Izmir City Guide

Izmir is Turkey's third-largest city and the largest metropolitan area on the Aegean Sea — population 3.5M (city) / 4.5M (province). Ancient Smyrna, founded approximately 3,000 BC, today combines a deep historical heritage (Agora, Asansör elevator, Kemeraltı Bazaar) with Turkey's most-progressive secular urban culture, a growing tech-startup ecosystem ('The Aegean Tech Darling'), 13 universities (150K+ students), and the Aegean coastal lifestyle. Average property prices ~$1,150 USD/m² ($1,100-$1,300 range). Gross rental yields 7.10% — among Turkey's strongest. 2025 saw +29.6% nominal YoY (25.82% nominal converted to -4.34% real after inflation). Foreign buyer demand growing rapidly, particularly from European retirees + Russian + Iranian relocators. Turkey's $400K CBI applies in higher-end developments.