Real Estate İzmir
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Why buy Real Estate in İzmir?
İzmir is a vibrant and dynamic city located on the Aegean coast of western Turkey. Therefore, living in İzmir and property for sale in İzmir is in high demand. İzmir is the third largest city in the country and a major economic hub, making it an attractive destination for foreign buyers looking to purchase real estate in İzmir. Here are some reasons why you might want to consider İzmir real estate:
Reasons why people buy property for sale in İzmir:
1. Affordable prices:
One of the main advantages of buying real estate or focus on apartments for sale in İzmir is the relatively low prices compared to other European cities. You can find a wide range of properties available, from cozy apartments to spacious villas for sale in İzmir, at prices that are significantly lower than in many other popular destinations.
2. Good business environment:
The Turkish government has made it easy for foreign buyers to purchase property in the country, with no restrictions on foreign ownership of property in Turkey. The process of buying real estate in İzmir is generally straightforward, making it an attractive location for businesses. Furthermore, the huge industrial harbor makes it a perfect destination for import and export businesses.
3. Vibrant culture and natural beauty:
İzmir is known for its rich culture and stunning natural beauty. The city has a number of cultural landmarks and historical sites, as well as beautiful beaches, mountains, and national parks. The laid-back atmosphere and less hectic lifestyle are very attractive aspects for foreign property buyers.
4. Thriving economy of İzmir:
İzmir is a major economic hub, with a diversified economy that is poised for growth. The city is home to a number of industries, including tourism, manufacturing, and real estate, making it a good place to invest in property.
5. Easy transportation:
İzmir has a well-developed transportation system, with a network of buses, trams, and ferries that make it easy to get around the city. The city is also home to an international airport, making it easy to travel to and from other destinations.
Overall, buying real estate in İzmir can be a good opportunity for foreign buyers looking to tap into the city’s growing economy and favorable business environment. With its rich culture, and beautiful natural surroundings, İzmir is an attractive destination for anyone considering purchasing real estate in Turkey.
The İzmir Real Estate Market
İzmir is a large city in western Turkey, a modern city that has become quite westernized and modern in recent years. İzmir Province is home to some very popular and elite holiday destinations with many wealthy Turkish citizens. Some people who lived in İzmir center have moved away from the city center to live in a natural green environment that offers their families a healthy lifestyle, and take a short commute to the city to work every day. Izmir offers excellent capital growth especially in Çeşme and Alaçatı which are highly sought-after areas where prices are constantly rising to meet the demand of wealthy tourists looking for quality luxury holiday accommodation in İzmir. All of these areas in İzmir Province are proving to be real estate hotspots with Turkish and foreign buyers buying property for sale in İzmir either for permanent housing or for investment purposes.
How much does Real Estate in İzmir cost?
İzmir has multiple city centers and a big variety of luxury neighborhoods and lower entry areas with real estate for sale in İzmir. The most luxury apartments in İzmir are located in the city center called “Alsancak”. The financial district of İzmir and most of the offices are located in “Bayraklı”. Property and apartments vary from $200.000 to $350.000 in the most luxurious area of Alsancak. However, there are plenty of other nice neighborhoods and areas where you can purchase a cheap apartment for a starting price of $100.000. In general, most properties build in İzmir are apartment buildings. In other nearby areas, like “Güzelbahçe” villas for sale in İzmir are more common.
Luxury Real Estate for sale in İzmir
İzmir and Çeşme are offering a wide variety of luxurious real estate in Turkey. In the historical city center of İzmir, a lot of high-end luxurious apartments and penthouses for sale in İzmir can be found. In the district “Mavisehir” there are some high-rise buildings with state-of-the-art luxury apartments as well as penthouses. Overall, it is quite easy and much more affordable to find luxury real estate in İzmir if we compare with Istanbul. Since Çeşme has a high-quality image, luxury properties are offered everywhere and a property buyer has various districts and designs to choose from.
