Turkey, a country that has consistently attracted foreign investors, offers numerous benefits ranging from its rich culture to strategic geographical location. It’s easy access to advanced transportation facilities, thriving tourism industry, and bustling trade sectors, make it an ideal location for real estate investment in Turkey.
With its robust and growing economy, Turkey presents fresh opportunities for investors every year, ensuring their investments continue to thrive despite social, political, and economic challenges. Especially, the real estate sector in Turkey has emerged as an ever-expanding industry.
Year after year, thousands of foreign investors become property owners in Turkey, thereby contributing to the annual rise in foreign investment. The country’s four-season climate and ease of access from various global locations, make it a preferred choice for foreign real estate investment.
However, the perks of owning property in Turkey extend beyond these factors. Let’s explore the benefits awaiting foreign investors who indulge in real estate investment in Turkey.
Citizenship opportunity through real estate investment in Turkey
While obtaining residence permits can be challenging in many countries when owning real estate, in Turkey, foreign individuals who purchase properties above a certain value can apply for Turkish citizenship. Foreigners who purchase real estate worth at least $400,000 are eligible to apply for Turkish citizenship. In other words, by buying real estate in Turkey, you can not only make a profitable investment but also gain the right to apply for Turkish citizenship.
Check Turkish Citizenship Page
Residence permit for property owners
The Government of the Republic of Turkey grants residence permits to foreigners who purchase real estate worth over $75,000. This permit can be given for a maximum of two years and can be extended. Moreover, if the necessary conditions are met, after five years of residency, it is possible to obtain Turkish citizenship. This residence permit is granted to all family members (first-degree relatives, spouse, and children under 18 years old). Foreign children of residents in Turkey can receive education in the country. Foreigners with residence permits in Turkey can find jobs more easily and obtain work permits. Additionally, they have the opportunity to purchase motor vehicles, export furniture and vehicles, enroll in social security, and establish companies.
Check Turkish Residence Permit Page
Geographical location and transportation facilities
With its geographical advantages and transportation infrastructure, Turkey provides access to almost all countries in the world. If we imagine owning a house in Istanbul today, it means you will have the opportunity to reach 249 different cities in 110 countries with direct flights from Istanbul Airport. Furthermore, considering the opportunities provided by the geographical location, Turkey is one of the rare middle-latitude countries that experiences four seasons. By living in a country that offers various possibilities throughout all four seasons, you can enjoy a quality life.
Cultural and social opportunities in Turkey
From sports and cultural activities to concerts and entertainment, Turkey offers a plethora of social opportunities, making real estate investment in Turkey an appealing prospect. Every corner of the country offers different facilities. You can enjoy the beaches with blue flags in Antalya or go skiing on Mount Uludağ in Bursa. Additionally, you can attend international festivals held in Istanbul every year. Millions of tourists visit Turkey each year to benefit from all these opportunities.
Affordable housing prices and exchange rates
Turkey attracts thousands of investors from around the world due to its advantageous location. In addition to the natural and cultural beauties of the country, the availability of affordable real estate is also appealing to investors. The increasing exchange rate in Turkey in recent years provides advantageous and profitable investment opportunities for foreigners.
Turkey Leads the Global Real Estate Market with Highest Returns on Investment since 2019
According to the Knight Frank Global Price Index report, Turkey has secured the top position in real estate investment returns since 2019. Demonstrating remarkable growth, Turkey has experienced an impressive 108% increase in property prices during this period, surpassing other global contenders. In comparison, the second-ranking country, New Zealand, recorded a mere 38% increase.
This significant gap highlights Turkey’s exceptional performance, with nearly three times the growth of its closest competitor. The sustained upward trajectory of Turkey’s real estate market reinforces its appeal to both domestic and international investors, who recognize the country’s potential for substantial returns on their investments in the years 2019 to 2023.
Advanced real estate sector and modern housing
The real estate sector in Turkey has developed significantly in recent years, presenting luxurious and modern options for investors. Most newly constructed residences are equipped with smart home technologies, and many of them have luxury amenities such as swimming pools, spas, and gyms. Compared to other countries and metropolises, these properties with luxurious facilities are available at more affordable prices in Turkey.
Cost of living in Turkey
Due to its location and climate, Turkey is also an agricultural country. Access to fresh fruits and vegetables is possible throughout all four seasons. Therefore, the cost of food in Turkey is relatively low. Foreigners coming from abroad can lead a comfortable life in Turkey due to the favorable exchange rate.
In summary, real estate investment in Turkey offers countless advantages. If you’re considering buying a property in Turkey, get in touch with us at [email protected] or from Whatsapp. Our team at Simply TR is always ready to help! Simply TR is always ready to help with its experienced and professional team. If you have any questions, feel free to ask.