Natalie When considering why you should buy property in Turkey, there are plenty of reasons in your favour. International house buyers might not think of Turkey first, yet, the country offers stunning countryside, historical significance, and excellent investment potential. In addition, Turkey is home to long stretches of perfect white sand beaches along the Mediterranean and Aegean Seas, and the weather is warm year-round. Let’s look at other reasons for foreign house buyers to look at Turkey.
Why Buy Property in Turkey?
1: Affordable Property Prices
Look at property for sale in Spain and then compare the house value to the same type of property in Turkey, and you will be pleasantly surprised. For roughly 20 years, Turkey has attracted many foreign buyers outpriced from countries like Spain, France, and Portugal. But, of course, Turkey does luxury properties with style and finesse, and while those homes sell for millions, comparing prices per square meter makes the value easy to see. The reason for the Turkish lira affordability is that Turkey only started re-modelling the real estate market at the turn of the century; hence the market is still in its infancy.
2: New Developments
The Turkish government implemented schemes to encourage foreign real estate growth, and experts agreed that Turkish property is suitable for mid to long-term investing. The Turkish government hopes to attract new local and international buyers and has approved many new developments. Most sit in Istanbul’s outskirt districts that are modernising themselves into growing neighbourhoods. (Where to buy property in Istanbul.) However, new developments also feature in other popular places to buy, including Antakya, Fethiye, Bursa and Bodrum.
3: Cost of Living in Turkey
Turkey offers superb food, a low cost of living, and sunny weather. Who would not want to live there? Turkey’s daily cost of living is lower than in Spain, Portugal, or France. The overhead charges in Turkey are lower than elsewhere, with cheap water and electricity. Taxes are lower than in Spain, as are running costs. This is without even factoring in prices in bars, restaurants, and shops.
4: Turkish Citizenship Investor Scheme
While this scheme is not for everybody, Turkey’s real estate citizenship program is cheaper and easier to gain than in other countries. By investing in Turkish real estate, applicants can receive the same rights as Turks, and don’t need to live on a residence permit. This is ideal for those looking to retire or relocate to sunnier climes altogether. All applicants must do is buy a property worth 400,000 USD or more and keep it for three years. The permit scheme attracts international buyers from across the globe, especially those hoping to relocate, whether for climate, safety, or economic reasons. In addition, the citizenship via investment scheme enables potential expats to move with minimal permit fuss—guide to the Turkish citizenship program.
5: Transport Links
Over the last decade, Turkey invested billions into upgrading airports. As a result, Mediterranean coast property purchasers fly into either the award-winning air travel hubs of Antalya or Dalaman. Likewise, for the Aegean coast with Bodrum or Izmir airports. The jewel, though, is Istanbul’s new airport, that when complete, will be the world’s biggest air travel hub with year-round global flights to more than 350 destinations. In addition, Turkey built more modern bridges and motorways, so getting to your property is quicker and easier once out of the airport.
6: Long-Term Investment
For foreigners who want good investments, Turkey has much buying potential. As a guide, Turkey is not the country to be flipping houses, especially for foreigners who do not know regional markets. However, there is much potential for mid-to-long-term investment, especially when comparing prices with Portugal, Spain, or Cyprus. Additionally, while buying property in some countries involves hefty budgets for purchasing costs, Turkey introduced several incentives to keep costs down. For example, regarding real estate capital gains, keep the property for five years, and you do not have to pay any. (Is Turkish property a good investment?)
7: Easy Legal Buying Process
Look at other countries, and the property buying process is long and drawn out. Often taking months to complete, the home buying process involves numerous red tape. However, if the finances and property paperwork are ready, home buyers in Turkey receive title deeds in as little as seven days. Additionally, the utility connection is fast, and most stores deliver furniture within the same day. This means you can be in your home in Turkey in no time.
8: Many Destinations in Turkey
There are only a few destinations in Turkey where foreigners cannot buy property. Most foreign house sales connected to investment happen in Istanbul, the hub of economy and business. While most property sales for holiday home use or rental occur along the Aegean and Mediterranean coasts in areas like Fethiye, Bodrum, and the Antalya region. In recent years, Middle eastern nationalities have also flocked to residences in the northern coast and areas like Bursa or Trabzon. Turkey offers many choices when choosing where to buy property.
9: Architecture and Housing Options
The vast and varied real estate portfolio includes million-pound mansions in Yalikavak or the Bosphorus to budget apartments in Altinkum and Alanya. Whether looking at resale homes, off-plan developments, or new builds, the choice is there. Additionally, look at most off-plan developments or homes built within the last ten years, and architectural styles combine modern trends. So there is no need to compromise on what you want to buy.
10: Turkish Lifestyle Experience
Turkey appeals to many foreigners because the lifestyle perfectly combines traditional values with modern lifestyles. The family structure is vital, as is hospitality and homemade food. Neighbours will knock with invites for tea. Passing strangers in the street exchange pleasantries, and community values matter. However, Turkey strives to provide the best in modern lifestyles and is vastly different from how the country was 20 years ago. Shopping, nightlife, and leisure facilities are plentiful. Then gorgeous landscapes, sandy beaches, landscapes of natural beauty and delightful weather climates wow everyone, regardless of age or social background.
11: Safe Buying Process
Many people ask Google if Turkey is a safe country to buy property. Yes, property buyers are protected if they follow legal guidelines. Turkey’s tight laws and regulations ensure foreigners get their title deeds quickly, as Turks do. Use a solicitor, get contracts notarised, only use licensed estate agents, don’t hand over money in cash, and do local research—more about whether it is safe to buy a property in Turkey.
Also About Turkey
Property in Turkey: To see the full range of apartments and villas for sale across the country, browse our portfolio. Each listing includes price, location, home features and contact details to arrange viewings or receive more information via email. Alternatively, contact us today to speak with an agent about why you should buy property in Turkey, and find out more about our service.
Best Places to Buy Property in Turkey: First-time buyers eager to know the best places to buy property in Turkey may be overwhelmed by the vast amount of destinations open to them, from the leading cities to small villages. Three areas top the list; the Mediterranean coast, the Aegean coast and Istanbul, the hub of Turkey.
