Buy Real Estate in Turkey;
The Turkish real estate sector has entered a modernization process since the 2000s and aimed to adapt quickly to innovations. A large part of the goal of attracting foreign investors to the country is realized through the real estate sector. Turkey is a province of foreigners especially because of its geographical location, natural riches, cultural mosaic and many other advantages.
it ‘s pulling. So what are the advantages of investing in real estate in Turkey for foreigners? We have compiled for you.
1-Obtaining Turkish Citizenship
The most important advantage of buy real estate in Turkey is that it provides the right to citizenship. Foreigners who own at least USD 400,000 worth of real estate in Turkey are entitled to obtain Turkish citizenship. In this way, the person who owns the real estate, his wife and children under the age of 18 can apply for Turkish citizenship.
There is no obligation to live in Turkey in this process, where you can have a Turkish passport through investment. Although the purchased real estate cannot be sold to someone else for at least 3 years, income can be obtained by renting it. After 3 years, the sales ban is lifted.
2-Residence Permit
The person who owns real estate in Turkey, his spouse and their children under the age of 18 are granted a residence permit in Turkey. Persons who have a residence permit have rights such as establishing a company, purchasing a motor vehicle, receiving education in public schools and benefiting from the health services provided by the state. Because of these advantages, it is considered very attractive to buy real estate in Turkey.
3-Inexpensive Real Estate Compared to Europe
Real estate prices in Turkey are much cheaper than in Europe. For example, in Istanbul, which comes to mind first to buy real estate in Turkey, real estate is 8 times more affordable than London, despite being Turkey’s metropolis and the most expensive city. For this reason, citizens of European countries often prefer to own a house in Turkey in order to live in economic comfort during their retirement.
The real estate sector in Türkiye has a wide spectrum. The availability of real estate types suitable for every budget makes Turkey attractive in purchasing real estate.
4-Low Cost of Living
For those who buy real estate in a foreign country and plan to live there, the cost of living in that country is among the most important factors to consider. Türkiye is quite advantageous compared to many countries in terms of living costs.
According to the 2023 data of the worldwide cost of living research conducted annually by the human resources management consultancy firm Mercer , Istanbul was listed as the 185th cheapest city among 227 cities on five continents. In the same research, the fact that Istanbul, which was in the 156th rank in 2020, was placed in the 185th rank at a time when all economies were hit due to the Covid-19 pandemic, shows that the cost of living continues at a positive pace.
https://www.mercer.com/tr-tr/insights/total-rewards/talent-mobility-insights/cost-of-living/
5-Return on Investment
The real estate sector is ideal for long-term investments. The advantages in this regard are even greater, as the costs in Turkey are lower than in other countries. Houses with annual maintenance and necessary renovations can be used as a long-term investment tool in Turkey, and great returns can be obtained.
May 2023 compared to the previous month, KPI increased by 103.6 percent in nominal terms and by 45.0 percent in real terms compared to the same month of the previous year.
Click here for the Housing Price Index report!
Buy real estate in Turkey is therefore considered a very good investment tool.
6-Geographical Location
Turkey, which acts as a bridge between eastern and western countries, is geographically ideal because it is located almost in the center of the world. Many countries can be reached with only one flight. It is a country that stands out in terms of transportation with both air and sea options.
7-Wonderful Climate
Turkey is one of the few countries where 4 seasons can be experienced with their separate beauties, thanks to being among the middle belt countries.
8-History
Türkiye, with its rich history, contains the remains of many cultures on its territory. In Anatolia, which has hosted many civilizations in history, there are many places to visit such as Cappadocia, Pamukkale, the Ancient City of Ephesus, Safranbolu and Göbeklitepe, which has attracted the attention of the whole world with the discoveries made in recent years.
9-Food Culture
If you want to buy real estate in order to live in a country, of course, the culinary culture of that place will be important for you. Turkish cuisine is among the richest cuisines in the world with 2,205 regional dishes. Living in Turkey is quite easy for foreigners, with its variety of food, as well as many alternatives for a healthy and balanced diet.
10-Friendly and Hospitable People
Anatolian people are known all over the world for being friendly and hospitable. In Turkish culture, the guest is the crown jewel. Turkish people continue the tradition of their ancestors who built inns, baths and caravanserais to host travelers in ancient times.
11-Service Quality in the Health Sector
The health sector is one of the areas in which Turkey stands out, especially when compared to European countries. In the sector, which operates with the understanding of the social state, the state provides full-fledged services to the public with its own health institutions. With the Family Medicine system, which constitutes the first step in health, a Family Health Center was established in each neighborhood and a family physician was assigned to each citizen. If deemed necessary from these points where basic health services are provided, patients are referred to full-fledged health institutions and health services are provided.
12-Cultural Diversity
Türkiye has a rich cultural diversity due to its location in the middle of Europe and Asia. It is one of the few countries where people who both adopt a secular lifestyle and prefer to live in a conservative way can live in peace and harmony, where no one’s lifestyle is interfered with.
With all these features, Buy Real Estate in Turkey is very attractive in terms of investment and quality of life.
