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Why is Ankara emerging as a prime destination for property investment in 2025? Is it the city's strategic location, the robust economic growth, or the affordability compared to other major cities? What are the key advantages for investors?
We get asked these questions all the time because we’re on the ground, working closely with developers, real estate agents, and investors like you. With so much interest in this market, we’ve decided to turn our individual answers into a comprehensive article for everyone to benefit from.
Our goal is to provide a clear case for investing in Ankara's real estate market, backed by our firsthand experience and market knowledge.
If you think we missed an important point in our content or want to know more, don’t hesitate to reach out (we answer super fast). Your feedback makes our content even stronger.
Finally, please note that this is not financial or investment advice. Investing in real estate carries inherent risks, and market conditions can change unexpectedly. We strongly encourage you to conduct thorough research and consult with a qualified financial advisor before making any investment decisions.
1) Urban renewal projects are boosting property values in older neighborhoods
Ankara's property values have skyrocketed thanks to urban renewal projects in 2023 and 2024.
These projects have transformed older neighborhoods, making them more attractive to both new residents and investors. As a result, house prices jumped by 94.3% year-over-year in October 2023. This surge shows how effective these urban renewal efforts have been.
Not only have property values increased, but the demand for housing has also risen. The modernization of these areas has led to a 97.7% increase in new dwelling prices in Ankara. People are eager to move into these revamped spaces.
Urban renewal isn't just about new buildings; it's about improving the whole neighborhood. These projects often bring better infrastructure and public amenities, making the areas even more appealing. This combination of upgrades has created a thriving environment for real estate investments, both residential and commercial.
Private developers are also playing a big role, pouring money into these projects. Their investments, along with the government's efforts, are turning these neighborhoods into vibrant communities. This partnership is a key factor in the ongoing rise in property values.
Sources: Global Property Guide, Asrin Grup
2) Ankara’s multicultural vibe attracts many expatriates
Ankara's vibrant multicultural environment is a magnet for expatriates, with 6.5% of its residents being foreigners as of 2023.
Thanks to this international influx, the city is a melting pot of cultures and traditions. The World Cultures Festival 2023 is a prime example, bringing together 55 countries to celebrate with traditional dances, music, and food. This event not only highlights Ankara's commitment to cultural exchange but also draws ambassadors and diplomats from around the world, creating a unique community vibe.
For those who love exploring new flavors, Ankara's dining scene is a dream. With cuisines from over 55 countries, expatriates can enjoy a taste of home or try something entirely new. This culinary diversity is a testament to the city's multicultural appeal.
Beyond food, Ankara is a hub for international business and diplomacy. The presence of multinational companies and embassies offers expatriates plenty of opportunities for work and social interaction, making it easier to settle in and feel at home.
Living in Ankara means being part of a community that celebrates diversity through various events and festivals. These gatherings not only showcase different cultures but also foster a sense of belonging among expatriates, making the city a welcoming place for newcomers.
Whether you're drawn by the vibrant festivals, diverse dining options, or international business opportunities, Ankara's multicultural environment offers something for everyone.
Sources: Turkish Statistical Institute, TRT World
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Turkey versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
3) With Ankara’s rich culture and history, you can easily rent out your property short-term to tourists
Ankara's cultural and historical sites are a major draw for tourists, boosting short-term rental opportunities.
In 2023, Ankara experienced a 7.1% increase in foreign visitors, welcoming 35.8 million tourists in just the first eight months. This surge is thanks to the city's rich cultural heritage and historical attractions, which captivate visitors globally. The Turkish government has been actively promoting Ankara as a must-visit destination, showcasing its cultural and historical gems through strategic marketing campaigns. This effort has paid off, as more tourists flock to the city, increasing demand for accommodations.
For those considering property investment, this means a golden opportunity. The influx of tourists looking for unique and convenient places to stay has created a thriving market for short-term rentals. Early bookings for 2025 already show a sustained interest in cultural trips, including gastronomic tours. This trend indicates that tourists are keen on staying near cultural and historical sites, which bodes well for the short-term rental market.
Despite current low occupancy rates, there's a clear potential for growth and investment in short-term rentals. The interest in Ankara's cultural significance is not just a passing trend; it's a growing movement. Tourists are increasingly drawn to experiences that offer a deeper connection to the places they visit, and Ankara's rich tapestry of history and culture provides just that.
Investors and property owners can capitalize on this by offering accommodations that cater to this demand. Whether it's a cozy apartment near a historical site or a stylish flat in the heart of the city, the opportunities are vast. As Ankara continues to attract more visitors, the short-term rental market is poised for expansion.
