Is Turkey a Right Country for Real Estate Investment?
What are the Risks of Investing in Real Estate in Turkey?
If you have purchased a property in the last few years, there will be a noticeable
increase in the value of your property. While this increase is partly related to the
floating values of the Turkish Lira against fixed currencies such as the EURO
and USD, it is mainly due to the increased demand for properties in Turkey by
foreign buyers.
As with any investment, it’s a good idea to consider all your options before
making a spontaneous investment. Thus, it may be more attractive to move your
business abroad and look at investment options. If you have made a firm
decision about investing, you may want to research the advantages, returns, and
risks of real estate investment in Turkey.
While it is difficult to make a firm judgment about the rate and process of
valuation of your investments, it is a fact that if you have recently purchased a
property, your property will be worth more than the purchase price. However,
the past performance of the investment does not guarantee future results, so it is
recommended that you do some deep research before committing to purchase.
Advantages of Real Estate Investment in Turkey
Except for the recent inflation, Turkey has one of the most stable economies in
Europe, and the Ankara administration has been highly praised for its economic
management during the recent fluctuating period. Due to the strong growth,
experts predict that the value of investment properties in Turkey will continue to
increase in the upcoming period. Real estate sales increased by 113.7% in
December 2021, following the recent sharp decline of the Turkish Lira, making
real estate cheaper in foreign currency.
It is an ideal holiday destination for citizens of Turkey, Europe, and the United
Kingdom. In recent years, foreigners have been flocking to Turkey for worldclass treatments at advantageous prices due to their own country’s high cost of
treatment. For this reason, health tourism also greatly contributes to the
country’s economy.
Which is the Best City for Real Estate Investment in Turkey?
Buying a home as an investment differs from buying a property for permanent
living. If you purchase an investment property, it is useful to grasp all the tricks
of real estate investment.
Before investing in real estate, it is strongly recommended that you get the
opinion of your financial advisor or experienced local real estate agent. You
may need guidance on where to buy property for a high return on investment.
Three cities that can provide high investment value in Turkey are Istanbul,
Bursa, and Antalya.
Istanbul is one of Europe’s largest cities, ideal for investment, and is considered
one of the most beautiful. Thanks to its advanced airline network, it also offers
easy access to European capitals or to many cities and countries such as Dubai,
one of the largest megacities in the Middle East. Thus, foreigners will have the
comfort of returning to their home countries easily in case of need.
Bursa is known as the “Capital of the Green” due to its carefully preserved
natural beauties and cobbled streets in the historic residential areas of the city.
Bursa also stands out in winter tourism with Uludağ, which is visited with
interest by local and foreign tourists.
Antalya is a Mediterranean city famous for its miles of sandy beaches and clear
turquoise blue sea. Antalya’s airport provides connections to many international
destinations, so it is possible to reach the city directly during the summer season
when tourism is at its peak.
Residence permit for real estate buyer
The Government of the Republic of Turkey grants residence permits to
foreigners who purchase real estate in Turkey. This permit, which can be
granted for a maximum of two years at a time, can be extended. In addition, if
the necessary conditions are met, the right to Turkish citizenship can be obtained
after five years of residence. This residence permit is granted to all family
members (first-degree relatives, spouse, and children under 18). With this
residence permit, the children of foreigners settled in Turkey can study in
Turkey. Foreigners who have a residence permit in Turkey can find a job more
easily and get a work permit. In addition, foreigners with a residence permit in
Turkey have the opportunity to purchase motor vehicles, export furniture and
vehicles, register with social security, and establish a company.
Geographical location and transportation possibilities
Turkey provides transportation to almost all countries of the world with its
geographical opportunities and transportation infrastructure. Considering that
you own a house in Istanbul today, it means that you will have the opportunity
to reach 249 different cities in 110 countries by direct flight from Istanbul
Airport. In addition, if we look at the opportunities provided by the geographical
location, Turkey is one of the rare middle belt countries in the world that has 4
seasons. You will also have the chance to live a quality life in the country,
which offers various opportunities in 4 seasons.
Cultural and social opportunities in Turkey
Turkey has all kinds of social opportunities, from sports to cultural activities,
concerts and entertainment. The four corners of the country offer different
possibilities. While enjoying the sea on the blue flag beaches in Antalya, you
can enjoy skiing in Bursa Uludağ. You can also find the opportunity to
participate in international festivals held every year in Istanbul. Millions of
tourists come to Turkey every year in order to benefit from all these
opportunities.
Affordable housing prices and exchange rate
Turkey attracts thousands of investors from many parts of the world with its
advantageous location. In addition to the natural and cultural beauties of the
country, the fact that it offers affordable real estate also attracts investments. The
rising exchange rate in Turkey in recent years offers advantageous and
profitable investment opportunities for foreigners.
Developed real estate sector and modern residences
They offer very luxurious and modern options to their buyers in Turkey’s real
estate and construction sector, which has developed quite a lot in recent years.
While most newly built residences have smart home technologies, almost all
have luxury social amenities such as a swimming pool, spa, and gym. It is
possible to have real estates that provide all these luxury opportunities at a more
affordable price in Turkey compared to other countries and metropolises of the
world.
Cost of living in Turkey
Turkey is also an agricultural country due to its location and climate. It is
possible to reach fresh fruits and vegetables in all four seasons in the country.
For this reason, food expenses are very low in our country. Foreigners coming
from abroad can lead a comfortable life in our country due to the exchange rate.