FACTS YOU NEED TO KNOW TO INVEST IN TURKEY
Turkey lies at the crossroads between Europe and the Asian continent and has featured many nations throughout history as the gateway to Europe and Asia. Turkey received more and more visitors and international investors every day. Turkey, which has managed to attract visitors from all over the world with its commercial, tourism, health, technology, culture and arts activities, is one of the leading countries with its developing economy
Defined as an emerging market economy and currently the 20th largest economy in the world, Turkey is rising in the rankings day by day with its investments made. Supporting private sector investments with various opportunities, Turkey keeps growing rapidly and occupying a strong place in the world economy.
Turkey, which has the largest country in Eastern Europe and, with its fertile soil, has an increasing say in the field of agriculture, is also boosting its economy. With its historical past and unique coasts, Turkey manages to become one of the destinations of millions of tourists every year.
With a population of more than 83 million and more than 50 percent of this population under the age of 35, Turkey is constantly evolving and having a greater say in the world market. Studies show that Turkey's potential is also being recognized by foreign investors. As the 7th most popular country in Europe in terms of foreign direct investment and a corresponding increase in capital investment, Turkey offers beneficial opportunities for investors. In the financial sector, almost 30 percent of Turkey's wealth is created by foreign capital.
With the development of Turkey, the real estate market is also showing activity. Citizens of many countries, from Iraq to Russia, from the USA to Qatar, continue to buy real estate in Turkey. Istanbul, Ankara, Bursa, Antalya and Izmir are the most preferred when it comes to real estate sales. Turkey, which has 23 cities with more than 1 million inhabitants, can also offer a quick return on investment.
With its new highways and airports, Turkey continues to be one of the top tourist destinations, allowing fast and reliable travel to many parts of the world. There are direct flights from 15 cities in Turkey to cities abroad, and the distance between cities can be remarkably bridged by highways.
People who want to enjoy these advantages of Turkey and buy real estate can own real estate by complying with the legal restrictions. Foreign citizens do not need a residence permit to own real estate. A foreign person can acquire real estate not exceeding ten percent of the area of a district or thirty hectares in the whole country.
People who want to buy a house in Turkey must apply with the title deed, ID card and passport, current real estate certificate obtained from the municipality, compulsory earthquake insurance, real estate appraisal report and, if any, the power of attorney processed, the original and the certified copy of the power of attorney. The fact that people who buy real estate in Turkey check whether the property has a mortgage or lien also prevents problems in the sale.
WHERE IS THE MOST EXPENSIVE AND CHEAP PROPERTY IN TURKEY?
The location of the most expensive and cheapest properties in Turkey is among the most researched topics by those considering investing and buying property in Turkey. Cities like Istanbul, Izmir, and Ankara are among the most expensive cities due to easier transportation, more job opportunities, and their location. However, many districts in Istanbul such as Beylikdüzü, Esenyurt and Gaziosmanpaşa are for sale at prices below Istanbul standards. You can also contact us to buy property in Turkey that fits your budget and you can take advantage of the most suitable property opportunities.
FOR 250 THOUSAND DOLLARS T.C. CITIZENSHIP OPPORTUNITY
Exceptions in the citizenship law of the Republic of Turkey, which changed from 2018, allowed foreign investors to acquire more real estate in Turkey. Previously, the House Sale Reciprocity Law was enacted in 2012 and the investment amount required for citizenship of the Republic of Turkey was set at 1 million dollars. This price was reduced to 1 in 4 in 2018. The reduction of the investment limit from $1 million to $250,000 contributed to a record number of properties bought by foreigners in Turkey. Iraq took first place and Iran second in the list of countries that bought the most apartments in Turkey.
ALL-TIME RECORD BROKEN IN 2021
According to the research, the number of apartments bought by foreigners from Turkey kept increasing every year except 2016. On the other hand, sales to foreigners in Turkey doubled with the transition in 2018. The total number of sales to foreigners from 2013 to August 2021 was recorded as 245,000.
Sales to foreigners in 2013: 12,000 property sales
Sales to foreigners in 2014: 18,000 property sales
Sales to foreigners in 2015: 22,000 property sales
Sales to foreigners in 2016: 18,000 property sales
Sales to foreigners in 2017: 22,000 property sales
AMENDMENT OF REAL ESTATE LAW
Sales to foreigners in 2018: 39,000 property sales
Sales to foreigners in 2019: 45,000 property sales
Sales to foreigners in 2020: 40,000 property sales
Sales to foreigners in 2021: 30,000 property sales by August
FOREIGNERS BUY MOST REAL ESTATE IN TURKEY
According to the research, the ranking of foreign countries buying the most real estate in Turkey was also determined. Accordingly, Iraqis were the nations that bought the most real estate in Turkey. The number of homes bought by Iraqis reached 33,000. Iraqis were followed by Iranians with 18,000 properties, Saudi Arabians with 13,000 properties and Russians with 12,000 properties.
After the Russians, the top-selling nations in Turkey are:
5- Kuwait
6- Afghans
7- Germans
8- The British
9- Jordanians
10- Egyptians
11- Kazakhs
12- Ukrainians
13- Sweden
14- Yemenis
15- Palestinians
16- Lebanese
17- Americans
18- Chinese
MOST FOREIGNERS IN TURKEY PREFER ISTANBUL
Istanbul was the region where foreigners bought the most property in Turkey. 38 percent of total sales were made in Istanbul. The cities with the highest property sales to foreigners in Turkey are as follows:
1- İstanbul
2- Antalya
3- Bursa
4- Ankara
5- İzmir
6- Yalova
7- Sakarya
8- Aydın
9- Muğla
10- Mersin
11- Trabzon
12- Samsun
You can contact us to enjoy real estate advantages in Turkey and find answers to your questions, and you can become a property owner in a short time by using our services. Investing in Turkey, you can get a return in a short period of time and become a citizen of the Republic of Turkey with an investment of more than $250,000.
As a citizen of the Republic of Turkey, you can travel to 65 countries visa-free, reach 108 countries with or without a visa at border crossings, and acquire citizenship of the Republic of Turkey, which is at the 53rd level of freedom of travel in the world.