With the right approach, property owners can tap into this lucrative market, offering unique stays that enhance the tourist experience. The city's ongoing appeal ensures that the demand for short-term rentals will only grow, making it an exciting time for those looking to invest in Ankara's property market.
Sources: Hürriyet Daily News, WTTC, Xinhua News
4) Ankara’s central location in Turkey attracts business travelers who need places to stay
Ankara is a key destination for business travelers due to its central location in Turkey.
In recent years, business travel to Turkey has surged, with more professionals making multiple trips. This trend naturally benefits Ankara, as its central position makes it a logical stop for those traveling for work.
Turkey is hosting more international conferences and business events, drawing experts from around the world. Ankara often hosts these events, offering a convenient and strategic location for attendees.
Infrastructure improvements, like new airports and high-speed rail links, have made Ankara more accessible. These developments enhance the city's connectivity, reinforcing its status as a business hub.
For business travelers, Ankara's location offers easy access to other major Turkish cities. This connectivity is crucial for those needing to move quickly between meetings and events.
With its strategic position and improved infrastructure, Ankara is increasingly attractive to business travelers looking for convenience and efficiency.
Sources: Deloitte, All Conference Alert, HVS
5) With many embassies and consulates, Ankara has a strong demand for luxury rentals
Ankara is a hub for international embassies and consulates, making it a hotspot for high-end rental properties.
With around 117 foreign embassies and consulates in the city, there's a constant influx of diplomatic staff needing housing. These diplomats often have housing allowances, like the Overseas Housing Allowance (OHA), which lets them afford upscale living spaces.
This financial backing means diplomats can choose luxury apartments, especially those near embassies. These areas are popular because they offer secure and comfortable living environments, which are essential for diplomatic personnel.
In Ankara, real estate listings show that high-end properties in central locations can cost over $1,500 per month. These homes often come with amenities like 24-hour security and open parking, which are highly sought after by expatriates and diplomatic staff.
The demand is evident in the high occupancy rates in these neighborhoods, driven by the preferences of those working in embassies. This trend highlights the strong need for luxury accommodations among diplomatic personnel.
Sources: Embassies.net, Incirlik Air Base, Diplomatic Estate
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6) Properties near shopping centers in Ankara are becoming more desirable due to the growing retail sector
Ankara's retail scene is booming, making properties near shopping centers hot commodities.
In 2024, foot traffic and sales figures have surged, drawing more people to these bustling hubs. This uptick means properties nearby are catching the eye of potential buyers and renters who crave convenience.
The retail boom isn't just about food; non-food items like computers and telecom gear are flying off the shelves. This vibrant market activity is pushing up property values in areas close to these shopping centers, as people love having everything they need just a stone's throw away.
Consumer surveys reveal that younger folks, especially Gen Z, are keen on living near shopping spots. This trend, coupled with Turkey's expanding middle class, is fueling the demand for homes near these retail magnets.
Living near a shopping center isn't just about convenience; it's about lifestyle. People want easy access to the latest gadgets, fashion, and entertainment, making these areas even more appealing.
As Ankara's retail sector continues to thrive, the allure of properties near shopping centers is only set to grow, offering a blend of convenience and modern living.
Sources: Trading Economics, Statista, Exploding Topics
7) Being close to Lake Eymir boosts property values with great recreational opportunities
The city's proximity to natural attractions like Lake Eymir offers great recreational opportunities, boosting nearby property values.
In 2023, Gölbaşı, home to Lake Eymir, saw higher median property prices compared to other districts in Ankara. This trend indicates a strong appreciation rate, making it a hot spot for property investment. People are drawn to the area not just for the lake's beauty but for the lifestyle it offers.
Tourism in Turkey is booming, with over 1.7 trillion Turkish lira added to the GDP in 2023, thanks to attractions like Lake Eymir. This influx of visitors doesn't just boost the economy; it also raises property values in nearby areas. Buyers are increasingly looking for homes near recreational spots, seeking a better quality of life and easy access to outdoor fun.
Last year, Turkey welcomed over 49 million international tourists, many of whom flocked to natural attractions. This surge in tourism has a ripple effect on local property markets, especially in places like Gölbaşı. Real estate agents often point out the high demand for properties near Lake Eymir, thanks to its recreational appeal.
Properties around Lake Eymir are not just about the view; they offer a lifestyle upgrade. The area's natural beauty and recreational options make it a prime choice for those looking to invest in real estate. The demand is real, and the market reflects it.
