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BLOG Why the Bursa Property Market Attracts Foreign Buyers

13 September 2022 / Properties


Bursa Property Market

When Turkey releases yearly house sales stats for foreigners, the Bursa property market consistently ranks as a top ten destination. Although Bursa is firmly engrained in Turkish history and culture and always commands respect among Turkish communities, it remained off the grid of foreign house sales for decades. Instead, various nationalities flocked to other destinations like Istanbul for investment and Turkey's Aegean and Mediterranean coasts for retirements and holiday homes.

However, ten years ago, Bursa started rejuvenating the housing market with new, stylish apartment complexes and private villas. This immediately captured foreign buyers' attention as an alternative destination to invest in bricks and mortar. But what exactly is Bursa's housing market doing differently from other locations?

                                         Why the Bursa Property Market Attracts Foreign Buyers

1: Price Comparisons with Istanbul

Bursa sits roughly 2-hours drive from Istanbul, Turkey's bustling economic hub. So naturally, as with any major global city, house prices are at an all-time high in Istanbul and won't slow down. So for investors, without this financial advantage, Bursa offers more affordable prices but easy access to Istanbul's delights. In some cases, the same square meterage costs three times less in Bursa than in Istanbul, thus giving significant savings.

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2: Quality Décor and Design

So, some property buyers think lower prices mean lower quality, and you couldn't be more wrong. Developers in Bursa are coming out on top when constructing quality houses with modern décor and design. These lake view apartments (reference number 5507) perfectly reflect this. Apartments offer video intercom systems, fully fitted modern kitchens, central heating systems, and tiled modern bathrooms. Also, homeowners can enjoy delightful lake views from the balcony or terrace. The bonus is that buyers can tailor décor and designs to their desires when purchasing an off-plan property. These apartments are just a snippet of the quality offered on the Bursa housing market.

3: Robust Tourism Industries

For buy-to-let investment for holiday rentals, Bursa fits the bill. UNESCO World Heritage Sites in Bursa bring international tourists to see Ottoman-style architecture from bygone eras. Notable landmarks include Orhan Gazi's tomb in Tophane Park, Yesil Turbe and Hudavendigar's Turkish bath, and the 15th century Ulu cami, famed for the twenty domes and calligraphy wall inscriptions. The exterior and interior Ottoman and Seljuk architecture feature a large fountain and pool under the central dome. This mosque is one of Turkey's most iconic and is a notable tourist attraction for Bursa and a prominent place of worship.

4: Uludag Mountain

Bursa's winning hand is Uludag mountain. Urban legends say this is where gods watched the trojan war, but in modern-day times, Uludag mountain is one of Turkey's top skiing spots. This provides another tourism advantage for those investing in buy-to-let properties. The mountain is Bursa's leading leisure destination. Locals go skiing in winter, and once the snow falls away, enjoy the great outdoors from Spring to Autumn. Uludag Ski Centre, covering Fatintepe and Kusaklikaya hills, is 30 minutes from Bursa city centre. Although already loved by Turks, yearly, more foreigners are flocking to Uludag.

5: Other Leisure Destinations

Bursa locals love UNESCO Cumalikizik because of its old Ottoman houses in which rustic restaurants serve traditional Turkish village breakfasts. Bursa also hosts thousands of visitors yearly, who flock to take advantage of the hot springs and spa centres. Prominent places include Gemlik, Eski Kaplica , Kaynarca, Ceikerge, Yeni, Mustafa Kemal Pasa, Inegol, and Orhangazi. Other places of natural beauty include Saitabat waterfall, just 12 kilometres from the city centre, while Iznik and Ulubat lakes provide the perfect scenic backdrop.

6: Transport Connections to Istanbul

There are no trains from Bursa to Istanbul, and bus services often end up in heavy traffic the closer you get to Istanbul. For this reason, people use the ferry services. These fast and efficient services run from the Mudanya and Guzelyali areas. In addition, there are good ferry connections to the Yalova area and Sabih Gokcen airport. So, getting to Istanbul is quickly done, but Bursa does provide everything you want for modern living.

7: Cultural Identities

Bursa's old-world charm captivates everyone. Vibes reminisce of old Ottoman empire days. Bursa was their first ruling capital before they invaded Constantinople. This dynasty was undoubtedly one of the world's most famous and ruled many lands, so to buy property here is a nostalgic beginning to unique cultural identities. Additionally, whereas Turkey's Aegean and Mediterranean coasts focus on westernised social cultures, Bursa stands out for Middle eastern buyers because of its traditional Turkish vibes.

