Overseas Real Estate in Turkey

While Turkey has secured its spot as one of the most popular holiday destinations in the world, the real estate market has become exceedingly prominent due to its recent development. Interest from foreign buyers in Turkish real estate is not a new thing however. Its geographical location, scenic vibes, and historical architecture have always attracted buyers from all over. This fascination seems to have doubled in the last few years.

This article outlines the reasons that make the real estate in Turkey attractive for overseas property investments, and provides detailed information on the Turkish real estate sector.

Why Foreign Investors Prefer Making an Overseas Real Estate Investment in Turkey?

There are many reasons for that. First and foremost, the volatile situation in many countries close to Turkey is causing buyers to move their investments to safer ground. The Turkish government has also been receptive to the needs of foreign investors. Steps, such as making it easier for buyers to get title deeds of the properties, work in favor of the real estate market overall.

The decision by the Turkish government to keep its borders open during the Covid years was a boost to the real estate market and tourism.

Another reason for foreigners looking favorably at the Turkish real estate market is affordability. The global recession and the increase in inflation have affected Turkey as well, but property prices are still lower than in most other locations in the world. Turkish real estate offers better long-term returns, as well.

The diversity of the property market is another reason that attracts investor interest. It is a unique mix of budget, commercial, and luxury options. The overall living costs for expats are still lower than most countries.

In addition, Turkey holds a distinctive position in the world market due to its location falling between Europe and Asia. This country has the unique advantage of having links to various major markets such as the Middle-east, Europe and Asia.

Turkey also possesses an allure of offering a western lifestyle and has a highly developed infrastructure. The chance to acquire a second passport, fueled by the Turkish Citizenship by Investment program, has also contributed to the sky-rocketing property sales to foreigners.

In June 2022, housing sales saw a 11.7% rise compared to June in last year while sales of residential properties to foreigners also saw a boost by 81.8% in June of 2022 compared to the last.

Turkey’s property sector also promises impressive ROI because of the high real estate quality and value.

How to Get Turkish Citizenship by Investing in Turkish Real Estate?

You can easily become eligible for Turkish citizenship if the money you invest in Turkish real estate is a minimum of $400,000 or more and sign a document agreeing not to sell the property for a period of three years.

You can purchase any type of property, residential or commercial and acquire citizenship for your spouse and children under 18 years.

Prime Property Turkey is the best way to make this dream come true for you. We take pride in our premium real estate consulting service, and possess a multilingual team of experts that can assist you in buying Turkish property.

Our service does not end here. We also have an in-house legal team that can take the process further by arranging your documents and applying for your Turkish citizenship. Furthermore, our after-sales service extends to property management, resales, and much more.

What Does the Turkish Property Market Offer?

The Turkish real estate portfolio includes every type of property possible. They can be divided into residential, commercial and industrial properties.

Residential Properties

The residential properties feature apartments (old and new), duplex and triplex units. Villas, townhouses and penthouses are other residential property options in Turkey.

Holidaymakers coming to Turkey heavily invest in villas, penthouses and apartments throughout the country for their luxurious designs, first-class facilities and shockingly affordable prices.

Commercial & Industrial Properties

Just like the residential properties, Turkey’s commercial property portfolio is extremely dynamic, consisting of restaurants, cafes, shops, hotel buildings and office units, etc.

Besides this, Turkey also has a wide range of industrial properties such as warehouses, factories and distribution centers, etc.

How to Make an Overseas Real Estate Investment in Turkey?

The Turkish government has made this process easy and quick. Here is what you have to do:

Begin your property search by connecting with a trustworthy real estate consulting agency. Prime Property Turkey can help you explore a wide array of properties in Turkey for sale.

Have a clear discussion with your real estate consultant about your budget, requirements and expectations.

You can then visit the country, tour properties alongside your real estate consultant, and check out different neighborhoods.

Once you have decided on a property, your consultant can negotiate an excellent deal for you and reserve the property.

Wrap up the purchase by working alongside a solicitor via POA (Power of Attorney).

The last step is to register the title deed (TAPU).

Is buying property in Turkey safe?

Purchasing real estate in Turkey is safe from any risk since the country possesses a developed infrastructure and economy and the local properties provide reliable income for foreign investors.

So if you have your eye on the Turkish property market, contact Prime Property Turkey’s team so we can introduce to you the best options, and make your investment process a safe and easy one.