So, if you're considering buying property in the country, keep an eye on areas like Gölbaşı. The combination of natural beauty and economic growth makes it a compelling choice for investment.
Sources: Wikipedia, Expedia, Properstar
8) As Turkey's capital, Ankara attracts many government employees who need housing
Ankara, as Turkey's capital, ensures a steady influx of government employees needing housing.
Being the hub of government and diplomatic activities, Ankara naturally draws in a large number of civil servants and professionals. This constant movement of government employees to the city creates a continuous demand for housing. In 2023, Ankara saw 9,048 housing sales, making up an 8.8% share of the overall market, highlighting the strong demand largely driven by these employees.
One of the reasons Ankara is appealing is its affordability. The cost of living here is much lower compared to Istanbul. For instance, the average monthly rent for a single person in Ankara is around ₺7,000, which is nearly half of what you'd pay in Istanbul. This makes Ankara an attractive option for those seeking affordable housing.
Property prices in Ankara have been on the rise. From January 2019 to April 2024, housing prices in Ankara province increased by an average of 81.49% in USD. Notably, 67.6% of this increase happened in the last two years alone, indicating a consistent appreciation in property values driven by demand from government employees and other investors.
For those considering buying property in Ankara, it's worth noting that the city's status as the capital means there's always a need for housing. This demand is not just from government employees but also from other professionals who are part of the city's vibrant community.
With its strategic importance and growing property market, Ankara offers a unique opportunity for potential buyers. The city's affordability, coupled with its steady demand for housing, makes it a compelling choice for investment.
Sources: Housearch, Turk Estate
We have made this infographic to give you a quick and clear snapshot of the property market in Turkey. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
9) Ankara is becoming more sustainable thanks to its investment in renewable energy projects
Ankara is becoming a greener city thanks to its investment in renewable energy projects.
By February 2024, Turkey's solar power capacity had surpassed 12,000 MW, marking a rapid growth in just a few years. This is part of a larger vision to expand solar energy to 52.9 GW by 2035, showing a strong commitment to sustainable energy solutions.
In early 2024, more than 51% of Turkey's electricity production came from renewable sources. This shift is crucial for reducing reliance on fossil fuels and lowering carbon emissions, making the environment cleaner and healthier.
Government policies are a driving force behind this green transition. Turkey plans to add 2,000 MW of new renewable energy capacity every year until 2035 through auctions. This strategy is designed to attract global investment and further boost the renewable energy sector.
These efforts are part of a broader target to increase the installed capacity of renewable energy by 5,000 MW annually, with a strong focus on solar and wind energy. This ambitious plan is set to transform the energy landscape in Turkey.
Sources: Hurriyet Daily News, AGBI Renewable Energy Report, AA Energy Report
10) Ankara’s vibrant festivals make it easy to rent out your property short-term
Ankara's local festivals and events have been creating a lively atmosphere, especially noticeable in the past few years.
In 2023, 161 impactful events in Ankara drew in over 43,000 people, according to PredictHQ. This influx of visitors naturally boosts the demand for short-term rentals as people look for convenient places to stay during these events. Imagine the city buzzing with excitement, as tourists flock to experience the vibrant culture and festivities.
While we don't have specific data for Ankara's short-term rentals, we can look at trends from other cities to get a sense of what's happening. In places like Glasgow, hotel room rates and occupancy rates rise significantly during major events. This suggests that similar dynamics are likely at play in Ankara, where festivals and events lead to increased demand for accommodations.
The economic impact of these festivals is substantial. PredictHQ's insights into Ankara's events highlight a significant spend during festival periods, which not only benefits the local economy but also drives up the need for short-term rentals. This economic activity is a clear indicator of how festivals contribute to a vibrant atmosphere, attracting more visitors and increasing the demand for places to stay.
Picture the streets filled with music, food stalls, and cultural performances, creating an irresistible draw for tourists. This lively scene not only enhances the city's appeal but also makes it a hotspot for short-term rental opportunities. As more people visit, the demand for convenient and comfortable accommodations naturally rises.
So, if you're considering investing in property in Ankara, these festivals and events could be a golden opportunity. The city's dynamic atmosphere and the influx of visitors during these times make it an attractive option for those looking to tap into the short-term rental market.
Sources: PredictHQ, Beyond Pricing, MyLighthouse
11) Ankara's universities draw students nationwide, boosting demand for rental properties
Ankara's universities are bustling with students, creating a lively demand for rental properties.
With 28,757 students enrolled at Ankara University, the city is a hub for young academics. Many of these students prefer to live off-campus, as on-campus housing is limited. For example, AYBU offers private dorms for visiting students, showing a clear trend towards off-campus living.
