As the world continues to change at breakneck speed, and many destinations globally that once were great places to live and work are now altogether becoming more expensive due to systemic governmental disarray and corruption, rise in monetary inflation, let alone new conflict zones rising up, there does remain a few hidden, well-positioned nations left that may in fact actually use the current chaos to rise up to new prominence and prosperity, in the not too distant future.
One of those nations is Turkey (or Turkiye, as the nation has begun to re-brand itself to the outside world), who along with being forever linked as the true crossroads between east and west, still maintains unbelievable investment opportunities for the savvy expat, digital nomad, or retiree, looking to place their money into low-risk, high-yield assets, and even get a residency permit (or citizenship!) out of it.
Filled to the brim with an incredibly rich culture, very warm and welcoming people, incredible historical and natural sights, as well as some of the best food on the planet, Turkiye is easily one of the most interesting places to live, make money, or travel within, and has become one of my personal favorite places on the planet, with very few nations coming close to the high standard that this beautiful nation has set.
Of course, being a nation of over 80 million people, Turkiye is an absolutely massive nation, and that can lead to confusion for those looking for the best cities for property investment in Turkey. However, having lived in the country for a significant time, I am happy to say after lots of on-the-ground study, as well as plenty of statistical research (and a dash of my own gut instinct), I can now share with you the top 5 best cities for property investment in Turkey – here they are below!
#1: Istanbul
With a population of more than 16 million people and counting, Istanbul, the largest city in Europe, and 7th largest on Earth, is not only massive in size, but also absolutely massive in heart – making it one of my favorite places to live anywhere on Earth, and I cover some of the best (and worst!) places to live within the city in an in-depth article here.
Despite its size and historical significance, having once been known as Constantinople, the capital of the old Eastern Roman Empire, this incredible city is in fact not the modern day capital of the Turkish state – and yet, remains the nations absolute business, cultural, and financial core to this very day, all of which make it one of the most attractive and best cities for property investment in Turkey.
However, Istanbul is not one of the world’s best kept investing secrets anymore – prices on real estate have risen massively in both Turkish lira terms and USD over the course of the last few years, all of which have made investors who hopped on the investment train an almost immediate payback on their capital.
However, despite these price increases (and the relatively low recent supply, due in part to the local populace desiring to sink their money further into inflation-offsetting assets, as opposed to holding onto quick devaluing liras in the bank), the fact that one can still purchase property for about $1200 sq/mt in some of the best central core areas (such as near Nisantasi, for example), make this one of the best cities for property investment in Turkey, let alone in all of Europe as a whole.
#2: Ankara
However it would be remiss to say that Istanbul is the only Turkish city that offers amazing investment opportunities, as one of the best cities for property investment in Turkey is indeed the nation’s political modern-day capital of Ankara.
A bustling metropolis in the center of the country, Ankara offers all the convenience, glitz, and glam of living in a major, international city, along with major hospitals, entertainment centers, universities, and more – but with very little of the daily chaos that plagues the oft-over crowded Istanbul.
Ankara’s appeal may not be as vivid as Istanbul’s, or as picturesque as Antalya’s, but what Ankara has that no other major city in Turkiye can offer, is its perfect, central location – making it close to everything in the country for travel, as well as very well connected with direct flights to many cities in Europe, the Middle East, and North Africa.
Add in the fact that Ankara is where all the major governmental agencies in Turkiye reside, and you have a lovely, modern metropolis, that is not only the second most popular city for expats and locals alike to purchase real estate in, but also makes it one of the best cities for property investment in Turkey.
#3: Antalya
Moving down to Turkiye’s lovely coastline is the southern, Mediterranean city of Antalya – yet another one of the best cities for property investment in Turkey. Set between both gorgeous seaside and tall mountains, Antalya is the rare destination that offers year round entertainment, attractions, and beautiful natural sights to be seen in both winter and summer – ensuring you will never get bored if you choose this city as your next home!
The diverse nature of this city’s offerings also has proven to make Antalya one of the most popular and best cities for property investment in Turkey, as for years investors from Russia, the Middle East, and Europe have flocked to the city in droves, making it the third most popular place in the nation for real estate investment.
