In the past 15 years, the Turkish real estate market has developed enormously, in which foreign buyers have also played and continue to play a significant role.
We have listed below why the interest of many foreign buyers in real estate in Turkey has increased.
Did you know that buying a property in London is almost eight times more expensive than in Istanbul? The farther you are from Turkey's most vibrant cosmopolitan city, the cheaper the prices become. Real estate prices in Antalya, for example, start at 30,000 euros, which offers the potential to make long-term profitable investments. With the favorable exchange rate of the Turkish Lira converted into foreign currencies, now is an ideal time to buy real estate as the value for money is higher. Clients looking for guaranteed rent investment properties can find lucrative opportunities.
In the last 10 years, the Turkish real estate market has greatly expanded its portfolio of studios, apartments and villas. There are unlimited options for those looking for a pre-owned, project or new build home. You can visit our partners' sites to see the types of property for sale in Turkey, from coastal towns to city center houses.
10 years ago buying a property in Turkey was a long process of waiting for the title deed. However, the process can be completed in a short period of one week as the Turkish government has simplified the process significantly. However, if you are not familiar with the property buying process in Turkey, we recommend that you work with a professional and reliable company.
Our handpicked partners have professional staff to guide buyers through the entire buying and selling process, from helping them find their dream home to signing the deeds and moving into their new home. They stand behind their zero defect principles and for smooth and easy service. Detailed information on the process can be found on our property purchase page.
The Turkish real estate sector is investor friendly as it offers a wide range of properties for all budgets with easy payment terms. You can consider buying a property in Turkey for a profitable investment at affordable prices.
If you are in the project phase or want to buy a newly built house, you can also use installment plans from 6 to 60 months. In some cases, this means you have around 5 years to pay for your house, but you can move sooner and sign the deed. For first-time homebuyers, this option is a great zero-interest opportunity. You can view here the properties for sale from our partners with advantageous payment plans.
No matter where in the world you are considering buying property, the cost of living is an important factor that will help you make the decision. Looking at the living conditions in Turkey, anyone who sees that it is possible to achieve a high standard of living at affordable prices may be surprised. We sampled the comparative data to give you an idea;
Cost of living in Turkey
• The cost of living in Turkey is 59.36% below the US average.
• Rents in Turkey are 87.04% below the US average.
• Restaurant prices in UK are 300.59% higher than in Turkey.
• Market prices in Germany are 120.64% higher than in Turkey.
• Finnish consumer prices are 171.09% higher than in Turkey (excluding rent).
Of course, the cost may vary depending on the city you live in, but the above difference will be very noticeable in Turkey for the middle and upper-middle upper life segments. To learn more visit our Cost of Living in Turkey page.
Turkey attracts the attention of investors from all over the world, mainly because of its unique geographical location, which is partly in Asia and partly in Europe.
Put simply, Turkey is very central to most of the home countries of major investors. In addition, Turkey has a wide transport network that offers various options of convenient and inexpensive travel such as airplanes and ships.
The Turkish government has invested in the country's airports, allowing airlines like Turkish Airlines, with their busy schedules, to offer frequent flyer programs all year round. In the summer months there are ferry connections to all Greek islands. Turkey has also invested in upgrading its highways to make road traffic faster than ever.
These opportunities encourage investors to buy real estate in Turkey. Finally, it is important to take a quick trip to Turkey in case of a problem without wasting too much time on the road to get there.
One of the relatively less mentioned but still important reasons to buy a property in Turkey are interests and activities. While in big cities all residents have access to culture and arts scenes, life by the sea has great advantages in the seaside resorts of the Aegean and Mediterranean, as much of daily life takes place outdoors.
Ski resorts scattered across the country and some regions like Belek in Antalya have earned a reputation as a hip golf destination. Finally, it is necessary to take into account the country's favorable climate for summer evenings for al fresco dining and for days by the pool.
Turkey ranked 14th in the study that identified the 25 most suitable property investment markets in 2020, beating countries like Spain, Portugal and Greece. In addition, the Ease of Doing Business Report 2020 prepared by the World Bank ranked Turkey 33rd out of 190 countries. The main reasons for this increased interest are affordable prices, growing projects and a stable tourism market.
Turkey has a safe investment market that meets international standards and offers equal service to all investors. In this system, where protecting the interests of investors is a priority, Turkey has made several changes to encourage foreign investment.
According to the Union of Chambers and Commodity Exchanges of Turkey (TOBB), 80,000 companies started operations in Turkey in 2019. 12,634 of these companies (approx. 15%) were companies of foreign origin. The latest reports show that the investment rate in Turkey has increased 9 times compared to the last 10 years.
The most important feature that distinguishes Turkey is its healthcare system. With the principle “Everyone has social rights”, public or private healthcare services in Turkey are easily accessible and available at affordable prices. Especially compared to Europe and North America, private hospitals in Turkey are preferred by foreigners due to their prices and high service quality. Thanks to this intense interest, health tourism has developed in Turkey. For more information, see our Healthcare System in Turkey page.
According to the legal regulation published in the Official Gazette on 09/19/2018 and 12/07/2018, those who want to buy ready-to-move-in or under-construction properties in Turkey worth at least $250,000 must undertake to buy a property worth $250,000 from a Notary Die Turkish citizenship is granted directly to foreigners. If the requirements are met, it takes about 1 week for the naturalization approval to be given. Visit our Turkish Citizenship page for more information.
Our selected real estate partners are professional real estate companies with the necessary knowledge and experience in citizenship. They have delivered many title deeds to thousands of clients from 84 different countries with zero errors. Our partners' expert team will guide you through all the steps of free pre-sales and after-sales service, from property purchase to furniture covering.
Take a look at our partners' properties listings in Turkey now or contact us to get information from our sales representative about buying properties in Turkey.
Unfortunately, Turkey"s state-subsidized construction industry is being swamped by dubious construction companies who have no problem putting large numbers of substandard housing on the market and resorting to various tricks to generate large profits in a short period of time. Unfortunately, we saw and experienced the consequences of this in the sad earthquake in Kahramanmaraş on February 6th.
Within a week at the latest after moving into the property you bought from the developers who are malicious and abusing the subsidies given by the state, you will find that all the materials used are of poor quality e.g. E.g. the skirting boards that look like wood are actually cardboard, the shiny chrome materials in the bathroom are just cheap plastic, water is leaking from the heating or water pipes, the electrical components are inadequate, etc.
I realize this is annoying, but I wanted to bring this issue back to the fore after the earthquake in our country that killed thousands of people.
Especially in the past, it has once again been shown how right it is that we work with the most reliable, proven consultants and not with real estate consultants who promised us high profits in a short time by marketing cheap real estate.
So, given these facts, should I still buy a property in Turkey? Definitely yes, if you buy them through the right people. You can read my thoughts and observations on the benefits in this blog.