İzmir, a metropolis city in the western part of Turkey
In ancient times the city was called “Smyrna”. These days İzmir is a developed, modern and commercial center with a big bay surrounded by some mountains. The city has the same facilities as Istanbul, meaning there are plenty of modern shopping centers and broad boulevards. There are a lot of historical churches and mosques. The city has a laid-back atmosphere like the Mediterranean part of Europe. İzmir has a strong economic position because of its location and huge industrial Harbor. The industrial port is an import feature of the whole city and has an advantageous location, perfectly suitable for various import and export activities İzmir is a very social dynamic city, with a big variety of different cultures. The city has hosted numerous civilizations and cultures in the past. Because of the perfect location the city has been one of the main Mediterranean cities and hosted the Mediterranean Games in 1971. The city recorded about 4.000 years of urban history. The life in the modern city of İzmir never stops, and the city is popular because among a young population. The reason for this is the modern mindset of the İzmir residents plus the multiple universities which are located here. You can also click here to see more information about İzmir. For a more visual impression of Izmir you can watch episodes on our YouTube channel as well : channel introduction. We also feature real-estate in İzmir on this channel.
Living in İzmir:
Climate and Season in İzmir
İzmir’s climate falls under the Mediterranean climate classification due to hot summers and cool, mild winters. Rain can occur from December to March, while sun and beach lovers can enjoy from May to September. The province of İzmir has more than 300 days of sun a year. However, travelers visiting coastal regions such as Foça, Çeşme or Alaçatı should travel between May and October, when the official tourist season begins. During this period, they are guaranteed clean beaches, a wide range of hotels and a wide range of menus in restaurants.
İzmir is located next to the Aegean Sea and offers the most beautiful beaches in whole Turkey. Çeşme is famous for its more than 25 white sand beaches and amazing public beaches plus fancy beach clubs. Nearby Çeşme you will find the world famous windsurf spot in Alaçatı. In this area there are some wind/kite surf schools, and yearly competitions are hold here. Given İzmir’s seaside location, the beaches are a focal point of the summer. Property buyers in İzmir are able to choose from more than 50 Blue Flag sandy beaches. Çeşme, Alaçatı, Urla, Foça and Dikili are home to famous beaches where you can rent sun beds and umbrellas. Because the city of İzmir is located nearby the best beaches in Turkey, it is a very popular area to buy property in Turkey. You can also watch these videos for an impression of a nice beach and beach club in this area.
Traveling to İzmir:
Getting to İzmir is quite easy and fast thanks to the railroad, highway, sea and air connections. İzmir Airport (Adnan Menderes – ADB) has frequent flights throughout the year from countries in Europe, the Middle East and Asia, as well as other locations within Turkey. Major railway lines connect it to Ankara, Konya and Balıkşehir, while regional lines carry passengers to neighboring areas such as Manisa, Aydin and Uşak. İzmir is also connected to the rest of Turkey via the D300 and D550 highways, making it easy for car drivers or bus passengers to get here. Otherwise, to reach it by sea, İzmir has six world-class marinas in Çeşme, Alaçatı, Foça and Seferihisar. Most cruise ships dock in Alsancak or the smaller ports of Aliağa and Dikili.
Transportation in İzmir
Locals are often using the regular and cheap ferry services that depart from Uckuyular, Karıyaka, Alsancak, Bostanlı and Pasaport. İzmir is also becoming more a city for bikes, with a 40-kilometer coastal path in the center of the city. If you don’t have one, you are able to rent it by the hour at one of the Numerous Smart Bike System stations (BISIM). Furthermore, it is also possible to rent electric scooters in this area. Otherwise, the Metro includes 17 stations at all major downtown locations, and locals still use the traditional bus system.