Of course, heading into 2023 and beyond, the popularity of Antalya for foreign and domestic investment looks forecast to continue to grow even larger, and though new building projects in the area may not be the best for long-term capital gains, rental yields in this part of Turkiye as usually very consistent and high.
If you can handle the brutal summer heat, and buy in centrally located areas, then Antalya certainly becomes one amazing choice for any prospective expats, digital nomads, retirees, or investors, looking at purchasing real estate, in one of the best cities for property investment in Turkey.
#4: Izmir
Keeping with the coastal theme, we now move west across the country, toward the Aegean Sea, where the cool, chilled out port city of Izmir resides – and proudly wears its title as one of the best cities for property investment in Turkey very well indeed.
Considered the most liberal, open-minded, and even European leaning city in all of Turkiye, Izmir has a very relaxed cultural vibe, and an amazing cafe culture, overlooking the gorgeous coastal parks and sea. Izmir also ranks very highly on the popularity index for many university students looking for a party-friendly atmosphere, and Izmir’s nightlife is easily one of the best in the country as well.
Izmir is also much closer to Istanbul and Greece (both short ferry rides away), and much cooler in the summer than Antalya, despite not being perhaps as interesting a city, with as many gorgeous natural sites – although its close proximity to ancient attractions, like the UNESCO-heritage site of Ephesus, definitely helps to make up for it in that regard.
Although I prefer Antalya to Izmir as a matter of vibe and personal preference, I will say that it does Izmir no discredit, and this beautiful Aegean coastal gem of a city remains a very good place not only for mid to long term capital gains and rental yields due to its high influx of tourism, but also due to its enduring cultural draw towards the west, and those sympathetic to liberal values. Ultimately, Izmir for these reasons and more makes it one of the best cities for property investment in Turkey into the foreseeable future.
#5: Bursa
Perhaps the most surprising city on this list is the rapidly growing western Turkish city of Bursa, located just due southeast of Istanbul, and very close to the Sea of Marmara, which has in just the past few years absolutely exploded in popularity, easily making it one of the best cities for property investment in Turkey.
Once mostly used as a popular getaway destination for residents of Istanbul, looking for a relaxing respite from the chaos of the big city, today Bursa has become a booming town in its own right, with the once historical Ottoman heritage of this city, as well as its incredible natural sites, and great winter skiing, proving to make it one of the best cities for property investment in Turkey, and one of the fast growing as well.
Investing in Bursa promises great overall returns on capital gains yields over the mid to long term, with its place in the top 5 cities in Turkey for property investment now fully established, and looking to keep its popularity with the local populace, and increasingly foreign investors, for quite some time to come.
Ultimately, if you are looking to be close to a major international city like Istanbul, but far away from the stress and noise to still sit back, relax, and enjoy a truly culturally and naturally gorgeous little city, then look no further – for Bursa is for you, one of the best cities for property investment in Turkey.
DESTINATION: Turkiye, A Beautiful & Mysterious Land of Opportunity
After having traveled to nearly 40 countries and six continents in counting, there are few places that have ever stood out as incredibly and beautifully as the magical land of Turkiye – a land where the warmth of the people is as genuine as the many opportunities to be had in one of the most historically rich places on earth.
I’ve written more about why Turkey is such a great place to live in general in an article right here, and its also provides even more depth to the reasons why I have chosen to invest in the country myself, both financially and emotionally, having also found love with a special someone from this very special nation.
Ultimately, if you are a foreign investor, a digital nomad, a prospective expat, or a interested retiree, desiring to place your well earned gains into a nation projected to be on the rise, and on the right side of history, then choosing one of the best cities for property investment in Turkey to purchase real estate, and gain residency or citizenship, will end up being one of the best decisions of your life – as it certainly has been for me!
Meanwhile, if you are interested in further comparing the beautiful land of Turkiye to other nations in the Eastern European region, feel free to look at my in-depth analysis on which are my top countries in the region to move to right here – you’ll be glad you did!