Over the past 10 years, Turkey has occupied a leading position in the global real estate market, attracting investors from different parts of the world. You can check out the villa’s prices in Turkey on the Turk.Estate website.
Turkish investment potential
The geographic position of the country has an important strategic impact, which, among other things, contributes to an increase in the amount of the purchases of real estate. In this regard, most investors buy property because of the following reasons:
- commercial investment or opening a branch of your company;
- personal residence;
- obtaining Turkish citizenship.
Turkish citizenship obtained through investment provides owners with many benefits: it facilitates their movement between countries, simplifies business negotiations inside and outside the country.
The real estate sector in Turkey is also one of the fastest growing compared to other countries in the world. In this country, thanks to a transparent economy and legislation, there is a significant advantage over other states. It also provides a safe environment where investors can buy and sell property with confidence.
A foreign investor looking to buy property in the country can find several options ranging from studio apartments to luxury villas in the new, resale or off-plan housing market.
The daily Turkish newspaper Habertürk provides several facts that demonstrate the current situation in the housing market:
- Rising property prices are noticeable in major cities such as Istanbul, Antalya, Bursa and Izmir and the capital Ankara. They marked the dynamic nature of development.
- Real estate prices vary from city to city and differ depending on the type of property.
- All Turkish cities also experience an annual increase in property prices, which varies by city.
- The same applies to rent. Its size may vary depending on the area in which the property is located, its technical characteristics and area.
The May issue of the newspaper reported on a systematic increase in housing prices throughout the country. The housing construction index in the country rose from 192.60 points (from 8332 housing units) in March 2022 to 198.80 points (to 9689 housing units) in May.
According to Knight Frank’s Global House Price Index, property prices in the republic increased by 25.7% in the second quarter of 2021, by 27.3% in the third quarter, and in the fourth quarter – by 30.3%.
The first quarter of 2022 showed an increase of 32%, the second quarter – by 29.2%. This trend will continue into the third quarter of 2022, according to Knight Frank analysts.
General idea about investing in real estate in Turkey
Along with the purchase of a luxury villa, you get prospects for doing business, arranging a quiet life and recreation, as well as the opportunity to expand your horizons, find new friends, and enjoy an abundance of fruits, sea breeze, and gentle sun all year round.
Buying property in Turkey, especially in the ecologically clean region of Antalya Döşemealti, is a profitable investment for foreign citizens who decide to move to the country for permanent residence, open their own business, or have personal holiday apartments.
Pros of buying property in Turkey
- The mild subtropical climate, where 300 days a year remain sunny, and summer lasts for almost 8 months.
- Excellent ecology and beautiful nature with a low level of air pollution. According to the latest data, the air pollution index in Antalya is 0.3 MPC, which is practically a heavenly place on Earth. Also in the region, much attention is paid to the landscaping of urban and residential areas (30% of the total area), and remote areas near mountain ranges delight with their coniferous forests, where clean air prevails.
- The huge coastline in the Antalya region (8000 km) includes all water bodies – rivers, lakes, and seas, where most of the beaches have the status of “blue flag”, which means the world standard for environmentally friendly waters.
- The developing economy provides great opportunities for building a business and registering companies in Antalya with low tax rates and the possibility of entering the world market through the country’s free economic zones (FEZ).
- The great popularity of the real estate market is caused by an affordable price for properties, the advantageous geographical location of the republic, and several advantages for investors:
- when buying an apartment in Turkey for USD 250,000, you can obtain citizenship within 2 months;
- buying real estate, at any rate, entitles you to a residence permit;
- the minimum period of ownership of the real estate in Turkey is 3 years, after which the owner has the right to sell his property at a much higher price;
- investment in new buildings is a profitable business for renting apartments, where profitability reaches 8% per year.
- Convenient visa and visa-free regime.
- Loyal conditions for business in Turkey, where the government is interested in foreign investment and is ready to provide all kinds of support to entrepreneurs:
- citizenship for investments in the country’s economy from USD 500,000;
- no tax on the export of goods produced in the FEZ of Antalya, Istanbul, and other regions;
- loans in local banks at a reduced interest rate, which amounts to 2-9% per annum;
- accessibility of cross-border territories where you can find future business partners;
- no restrictions on the withdrawal of funds to foreign banks, including when choosing a reserve account offshore.
- Free medicine and education in comprehensive schools are benefits for immigrants who came to Antalya for permanent residence.
- The affordable cost of living in Turkey is only 20% of the cost of living in the UK and 15% of the cost of living on the island of Cyprus.
Real estate in Turkey
Specialists of the international portal Turk.Estate are ready to assist in registering real estate in Turkey and obtaining a residence permit and permanent residence for expats of all countries.