Why People Buy Property in Trabzon
In the world of international real estate, property in Trabzon is the rising star. Once a neglected destination with a stagnant housing market, it has risen the ranks to become one of the most desired areas to buy property in Turkey, especially for Middle-Eastern buyers.
Sitting in northeast Turkey, over the years, it received a small trickle of tourists who wanted to see the famous Uzungol site and experience the spring waters of Ayder plateau. Yet, the growing interest in owning real estate in Trabzon has also boosted its tourism market, especially with buy-to-let rental properties and these days, that small trickle of tourists has turned into thousands. But what are the reasons Trabzon took off and is the trend here to stay?
Why People Buy Property in Trabzon
1: Affordable Prices
Trabzon offers some of the lowest prices per square meter on the Turkish real estate market. The reason being is that the whole district was a latecomer to modernising their housing market, so it is still in its infancy of success. The delay also means there is a tremendous amount of land available for building, and this in turns is keeping prices down.
What does this mean for property owners? Well, this reason is why Trabzon has captured the attention of real estate investors looking for a mid to long term capital appreciation. If increasing your net worth is your focus for buying property, Trabzon delivers the perfect location to do this.
2: Citizenship by Investment Scheme
The Turkish housing market received a boost when it dropped the minimum entry-level of its citizenship by investment scheme from 1 million USD to 250,000. The system which gives holders the same right as Turkish citizens appeals to Middle Eastern buyers. When ranking alongside other passports via property investment programs in places like Portugal, the Turkish version has a much easier and quicker approval time.
Often called Golden Visas schemes, an article by Middle East Eye in July 2019 revealed 1000 people were approved in the first ten months of the new updated process, and 1700 applications were being processed. Property buyers need only keep their investment real estate for three years to be eligible, and this is attracting many nationalities from around the world.
3: Lucrative Exchange Rate
Another big lure for many property buyers of various nationalities is the lucrative exchange rate. Hovering around 6 lira to the dollar, it took a nosedive a few years back when the economy suffered some setbacks. The result is house buyers were quid’s in. Experts and financial advisors also say the current exchange rate is here to stay for quite a while hence, buyers grab some excellent bargains when comparing the prices to their home country currency.
4: Selling Power
Ask any savvy real estate investor for tips on making the right purchase, and they will tell you to assess the market liquidity. For everyone, there may come a time, when we need to turn our bricks and mortar investment back into hard cash. Trabzon ranks as one of Turkey’s most popular markets for foreign buyers, making it high liquidity with international house buyers. Add this to its domestic audience, and you have the perfect market for a wise investment.
5: Similarities in Culture
Trabzon has soared in popularity with many nationalities from GCC countries, and the reason is simple. Coastal holiday resorts along the Aegean and Mediterranean adopt a westernised approach and appeal to Europeans.
However, Trabzon has kept its conservative outlook and this appeals to a different clientele. Restaurants in the south and west coast, serve a multitude of cuisines, but traditional cuisine makes a roaring trade in Trabzon. Nightlife is also family orientated, which appeals a lot to GCC nationalities.
6:The Scenic Landscapes
Although most people think of the city, when hearing the name Trabzon, it also refers to the larger district comprising many small villages. They extend inland into the Kackar mountain range, that holds some of Turkey’s most beautiful landscapes.
Often compared to the rolling hills of Switzerland, plateau culture is an integral part of life and during summer, locals and holiday homeowners retreat to places like Uzungol. This lake, surrounded by green hills, makes a roaring trade in tourism and provides the perfect weekend or 2-day getaway. Other plateaux are also rising in popularity as more homeowners adopt the plateau migration tradition.
Property Trends: Villas and Apartments
There are two easy to spot trends in Trabzon’s real estate market. The first is private detached villas that often boast of a sea view thanks to the elevated land status they sit on. Often featuring private landscaped gardens and an individual or communal pool, the architecture is styled in such a way to make use of surrounding landscapes, often with floor to ceiling windows and large balconies and terraces.
Separate kitchens and open plan living and dining rooms complete the main ground floor, while bedrooms, sometimes with ensuite, occupy the other storeys. Villas occupy the top end of the market, while the bottom end focuses on apartments on lifestyle residences.
Ranging from one to five bedrooms, each owner pays a maintenance fee towards upkeep of communal areas like gyms, saunas, Turkish bath, and swimming pools. These types of property often attract families thanks to the massive range of children activities like basketball courts, and kids’ rooms. You can see property listings for Trabzon here. Each one includes price, location details, and key features that home. Just use the enquiry form to find out more or arrange a viewing.
Nice to Know About Trabzon
Getting here is easy because it has its airport with international and domestic flights that connect it with Istanbul. Many people also arrive via the northeast road connecting it with the Georgian border.
Major touristic sites include Ataturk house, named after the Turkish Republic’s founder and the Hagia Sophia, not to be confused with the building of the same name in Istanbul. Out of all of them though, it is Uzungol and the 4th-century Sumela Monastery in the Macka National Park that command the most respect.
Whether you are searching for property in Trabzon or plan to visit, a must-try is the regional cuisine that includes delights like Hamsi, and Mahluma, a cheese type fondue. Trabzon is also famous as the top exporter of hazelnuts in Turkey. Find out more hints, tips and advice on making the most of your time there, in our Trabzon travel guide.
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