Students often choose off-campus housing for its affordability and better amenities. This isn't just an Ankara thing; it's a common choice worldwide. The city's universities attract students from across the country, creating demand for rental properties.
Investors are taking note, as rental yields in Ankara have been around 8.19% recently. This high yield indicates a strong demand for rental properties, largely driven by students looking for convenient housing near their schools.
Living off-campus gives students more freedom and often better facilities, which is why many opt for it. This trend is supported by the fact that private dorms and apartments are in high demand, especially near university areas.
For property investors, this means a steady stream of potential tenants. The student population is a reliable market, ensuring that rental properties remain a sound investment in Ankara.
Sources: Ankara University Enrollment, Off-Campus Students’ Housing Preferences, AYBU Accommodation, Ankara Rental Yields
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12) With the expanding public transport, property values in newly connected areas of the city are rising
The city's public transportation network is expanding, boosting property values in newly connected areas.
In Ankara, the metro system has been growing since 1997, and areas like Kizilay and Batikent have seen significant property value increases thanks to better connectivity. This isn't just happening in Ankara; it's a global trend. For example, in New York City, the Second Avenue subway line led to a 4.6% rise in median list prices for homes near transit stops. People love homes with good transit access, which pushes prices up.
In Ankara, the improved public transportation links, like the Ankara Metro Project, aim to cut down traffic and make suburban living more appealing. This means shorter commute times and more desirable properties in places like Batikent. Real estate agents are noticing more interest in areas near new transit lines, such as Eryaman, which is known for being modern and family-friendly.
Buyers are increasingly drawn to properties with easy access to public transport, and this is driving demand and prices higher. In Ankara, the metro expansion is making suburban areas more attractive, offering a blend of convenience and lifestyle. The Eryaman area, for instance, is seeing a surge in interest due to its proximity to new transit lines and its appeal to families.
As the city's public transportation network continues to grow, property values in newly connected areas are expected to keep rising. This trend is not just about convenience; it's about transforming how people live and work, making suburban areas more viable for those who want to escape the hustle and bustle of city life.
Sources: Railway Technology, Construction Dive, Expat.com
13) Ankara’s tech boom attracts young professionals seeking modern homes
Ankara's tech industry is booming, drawing in a wave of young professionals.
In recent years, the city has become a magnet for tech talent, with major players like Microsoft and Amazon expanding their operations here. This growth is creating a vibrant tech scene, attracting ambitious individuals eager to advance their careers. As a result, the city's demographics are shifting, with more young professionals calling Ankara home.
These newcomers are not just looking for jobs; they want a lifestyle that matches their modern, tech-driven careers. Surveys reveal that tech workers prefer contemporary housing with all the modern amenities. They want to live close to their workplaces, making tech-centric neighborhoods particularly appealing.
The demand for such housing is on the rise, as these professionals seek out homes that offer convenience and style. This trend is reshaping the real estate market in Ankara, with developers focusing on creating living spaces that cater to this tech-savvy crowd.
As the tech industry continues to grow, so does the need for skilled workers. By 2025, 50,000 new tech jobs are expected to be created, further fueling the demand for modern housing. This influx of talent is not just changing the job market; it's transforming the way people live in Ankara.
For those considering a move to Ankara, the city's evolving landscape offers exciting opportunities. Whether you're drawn by the career prospects or the chance to live in a dynamic, tech-focused environment, Ankara is becoming a top destination for young professionals.
14) Ankara’s mild climate makes it a comfortable choice for retirees looking to settle down
Ankara's climate is milder compared to coastal cities, making it a top choice for retirees.
With temperatures ranging from 0.5°C in January to 23.7°C in August, Ankara offers a stable climate. This consistency is appealing, especially when compared to places like Istanbul, where temperatures can swing more dramatically.
Retirees are increasingly drawn to Ankara, even though specific numbers aren't available. The overall rise in retirees across Turkey hints at a growing interest in Ankara as a retirement spot.
The real estate market in Ankara is buzzing, with 114,432 property sales in 2023. This activity suggests that many, including retirees, are eyeing the city for its appealing climate and affordable living costs.
Compared to coastal cities, Ankara's lower cost of living is a significant draw. This financial advantage, combined with its mild weather, makes it an attractive option for those looking to settle down comfortably.
For those considering a move, Ankara's blend of affordability and climate stability is hard to beat. The city offers a unique balance that appeals to many potential residents.
Sources: Climates to Travel, Xinhua News, Property Turkey
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.