Why Buy Property in Turkey?
When answering the question "Why buy property in Turkey?" we can give many answers to curious foreign buyers. Real estate markets across Turkey attract people of many nationalities with specific reasons for buying. Turkish property also ranks alongside Spain, Portugal and France when owning a home abroad, and present many benefits and reasons to buy from major cities to coastal towns.
From Turkey's largest city, Istanbul, to affordable prices in places like Fethiye and Alanya, the wide variety of property types presents many choices. So, in this article, we will help you decide whether a real estate investment in Turkey suits you. As a real estate agent with offices across Turkey, our knowledge is second to none, and here are our reasons why residential properties in Turkish cities and towns are healthy investments.
Why Buy Property in Turkey?
Summary of Reasons to Buy Property in Turkey
- Favourable climate with long summers and mild winters.
- Attractive and diverse real estate options range from city apartments to coastal villas.
- Affordable property prices compared to other countries.
- The cost of living in Turkey is relatively low, making living in the country affordable.
- The Turkish government implemented policies to encourage foreign investment in real estate, such as providing citizenship to property buyers.
- Turkey has a diverse and attractive landscape, making it a popular tourist and expat destination.
- Turkey's diverse and rich culture, beautiful landscapes, and mild climate make the country ideal for owning a holiday home or retirement property.
- Turkey's location, international airports, and excellent public transport make getting to and from the country easy.
- Foreign languages are spoken in many districts, eliminating the language barrier.
Turkish Citizenship by Investment Program
Home buyers who spend a minimum investment of $400,000 and will keep the property for at least 3 years become eligible to apply for the Turkish citizenship program. Foreign buyers can keep dual citizenship, and this program allows them to live and work in the country precisely as Turks do. As one of the world's most attractive citizenships, the program has seen many foreign investors. Buy the property, apply for a residence permit, and then citizenship. The program also extends applications to families of real estate investors and is known for quick processing times.
Low Average Costs Make Turkey a Popular Destination
Buying a home in Turkey is affordable, whether talking about costs of living, additional costs to purchase property, or housing costs like council tax, water, and electricity. Even though the Turkish economy has experienced problems, life costs are still cheaper than in European countries. Turkish banks have implemented policies to get the economy back on track, and foreign nationals who live in Turkey, either in rental properties or their own homes, convert their pensions and enjoy reasonable dining and entertainment prices.
Variety of Culture and Lifestyle
Speaking about lifestyles, Turkey has an authentic fusion for accommodating everyone regardless of their background, making it an attractive destination for living the life you want. Of course, some places adhere to traditional cultural heritage. Still, culinary scenes are diverse in large cities and coastal resorts, and residents enjoy a mild winter climate. Visit ancient ruins and significant attractions, or take advantage of excellent transportation networks to explore the rest of Turkey. Expat communities of most significant destinations live here because they find precisely what they want.
Architecture and Housing
Whether you look at modern apartments, private houses, or a detached villa near beautiful beaches, property opportunities are endless. Expensive districts boast the latest luxury apartments, while outskirt districts attract budget buyers. Whether you want a central location in a city centre or to live off the grid remotely, buyers have choices. Construction companies have also upped their game, and the fusion of architecture trends is evident, from eco-friendly green buildings to minimalist living, SMART homes, stunning property complexes, and more. Whatever idea you have for housing, you will find it.
Strategic Location and an Alpha City
Any good guide to Turkey automatically mentions the location between East and West, which makes it a prime global destination. Add major international airports, like Istanbul, Dalaman, Bodrum and Antalya, and this explains why people flock from around the world to take advantage of this destination for property investment. The capital city of Ankara is a prominent political player among world governments.
While Istanbul is also an alpha city and hub of foreign investment, whether in the tourism industry, education, business, finance, technology or construction. Coastal cities cover the black sea, Aegean and Mediterranean, and Turkey borders seven countries, and as well as investing in relationships with Europe, Middle Eastern countries, and Asia, Turkey is a global player because of the ideal location.
Real Estate Prices and Long-Term Investments
Turkey's records show good long-term investment in property prices. Additionally, buyers who keep the home for at least five years don't pay capital gains tax on property values. One big lure, though, is diverse purchase prices, from budget destinations like Aegean Altinkum to luxury locations like Kalkan town. Properties for sale range from budget studio apartments to large villas that fetch at least six digits. Some off-plan investment properties in Istanbul also offer 0% interest-free long-term payment plans, presenting ideal investment opportunities for investors to build portfolios, while commercial properties fetch good rental incomes, and some boast high rental yields.
