Ankara is chosen by the Turks themselves
In terms of housing sales, Ankara traditionally ranks second in Turkey, behind another influential metropolis, Istanbul. Thus, according to the Turkish Statistical Institute, in 2022, 126,166 contracts were concluded in the official capital of the Turkish Republic, which is more than in other places of the country, but less than in the famous city on the Bosphorus. The ratio remains the same this year. So, in September 2023, Ankara's share in the total volume of transactions is 8%, Istanbul's share is 15%.
Main buyers housing in Ankara – Turks themselves. She has not yet received proper attention among foreigners. Foreign investors prefer provinces on the coasts of the seas: Antalya, which includes Alanya, Istanbul, as well as Mersin, which lies east of Alanya and is gaining popularity among investors. These regions are respectively on the first, second and third lines in terms of the number of transactions with non-residents.
However, if you do not take into account the location inland away from the big water, in many other aspects Ankara has an advantage even over Istanbul. The capital region is worth considering both for those who plan to move and for those who have an investment goal.
About the city
Ankara is the political and business center of Turkey, the first in size and the second in population in the country (more than 6 million people).
Historical background
It is noteworthy that this city, spread out on the hills of Central Anatolia, is older than Istanbul, famous for its history, it is almost 2,700 years old. The first fortified settlement, which is known to historians, was presumably founded in these places by the Hittites and was called Ankuvash. The Hittites were followed by the Phrygians. By order of King Midas, the city of Ankyra was built here (from the ancient Greek "anchor"). In the 1st century BC, the Roman period of history began. Emperor Augustus captured the city and made it his residence. After the collapse of the Roman Empire, these territories became part of Byzantium for several centuries. In 1073, Ankira came under the rule of the Seljuk Turks. Even the powerful fortifications erected by them and their predecessors, which have been well preserved to this day, did not help the Byzantines to defend the city.
During the Ottoman Empire, the city played an important role due to its location at the intersection of trade routes, but gradually lost its importance and by the beginning of the 19th century it had become quite provincial. A new impetus to development was given by the construction of the Anatolian Railway in the middle of the 19th century, which connected Angora (then the city was named that way) with Istanbul. However, the main turning point happened already at the beginning of the 20th century. Ankara became the headquarters of the national resistance movement led by Mustafa Kemal Ataturk, and in 1923 the president of the young Turkish state moved the capital here. Since that time, Ankara has begun to transform, and numerous new government and public buildings have appeared.
There are many historical and cultural attractions in Ankara: the Ankara Fortress (Ankara Kalesi), the Ataturk Mausoleum (Anytkabir), the Kojatepe Mosque, the Atakule Tower. There is a Museum of Anatolian civilizations and an Ethnographic Museum.
Infrastructure
Administrative and government offices, embassies of 135 countries are located in the capital (for comparison, there are 73 in Istanbul).
There are 24 international universities in Ankara, 10 of which are state-owned. The most famous universities are Bilkent and Middle East Technical University, as well as Gazi University, Ankara University, Hacettepe University, which has one of the best medical faculties in the country.
What is especially important for foreigners, there are many international schools in the city with teaching in English, as well as Arabic, French, and German. There are also Russian schools.
The most prestigious international educational institutions in the capital: Oasis in Gelbashi, BLIS (at Bilkent University), the private higher scientific school of the Gazi University Foundation, the School at the British Embassy, American schools.
Transport
Ankara is very conveniently located in the center of the country, from here it is easy to get to any corner of Turkey.
The transport infrastructure of the capital level: airport, railway, intercity and city buses, metro.
The subway in Ankara was opened not so long ago, in 1996. It covers the territory unevenly, since the landscape does not allow tunneling everywhere. For this reason, there are many stations in the north and west of the capital, while there are practically none in the south and east. An alternative to underground – ground transportation: buses and dolmushi (minibuses).
It should be noted that the roads in Ankara are not overloaded. There are traffic jams, but quite rarely.
Climate
Ankara has a temperate continental climate. It is very different from the Mediterranean one. It is hot and dry here in summer, and cold in winter, it often rains, and snow falls periodically. In July and August, the temperature can rise to + 30 °C, and in January it can drop to -10 °C.
There is no such heat and humidity in these places as in the south of Turkey, so it is more comfortable to be in the city.
Ankara districts and real estate prices
Ankara is a large, diverse city with wide avenues and minarets of mosques towering over the red roofs of houses.
Real estate prices, as in Istanbul, vary significantly depending on the area and even depending on the location within the same area. A small ready-made apartment in Ankara can be bought at a price of $50,000 - 55,000.
There are not too many elite offers on the market, but, nevertheless, they are there. Modern new villas in an elite village in a prestigious location cost from $500,000 - 600,000.Chunky The heart of the capital, the central business district. There are government offices, museums, theaters, the National Library, a hospital, a park, schools, 4 universities, including Chankai University, Ankara University, Gazi University, Middle East Technical University, shopping malls, as well as numerous restaurants and cafes. This place is great for both students and families. Many consider it the best place to live in Ankara.
