Making a Real Estate Investment in Izmir? A Value Play within Turkey

Why invest in Izmir real estate

• Izmir is a large, diversified city with a growing economy, not heavily dependent on tourism
• It offers much better value compared to Istanbul or Antalya
• Few foreign buyers so far, providing an opportunity for value
• Well-connected with a new airport and frequent flights to Istanbul

Potential Downsides

• Earthquake risk, though new buildings follow strict regulations
• Turkey's economic and geopolitical challenges

The Izmir Housing Market

• Prices per sq.m. are about 40% lower than Istanbul
• Cash transactions are common, with some prices indexed to USD

Promising Neighborhoods for Investment

• Karşıyaka: Pleasant area with higher-income residents
• Alsancak: Lively center, good for short-term rentals
• Karatas/Konak: Reasonable prices, good connectivity
• Bayrakli: Offers sea views at reasonable prices
• Narlidere and Balcova: Expanding, quiet, premium areas

Example Investment

• 70 sq.m. apartment in Karatas
• Purchase price: $130,000 all-in
• Potential net rental yield: 5%

Who is this right for?

• Those seeking Turkish real estate investment at better value than Istanbul or Antalya
• Investors interested in the Turkish Citizenship by Investment program