in the sea is much cooler even in August.
Better than the best hotels
Although there are free building plots a little further from the sea, land in Tosmur is so expensive that real estate prices are never low when considering new developments. Today, exclusive projects with luxury infrastructure are planned here. These are ideal residences for holidays, rent, and moving. Apartments in Tosmur are in high demand among holiday rentals.
Interested in Tosmur to buy real estate? Finding it is no easy task. There are few finished housing for sale, and even fewer new buildings, projects can be counted on the fingers of one hand.
Occasionally, but still there is a secondary property in Tosmur, prices for it are kept at the average level, but a lot depends on the complex itself. The apartments are distinguished by large quadratures, spacious view balconies.
There are few simple Turkish houses here, mostly Tosmur real estate is represented by resort residences with swimming pools and other infrastructure. There are wonderful complexes with a large territory, which is looked after by gardeners.
Real estate in Turkey
If you are interested in a residence permit in Turkey when buying a property in elite, new complexes located in various Turkish regions write to the specialists at Turk.Estate website.