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Izmir, Turkey

Q: How much is rent in Izmir?

A 1-bedroom apartment in Izmir rents for TRY 14,000/month in 2024.

Q: Is it better to buy or rent in Izmir?

Buying and renting are roughly comparable in Izmir. Price-to-rent ratio: 20.0x.

Property prices · 2024 · Middle East

Price/sqm — City Centre TRY 55,000

Price/sqm — Outside Centre TRY 37,000

1-Bed Rent / Month TRY 14,000

3-Bed Rent / Month TRY 23,000

Avg Mortgage Rate 28.00%

Price-to-Rent Ratio 20.0x Buying and renting are roughly comparable

Property price trend in Izmir (2024–2026)

Property comparison — cities in Turkey (2024)

City	Centre /sqm	Outside /sqm	1-Bed Rent	vs Izmir
Izmir	TRY 55,000	TRY 37,000	TRY 14,000	—
Antalya	TRY 62,000	TRY 42,000	TRY 15,000	+12.7%
Ankara	TRY 45,000	TRY 30,000	TRY 12,000	-18.2%
Istanbul	TRY 42,000	TRY 25,000	TRY 15,000	-23.6%
Bursa	TRY 38,000	TRY 25,000	TRY 10,500	-30.9%

Other Middle East cities (2024)

Frequently asked questions

How much does property cost in Izmir in 2024?

In Izmir, the average price per sqm in the city centre is TRY 55,000, and TRY 37,000 outside the centre (2024 data). Prices have risen 80% since 2024.

How much is rent in Izmir in 2024?

A 1-bedroom apartment in Izmir rents for approximately TRY 14,000 per month in 2024. A 3-bedroom apartment costs around TRY 23,000/month.

Is it better to buy or rent in Izmir?

Buying and renting are roughly comparable in Izmir. The price-to-rent ratio is 20.0x — it would take approximately 20.0 years of rental payments to equal the property purchase price. Current mortgage rates are approximately 28.00%.

What are mortgage rates in Turkey in 2024?

The average mortgage rate in Turkey is approximately 28.00% as of 2024. With a price-to-rent ratio of 20.0x, buyers should carefully weigh mortgage costs against rental savings.

What is the price per sqm in Izmir?

The average property price per square metre in Izmir city centre is TRY 55,000 in 2024. Outside the centre, expect to pay around TRY 37,000/sqm.