Shopping in İzmir
In all districts you can visit weekly farmers’ markets to buy organic fruit and vegetables. It is also possible to visit the biggest bazaars in İzmir called the “Kemeraltı” Bazaar. Furthermore, İzmir has about 20 large shopping malls such as a brand new İstinyePark, Hilltown, Mavibahçe, Optimum and Forum Bornova. For more information regarding shopping malls, you can read our online magazine as well.
İzmir offers something for everyone thanks to an immense variety of facilities. A favorite among locals in the city center are the restaurants located in Kordon seaside specializing in fresh food and seafood, while the Alsancak district is home to great nightclubs and bars with live music. In summer, locals in the smaller and surrounding seaside resorts prefer to dine al fresco by the sea or on rooftop terraces.
Property Prices in the province of İzmir
If you are looking to buy property in İzmir Turkey, you should first set your budget before choosing the area to buy as İzmir property prices vary greatly from region to region and Çeşme plus Alaçatı have the highest Prices. The central areas of İzmir also have a combination of prices and modern luxury. Çeşme properties have the highest rental incomes due to the luxurious image and the facilities Çeşme has to offer.
Areas of İzmir
Most tourists head straight to Konak, the old part of town with a wealth of attractions and historical sites. You can shop for souvenirs in the nostalgic shopping district of Kemeraltı and visit the Asansör, a former elevator with fantastic panoramic views and rooftop restaurants. Tradition also dictates that you must take a photo in front of the old clock tower.
Located east of Bornova, Karsiyaka is also home to the famous Levantine mansions of Izmir. This modern laid-back neighborhood is home to numerous trendy bars and restaurants. One of the hotspots of Karsıyaka is Bostanlı, a very modern neighborhood which is attracting a lot of young people.
Mavişehir is located just after Karsıyaka and has multiple popular shopping malls including big residential projects with numerous facilities. The high society of İzmir is living here.
The central areas of İzmir can be heavily urbanized with high-rise buildings, and modern new suburbs on the outskirts of the city, such as the desirable Bornova with its huge shopping center housing famous international shops, cinemas and other leisure facilities. Bornova is also home to excellent educational facilities from kindergarten to university level with the huge Ege University in Bornova and also excellent medical facilities making Bornova an excellent year-round area and an ideal area for real estate investment.
Urla is located 30 minutes’ drive from İzmir, and is famous for it green landscape, wineyards, authentic villages and bays, plus amazing real estate for sale in Urla with lush gardens. For more information about Urla, click here.
Çeşme is probably the most elite area, lying about 85 km west of İzmir on a peninsula with a rich history, and its 15th-century castle perched on a hill overlooking the town. Çeşme is known for its popular beaches with clear, water and refreshing breezes that soften the heat of summer temperatures. Buying a property in Çeşme will certainly bring you great benefits in the future as the rental yields will be very high and the capital appreciation will almost certainly be excellent.
This well-known small town is located very close to Çeşme, 70 km from İzmir, near the tip of Çeşme peninsula. An up-and-coming holiday destination and surfer’s paradise with flat water and refreshing sea breezes, ideal for beginners, with many surf schools also opening in the area. Real estate in Alaçatı has always focused on traditional stone houses with pretty wooden shutters and colorful wooden doors, renovated to their former glory and converted into great holiday homes. In recent years the area has developed some modern style contemporary luxury properties as well.
Although unknown on the major foreign tourist routes, Dikili is another longtime favorite of Turks. Another attraction besides the beaches in the North Aegean are the forested green spaces.
Many Turks have bought retirement homes in Foça due to the calm and relaxed atmosphere. The local landmark is the most famous attraction, but other recommended attractions are the village of Kozbeyli, the Siren’s Rocks and a beautiful long beach. Locals also love it for its wide range of bars, restaurants and cafes.
Aegean Locations in İzmir
Aegean Locations was founded a bit more than 5 years ago. The founder is a native Dutch person and realized there was no professional real estate agency in İzmir which is assisting foreigners with the purchase of an apartment or other property in İzmir. At this moment Aegean Locations has 2 offices located in İzmir and Çeşme. With our “National Association of Realtors” license and other certificates we already assisted thousands of customers with utmost integrity.
