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Breaking Down the Cost
of Building a House in Turkey in 2024
- Updated on May 11, 2024
- Kourosh Soleymani
- 2 Comments
The cost of building a house in Turkey
Thinking of building a house in Turkey? It can be a fantastic way to create a custom home that fits your style and budget.
The cost of building a house in Turkey in 2024 typically ranges between $200,000 and $250,000. This range represents a general starting point for building a house in Turkey. The price can be influenced by many factors.
This guide will break down the key factors affecting the cost of building a house in Turkey and provide you with a realistic idea of the investment involved.
You can also explore our extensive listings of turkey property for sale
Average Construction Costs Per Square Meter in Turkey
Size and Design: The size of your house (square meter) and the complexity of the design will significantly impact the overall cost of building a house in Turkey. Building a simple 200-square-meter house will be considerably cheaper than a sprawling villa with intricate details.
Location: Land prices vary depending on the region. Coastal areas like Antalya tend to be more expensive than smaller cities.
| City | Price Per m2 |
|---|---|
|
Istanbul |
$450 |
|
Ankara |
$250 |
|
Antalya |
$300 |
|
Alanya |
$280 |
|
Bodrum |
$400 |
|
Izmir |
$350 |
|
Kocaeli |
$200 |
Construction Class: Turkey uses a class system (Simple to luxury) to categorize construction quality. Higher classes involve better materials and finishes, leading to a higher price tag.
| Construction Class | Average Construction Costs Per m2 |
|---|---|
|
Simple Construction |
$470 |
|
Class 3 Construction |
$520 |
|
Class 2 Construction |
$650 |
|
Class 1 Construction |
$720 |
|
Luxury Construction |
$800 |
Construction material
Materials: The type of materials you choose for your house will influence the cost of Building a House in Turkey. Stone or wood construction can be more expensive than concrete or brick.
| Construction Material | Cost for Construction Per m2 |
|---|---|
|
Steel |
$300 |
|
Concrete |
$90 |
|
Wood |
$200 |
|
Stone |
$250 |
|
Bricks |
$70 |
|
Aerated Concrete |
$90 |
|
Reinforced Concrete |
$120 |
Additional Costs to Consider when assessing the Cost of Building a House in Turkey
- Land Price: This can vary greatly depending on location and size. Budget anywhere from $50,000 to $200,000 for the land itself.
- Architect Fees: Expect to pay 3-4% of the construction cost for architect fees.
- Contractor Fees: Contractors typically charge 20-30% of the total construction cost.
- Permits and Local Fees: Building permits and local fees can add 1-2% to the total cost of building a house in Turkey.
- Other Costs: Factor in excavation costs, mechanical, electrical, and plumbing (MEP) work, finishing touches (painting, flooring and etc.), fixed furniture, landscaping and unforeseen expenses.
| Other Costs | Average Cost |
|---|---|
|
Excavation |
$4,500 |
|
Mechanical |
$30,000 |
|
Electrical |
$20,000 |
|
Plumbing |
$15,000 |
|
Final Touches (Fit-out) |
$50,000 |
|
Landscaping |
$10,000 |
|
Site Preparation & Clearing |
$3,000 |
|
Foundation Work |
$7,000 |
|
Structural Framing |
$25,000 |
|
Exterior Finishes |
$20,000 |
Cost of Building a house in Turkey vs. Buying
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Cost of Building a house in Turkey can be significantly cheaper than buying a ready-made villa or house, especially for larger properties. You can potentially save 40-60% by building your dream home from scratch.Do you want to know the risks of buying a property in Turkey?
How Long Does It Take to Build a House in Turkey?
Knowing how long it takes to turn your dream into a brick-and-mortar masterpiece is another key factor when assessing the cost of building a house in Turkey
the timeframe can vary depending on several key ingredients:
The Size and Complexity of Your Project
A quaint bungalow will naturally take less time to build than a sprawling villa with intricate details. Plan on a shorter construction period for simpler designs.
Location
Obtaining permits and navigating local regulations can differ between bustling city centers and relaxed coastal towns. Factor in potential location-specific delays.
The Efficiency Machine
A skilled and experienced construction company with a well-oiled building process can shave weeks, if not months, off the timeline compared to a less streamlined team.
The Weather Whisperer
While Turkey boasts a mostly pleasant climate, adverse weather conditions like heavy rain or snowfall can disrupt construction and add unforeseen delays.
The Paper Chase
Securing building permits and necessary licenses can take time. Patience is key during this bureaucratic phase.