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8: Mudanya Beach District

Mudanya is known for fishing, old ottoman houses, and olive oil production and is where Turkey, France, Italy, and Britain signed the Mudanya Armistice on October the 11th, 1922, after the Turkish war of independence. Turks from Istanbul who want summer or retirement homes often buy in Mudanya because of the transport connections and surrounding landscapes of natural beauty.

9: Easy Buying Process and Low Purchasing Costs

While some countries make foreign house buyers jump through hoops to buy property, Turkey makes buying property easy. Property buyers receive title deeds in as little as seven days if finances and legal paperwork are in order. Additionally, purchasing costs like solicitors, land registrar fees, taxes and salutation are roughly 6 to 10% of the final property purchase price, making Bursa an even more affordable destination for budget house buyers.

Favourite Neighbourhoods in Bursa

So, if you decide that Bursa is for you, one district shining through for property buyers is Nilufer, named after the wife of Orhan Gazi. Surrounded by Osmangazi, Orhaneli, Mustafakemalpa┼ča, Uluabat Lake, Mudanya and Karacabey neighbourhoods, Nilfufer breaks down into 64 separate communities for property buyers, and the following are popular for good reasons.

Calica: This neighbourhood emphasises good urban planning, with green areas. Featuring roughly 14,000 people, this neighbourhood sits west of Bursa city centre with numerous education choices.

Besevler: As home to Bursa's biggest green park, this neighbourhood features a prominent indoor marketplace. The principal streets are Yildrim and Konak, and Besevler has transport links in and around Bursa.

Odunluk: To live somewhere quiet in Bursa, consider Odunluk, with roughly 3000 people. You don't have to compromise on shopping facilities, because there is a large shopping mall.

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Ihsaniye: Bursa's self-sufficient neighbourhood, Ihsaniye, offers everything within its boundaries, including good transport links, schooling, shopping, and leisure facilities. In addition, Fatih Sultan Mehmet's main boulevard offers cafes and restaurants.

Esentepe: This neighbourhood attracts interest because purpose planning prevents the trappings and downfalls of unplanned urbanisation. Much emphasis is on green spaces to avoid the aesthetic appearances of typical urban landscapes that can ruin a city's reputation. With a population of roughly 13,000, Esentepe also features two market spaces.

Hudavendigar: This neighbourhood stretches into the Osmangazi district. It is a good option for house buyers to tap into Bursa's green status because it sits close to the Bursa Uludag highway.

Dikkaldirim: Boasting efficient transport links, this Bursa neighbourhood is home to a high school and three hospital establishments. Also boasting of shopping centres and children's playgrounds, this neighbourhood attracts families.

Sulphurous: Sitting west of Bursa city centre and east of Dikkaldirim neighbourhood, two streets stand out here: Mudanya boulevard and Kukurtlu street. This neighbourhood offers much to buyers, including the metro station, public parks, and thermal spa facilities.

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See Properties in Bursa

Property for sale in Bursa varies from old to new, off-plan to resale and key-ready homes. In central Bursa, buyers flock to modern apartment complexes, often hosting many on-site facilities or smaller boutique-style complexes. However, luxury villas are also found in significant areas depending on your lifestyle requirements and budget. Turkey Homes guides all property buyers in Bursa while considering your lifestyle requirements and available funding. See our portfolio of apartments and villas in Bursa here. Each listing contains price, location, home features, and contact details to find out more via telephone or email or arrange viewings of property in Bursa.

Also About Property

Turkish Title Deeds: Every property buyer always wants to know more about title deeds in Turkey. Called a tapu in Turkish, these title deeds are more important than bricks and mortar. This legal document proves ownership. In addition, Turkish title deeds include information about the location and type of property. Turkey's land registrar regulates all title deeds, and this article looks at what to pay to get them and breaks down translations for each section.

Tips for Buying Property in Bursa: Knowing what to expect, your obligations, and what the property buying process looks like can calm nervous buyers. As an established Turkish real estate agent, we understand that foreign buyers are apprehensive. At Turkey Homes, we commit to transparency and communication. So, we listed key factors every buyer should know before they enter the Bursa property market.

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