YouTube video with information about the İzmir Real Estate Market:
Frequently Asked Questions regarding İzmir Real Estate
Yes, there are many foreign property owners and investors who have bought real estate in different areas in the vast İzmir province, and are getting the benefits of their investment already for years.
Without the right guidance and assistance it can be risky to purchase a property in İzmir. The property purchase procedure works differently in comparison with other countries.
Property tax in Izmir is an annual fee that is calculated as 0.2% of the property value for residential homes.
All projects that are built after 2012 in İzmir are conform all safety regulations and have all necessary earthquake certificates in place.
All projects that are built after 2012 in İzmir are conform all safety regulations and have all necessary earthquake certificates in place.
İzmir is known for being a major port city and a cultural hub in western Turkey. It is also known for its beautiful coastal location and rich history. Most real estate in İzmir city are apartments. In seaside towns like Urla and Çeşme more villa properties are developed.
İzmir is the third-most populous city in Turkey, with a population of over 4 million people in its metropolitan area. However, transportation is experienced as more comfortable in comparison with Istanbul. For this reason, a lot of people prefer to purchase apartments for sale in İzmir.
The weather in İzmir is generally mild and Mediterranean, with hot and dry summers and mild, rainy winters. In seaside Towns like the nearby Çeşme, there is always a small breeze and never as hot as in areas like Fethiye, Bodrum or Alanya. Therefore, a lot of foreigners prefer to purchase real estate in İzmir.
The population of İzmir is around 4,36 million people which was measured in 2019.
Some of the top tourist attractions in İzmir include the Agora Open Air Museum, Kadifekale (a castle located on a hill overlooking the city), the İzmir Archaeology Museum, and the İzmir Clock Tower.
The best way to get around İzmir is by public transportation, including buses, metro, and ferries. Taxis are also widely available.
The local cuisine in İzmir is a blend of Mediterranean and Ottoman flavors, with dishes such as lamb kebabs, stuffed vegetables, and fresh seafood being popular.
The nightlife in İzmir is vibrant, with a variety of bars, clubs, and live music venues to choose from. In the historical city center of Alsancak multiple bars with lively music can be found. Furthermore, there are numerous Nightclubs and bars in other districts and regions.
Some of the top shopping destinations in İzmir include the Kemeraltı Market, a traditional open-air bazaar, and the modern Konak Pier Shopping Mall. Apart from these, there are a lot of high-end shopping malls in various districts of İzmir. Istinye park İzmir is the newest and most luxurious one. Real estate in this part of İzmir is in high demand because of this development.
İzmir has a long and rich history dating back to ancient times. It was founded by the ancient Greeks as Smyrna and has been an important port city for centuries.
One of the main reasons to purchase real estate in İzmir is the culture of İzmir. The culture of İzmir is a blend of Turkish and Mediterranean influences, with a rich tradition of music, dance, and arts.
The cost of living in İzmir is generally lower compared to other major cities in Turkey and Europe. The cost of Living in Izmir Updated in Dec 2022 was: Family of four estimated monthly costs are 1,323$ (24,658TL) without rent. A single person estimated monthly costs are 377$ (7,018TL) without rent. The cost of living in Istanbul is 32% higher in comparison with İzmir.
There are several festivals and events held in İzmir throughout the year, including the İzmir International Fair, the İzmir European Film Festival, and the İzmir Festival of Culture and Art.
Some interesting facts about İzmir include that it is home to the oldest known mermaid statue in the world, it has one of the oldest known agoras (public squares) in the world, and it is the birthplace of the philosopher Heraclitus.
İzmir is generally considered a safe city to visit, although as with any city, it is always a good idea to be aware of your surroundings and take precautions to protect yourself and your belongings. However, the crime rates in İzmir are much lower in comparison with Istanbul.