Easy Property Transfer Process
Property purchases in Turkey are the same for foreign real estate buyers as for Turkish citizens. In fact, if all finances and legal paperwork are in order, international buyers can receive their tapu in as little as two days. The easy acquisition process for foreign property buyers is one reason why some choose Turkey over European countries, which see extended, drawn-out purchase agreements, legal issues, and construction laws.
Hot Summer and Mild Winters
Turkey's moderate climate is a big lure for retired expatriate communities and those buying holiday homes. Those who want to use the home for holidays buy a comfortable apartment in coastal resorts where they enjoy cultural attractions and sandy beaches from spring through autumn. Of course, one of the biggest draws of hot summers is the outdoor living of this beautiful country. From stunning beaches like Calis Beach to al fresco style dining to owning a private villa with an infinity pool, expect a beautiful life outdoors. Those who live here on permanent residence also enjoy mild winters and a Mediterranean lifestyle.
Tips for Buying Real Estate in Turkey
Know Your Reasons: Investors like bustling city vibes that match those of European cities. While house buyers who only want to use the property for holidays often head to coastal resorts for the sun, sea and sand vibes of blue flag beaches. Meanwhile, those planning to live here often look at luxury residences with oodles of space. Without a doubt, your reason for buying will define where and also what type of property, so know why you are buying before deciding on anything.
Know Your Finances: Most prospective buyers look at average prices to determine whether they can afford it. But extend research further. Also, factor in additional costs and taxes of buying and annual property running. One consideration for investors when financing mortgages is to factor in monthly mortgage payments and if you can afford them when your property is not fully occupied.
Take Your Time: It is quick to make direct investments in Turkey, and you might get carried away with enthusiasm. International property buyers should ensure they use logic and reason instead. Hence, take your time. From Turkey's busiest cities to luxury properties, living costs and more, this foreign country has choices, and foreign citizens will find what they want.
Popular Places Where Foreigners Buy Property
Bustling Istanbul: Many high-end investors head to Istanbul for business opportunities and working expats for job opportunities. Separating into Asian Istanbul and European Istanbul, average house prices in Istanbul's city centre are Turkey's most expensive but get cheaper in the outskirt districts. Some districts are financial centres, and international companies often base their headquarters here. As home to Turkey's two busiest airports, Istanbul has a strong economy that never stops.
Antalya Region: Real estate property in Antalya is popular because of its Mediterranean locations and beachside lifestyle, which is the ideal solution for retirement and holiday homes. Houses range from budget apartments to luxury real estate spanning many square meters. Antalya welcomes people worldwide with a cosmopolitan ambience, and the region divides into various towns and villages, like Kalkan, each with a unique charm.
Fethiye Region: Any comprehensive guide about Fethiye will talk about the Blue Lagoon, Turkey's most photographed beach, but industry specialists will testify the region is about more than that. Many foreigners live here on residence permits and, despite the fame, are pleasantly surprised at exceptional property prices. Fethiye city centre is a sailing and transport hub, and surrounding districts like Calis Beach, Hisaronu, Ovacik, and Uzumlu have a lot of property for sale.
Bodrum Peninsula: This Aegean peninsula is known for its high rental yields, thanks to the luxury status it commands. Bodrum city centre is an excellent idea for being in the heart of the action. Otherwise, Yalikavak is where architectural trends shine through. Enjoying a moderate climate, expatriate communities live in various towns like Gumbet and Torba. At the same time, places like Golturkbuku attract wealthy business people and famous celebrities. Expect to pay more for average house prices in Bodrum but tap into immense leisure and pleasure in Turkey.
Start Your Property Search
Our portfolio of exclusive properties in ideal destinations is perfect to start your journey. International investors can buy up to 30 hectares of property in Turkey, and our listings feature everything from apartments for city living to homes near public transportation to houses for sale in remote locations. Real estate options are endless; and each listing contains everything to know, including housing prices, location, home features, and information about that regional housing market. Just fill in the form or call us to receive more information via email or to arrange viewings.
Use Our Services
Our services will help house buyers enter Turkey's real estate market. As agents in destinations including Istanbul's city centre, Fethiye, Bodrum, and Antalya, we have helped many foreign nationals become proud homeowners in Turkey. Whether you want permanent residence, ideal property prices, or benefits of city life, call us today and learn why buying property in Turkey is an excellent idea.
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