A Realistic Roadmap
With these factors in mind, here’s a general timeframe to consider
6-12 Months: This is a realistic range for a smaller, straightforward house with a competent construction team and a smooth permitting process.
12-18 Months: Expect this timeframe for more complex projects, larger homes, or situations with unforeseen complications.
Cost Comparison of Building vs. Buying a House in Turkey (2020-2024)
Over recent years, the trend in property prices in Turkey has been generally ascending. This upward trajectory is attributed to several factors including economic growth, increased foreign investment, and a strong tourism sector. The following chart summarizes the average price trend for houses in Turkey from 2020 to 2024
Cost Comparison of Building vs. Buying a House in Turkey (2020-2024)
Return on Investment After Building a House
Quick ROI After Selling a Built House
The timeframe for seeing a return on investment can be quite short, especially in favorable market conditions and prime locations. Quick ROI can be expected particularly in high-demand areas and with quality constructions.
Factors Influencing Faster ROI
Several key factors can accelerate the return on investment:
- Prime Location: Properties in sought-after locations like Istanbul or tourist-rich areas such as Antalya.
- Superior Construction Quality: High-quality constructions attract quicker sales at better prices.
- Optimal Market Timing: Selling during high demand periods significantly boosts ROI.
- Strong Economic Indicators: Healthy economic conditions enhance property value appreciation.
Comparing Quick ROI for Constructed Houses in Different Cities
| City | Estimated ROI Timeframe |
|---|---|
|
Istanbul |
2-3 years |
|
Ankara |
3-4 years |
|
Antalya |
1-2 years |
|
Alanya |
2-3 years |
|
Bodrum |
1-2 years |
Istanbul: A bustling metropolis with continuous growth, Istanbul provides a promising ROI within 2-3 years due to its high market demand and robust economic dynamics.
Ankara: As the capital city, Ankara attracts steady interest from investors with an ROI potential within 3-4 years, supported by governmental and infrastructural developments.
Antalya: Known for its vibrant tourism sector, Antalya offers one of the quickest ROI potentials, typically ranging from 1-2 years. The city’s appeal to tourists and expatriates enhances its real estate market significantly.
Izmir: This city is increasingly attractive to both domestic and international buyers, facilitating an ROI within 2-3 years. Izmir’s growth is fueled by its cultural richness and strategic coastal location.
Bodrum: A prime location for luxury real estate, Bodrum sees a rapid ROI in just 1-2 years, driven by high seasonal demand and a preference for high-end properties.
Comparing Quick ROI for Houses of Different Construction Classes
| Construction Class | Estimated ROI Timeframe |
|---|---|
|
Simple Construction |
3-4 years |
|
Class 3 Construction |
2-3 years |
|
Class 2 Construction |
1-2 years |
|
Class 1 Construction |
1-2 years |
|
Luxury Construction |
1 year or less |
Simple Construction: This category promises a solid ROI within 3-4 years, offering a cost-effective entry into the market with steady appreciation, making it ideal for budget-conscious investors.
Class 3 Construction: With an ROI timeframe of 2-3 years, Class 3 properties strike a balance between affordability and desirability, appealing to a broad segment of the housing market.
Class 2 Construction: Properties in this class are highly sought after, yielding a quick ROI in 1-2 years due to their superior construction quality and strong market presence.
Class 1 Construction: Attracting affluent buyers, Class 1 houses facilitate a rapid return, typically within 1-2 years, thanks to their premium features and prime locations.
Luxury Construction: The fastest return is seen in the luxury segment, often within a year or less, driven by high demand among elite buyers and the highest appreciation rates in prime markets.
Building a house in Turkey can be a rewarding experience, allowing you to customize your living space. By carefully considering the cost factors and planning your budget effectively, you can turn your dream home into a reality. Remember, consulting with a professional construction company can provide you with the most accurate estimates Cost of Building a House in Turkey for your specific project.
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Hi, I’m considering buying property in Turkey, but I’ve heard that construction costs have increased recently. How might this affect the prices of new homes? Can you help me find affordable options?
Hi Emily! Thanks for your question. The recent increase in construction costs can impact the prices of new homes, potentially making them more expensive. However, at Homes Gravity, we specialize in finding the best deals for our clients. Our team has a deep understanding of the market and can help you identify properties that offer great value for your investment. We are here to guide you through the process and ensure you find an affordable option that meets your needs. Feel free to reach out to us for personalized assistance. We’re here to help you every step of the way!