Turkey has significantly taken its place among the most preferred countries in terms of real estate investments in recent years. There are several factors behind these reasons for investing. First of all, Turkey is between East and West geographically. That is why this country has a variety of cultural riches and fascinating landscapes. When we analyze domestic and foreign investors, it is possible to see an increase in the purchase of real estate in Turkey. The reports of increasing housing sales in Turkey are the most important evidence at this point. When we look at the data of the Turkish Statistical Institute, the sales data in the real estate market in Turkey showed an increase of 25.1% compared to the data of January 2022.
Buying a property in Turkey has been one of the plans of many foreign investors around the world. According to state data, it was announced that housing sales in Turkey were 70,587 units in January 2021. There are, of course, many reasons behind these sales. These reasons provide various advantages for foreign investors in the real estate market. In this blog, let’s examine the benefits of owning property for foreign investors in Turkey together.
Why Buy a Property in Turkey?
Owning a house or apartment in Turkey has essentially become one of the most popular investments in the world in recent years. In particular, the opportunity to obtain Turkish citizenship for foreigners offered by the Turkish state has led to an increase in these mentioned property investments. People may choose to invest in a property for many reasons. The most popular among these preferences is to own a house without the expense of vacation and accommodation. The reason behind this investment is that Turkey is a holiday country and people convert their accommodation costs into investments by buying a house here.
Another reason is the warm and temperate climatic conditions that Turkey has. At the same time, Turkey, which has affordable and high-quality health services, offers excellent opportunities for adults and the elderly. Compared to other countries, the property options that foreigners can choose in Turkey are both more and cheaper. Foreigners who buy houses in Turkey have access to cheaper and higher quality living costs compared to European countries. Turkey is a country with a calm pace of life, warm climate, and a healthy diet for foreign investors. Regardless of the reason why people buy property, Turkey offers many opportunities for foreign investors at this point.
Acquiring Turkish Citizenship
The Turkish government has created an opportunity for foreign investors to reside in Turkey. All investors who own immovable property in Turkey can benefit from the mentioned residence opportunity. Foreigners who want to have Turkish citizenship can apply for citizenship when they buy a property worth $ 250,000. However, the citizenship application does not only cover the investor. At the same time, the investor himself and his family can obtain Turkish citizenship for a period of six months. Buying a property in Turkey allows you to obtain the right to Turkish citizenship, while also offering foreigners the opportunity to make a profitable investment in the real estate market.
The Right to a Residence Permit
One of the most interesting issues for foreigners is to have a residence permit in Turkey. Again, in this regard, Turkey is to facilitate the right to a residence permit for foreign investors. A foreigner who invests in real estate in Turkey can easily obtain the right to a residence permit. An investor can obtain a three-year residence permit for himself and his family by making a real estate investment of 650 thousand TL. The right to a residence permit in Turkey includes all family members of the investor. At the same time, the children of the investor who has obtained the right to a residence permit can also benefit from educational institutions in Turkey. Thus, foreign investors and their families have access to more than one opportunity within the borders of Turkey.
Geography and Transportation Possibilities
Turkey is located between Asia and Europe. Literally it is placed in the middle of the world. The Turkish transport system guarantees easy access from most places over the world. Turkey has seaside resorts that attract more foreign buyers every time they travel from east to west. In addition, the city of Antalya is worth mentioning, with its European style in lifestyle and the less frequented but equally exclusive Bodrum peninsula. Turkey is also recognized for its historical relevance, breathtaking mountain landscapes, and breathtaking coastline sights. Aside from the wonderful scenic mountains, the Mediterranean Sea and coastal breath-taking landscapes, Turkey is also defined as respected for its history. Thanks to Turkey’s geographical location, it has been home to many cultures throughout history, from Troy to the Ottoman Empire. Thanks to this reason, there is a lot to offer to all history buffs and curious souls in Turkey.
Affordable Property Cost and Exchange Rate
Turkey is among the countries that have an advantageous position in many aspects. For this reason, it has succeeded in attracting foreign investors from many different countries and origins within its borders. Turkey is a country with natural and cultural beauties. In addition, the fact that it provides affordable real estate options for foreign investors also increases the popularity of the country. When we analyze it from an economic perspective, the exchange rate that has been rising in the last few years turns into an advantageous and profitable investment in Turkey for foreign investors. Although Turkey has not seen the necessary importance of the international real estate market in the past years, the situation has been the opposite in recent years. House and apartment prices in Turkey have become the heart of investors. Turkey, which offers investment opportunities suitable for every budget, has turned into a maximization of benefits for investors.
Developed Real Estate Platform and Modern Properties
In recent years, the construction and real estate sectors in Turkey have grown significantly. This situation has created various opportunities for foreign investors. Investors are able to access extremely modern and innovative property options at affordable costs. The majority of the buildings built in recent years have modern and technological conditions, but they also have rich facilities such as a gym, activity areas, swimming pool, and even a golf course. At this point, investors can have all these opportunities at much lower prices in Turkey compared to other countries.
Property Prices to Invest
You can find housing options suitable for every budget in Turkey. Whether you choose expensive housing or lower-budget housing, there is a real estate market that can meet all your needs. Each person is different from another. Thus, your perceptions and styles determine your investment preferences. While some investors prefer modern residences, some investors may prefer to buy an authentic and bohemian-style house. Turkey offers a wide variety of housing options for its investors that suit all lifestyles. The results of an investment that you will make in the real estate market in Turkey are long-term. In this way, you can ensure your future while making profit today for your investments.
Turkish Food, Culture, and Hospitality
Turkey is a country rich in both culture and Turkish food. These factors are the beginning of the reasons why foreign investors choose Turkey. The Turkish people are very hospitable. Turkey hosts Mediterranean and eastern flavors together. It is very easy for foreigners to access fresh food in Turkey. Turkish cuisine is one of the leading delicacies in the world. At the same time, Turkish people are very warm-blooded, and people from other countries never feel like strangers in Turkey. As a result, Turkey is a country that hosts people of many nationalities and saturates the souls of foreigners with both its culture and food.
For More Advice on Property Buying
We are Tolerance Homes, a property investment real estate agent. If you are thinking of buying a home or apartment in Turkey, get in touch with us to find out more about the buying process, ideal places, and of course, to find your dream home. Alternatively, see our portfolio of apartments and villas for sale in many areas. Each listing involves everything to know, including contact details to arrange a viewing. When you buy a house or apartment through us, we are with you every step of the way to owning a place in the sun.