Chankaya is a fairly large area consisting of many neighborhoods. Old buildings prevail, but there are also new buildings. The locations differ from each other, you can find both luxury apartments and budget real estate here.
Those who are considering buying a home should pay attention to the newly commissioned new building in Chankaya. Apartment (3 bedrooms)A view of the Atakula costs only $109,574. For comparison, in Istanbul, for such an amount, you can buy a very compact apartment in a not very successful area.
The Yenimahalle area and the area along Eskisehir Road have recently become popular with investors. The reason is the proximity to the campuses of the Middle East Technical University, Bilkent, Bashkent and Hadjettepe University. Modern residential complexes are being built here, including those aimed at wealthy buyers. Chaiola and Bakhchesehir are especially promising. Business and urban recreation centers with prestigious offices, luxury shopping and entertainment complexes are being formed in these places.
Ankara is actively expanding to the west. For this reason, investors should take a closer look at the developing area These words are.
The next area after Etymesgut in the western direction is Sinzhan.
The construction of a new elite complex with an outdoor and indoor swimming pool in a location with well-developed infrastructure has recently been completed in Sinzhan. The 4-bedroom apartment is offered for $278,723. It is suitable for obtaining a residence permit under the new rules (adopted from October 16, 2023).
The Gelbashi area has a lot of fans. Firstly, it is located next to Chankai with all its features. Secondly, it is famous for its beautiful nature and calm, peaceful atmosphere. While living in Gelbashi, you can have a nice time walking near the lakes Eimir and Mogan or jogging in the nearby forest parksAtaturk Park and Mogan Park. The latter is much more modest in size, but also very picturesque.
Pursaclar An area that is notable for its proximity to the airport. There are 2 parks, 2 hospitals nearby.&Many modern residential complexes are being built in this location.
Furnished apartment of 65 sq. m (1+1) a multi-storey building under construction in Pursaklar costs $112,766.
There are also more budget proposals in the area. For example, 2-bedroom apartment in a two-block complex is listed for $79,787.
Mamak is suitable for those who are looking for affordable housing. This area is actively developing and promising for investment.
Ankara is a much more affordable city to buy a home than Istanbul, Antalya and Alanya. According to the real estate appraisal company Endeksa for August 2023, the average cost of an apartment in Ankara is 2.32 million liras. This is 73% less than in Istanbul and almost 70% less than in Antalya. At the same time, the capital is ahead of both Istanbul and Antalya in terms of annual price growth in lira.
The pros and cons of Ankara
The obvious advantages of the Turkish capital include:
- Excellent infrastructure at all levels and directions
- A milder climate for life than off the coast
- A measured rhythm of life compared to Istanbul. There is no fuss and a large influx of tourists
- Location in the center of the country and easy access to any region
- The cost of real estate is much lower
- Lower cost of living
The last point in numbers (source: Numbeo)
- Consumer prices in Ankara are 11.4% lower than in Istanbul (excluding rent)
- Rental prices in Ankara are 37.6% lower than in Istanbul
- Prices in Ankara restaurants are 25.2% lower than in Istanbul
- Food prices in Ankara are 5.9% lower than in Istanbul
The main drawback in the representation of foreigners is that the capital of Turkey is not located off the coast, unlike Istanbul, which lies on the shores of three seas and a strait at once. However, it is worth noting that the remoteness of Ankara from the resorts is very comfortable in order to go on a beach vacation for a few days if desired. So, the Black Sea can be reached by car in just 4-5 hours (400 km). The Mediterranean Sea is a little further away, 500 km away.
Recently, the demand for Ankara as a destination for urban tourism has been gradually growing. It is common to purchase apartments in the center for subsequent daily rental. However, there is certainly no such demand for short-term rentals as in resort towns. It should be noted that Turkish legislation regarding the rental of housing for tourists is being tightened. It is not yet clear what opportunities and limitations will open up to investors in light of the latest changes.
The disadvantages of Ankara that are important for visitors should also include the fact that few of its residents speak English or Russian. Without knowledge of Turkish, it will be quite difficult to solve everyday issues here.
One more point – since Ankara is a non-tourist city, there is no practice of double prices – for locals and for foreigners – as is customary at resorts. This is, of course, a plus, on the one hand. But, on the other hand, locals are not so willing to rent housing to foreigners, they prefer to deal with compatriots.
Ankara is not the most obvious choice for a real estate investor in Turkey. However, upon closer examination, the advantages of the region probably outweigh the disadvantages.
More recently, after this material was prepared, important changes have taken place in Turkish legislation directly related to the real estate market. Firstly, the threshold for the cost of housing for obtaining a residence permit based on the purchase of real estate was raised to $ 200,000. Secondly, strict requirements have been introduced for renting an apartment or house for short-term rent. Both of these factors will obviously affect the situation, and they must be taken into account when choosing a place and object to buy.
Thank you for your help in preparing the material:
Aysun Tekche, Marketing Director, and Ugura Dagtepesi, Assistant Brand Manager, companyTekce Overseas(Antalya Homes)
