What are the advantages of buying a property in Turkey
Why Do Foreigners Prefer to Buy Real Estate in Turkey?
Turkey has become a country that attracts foreign investors with its strategic location, natural and cultural riches, advanced transportation opportunities, welfare and secular living climate, advanced trade and tourism activities, colorful entertainment, and social life. The value of investments made in Turkey, which always offers new and advantageous opportunities to foreign real estate investors with its stable economy, has been preserved and increased. Despite the economic fluctuations experienced in the last year, political and social issues, and the Covid-19 pandemic, the real estate sector in Turkey has continued to grow and develop.
Every year, thousands of foreign investors buy real estate in Turkey. Living in Turkey, which can be reached from all over the world with only one flight, is the dream of thousands of people. Geographical location and ease of transportation are the most important reasons why foreigners prefer Turkey when buying a house.
Foreigners who buy real estate in Turkey encounter many advantageous opportunities. In this article, we will answer the question "What are the advantages of buying property in Turkey?" for foreigners.
What are the advantages of buying property in Turkey?
- Turkish Citizenship
Turkish citizenship through real estate in Turkey is defined by the Turkish Government as a right to foreigners. Turkish citizenship by investment in 2021 can be easily acquired. A foreigner who wants to become a Turkish citizen by investment can apply for citizenship with his/her family (spouse and children under 18). There is no obligation to live in Turkey in the process of Turkish citizenship by investment. Property purchased for Turkish citizenship cannot be sold for 3 years, but rental income can be obtained. When the 3 years are passed, the real estate can be sold if desired. A foreigner who is a Turkish citizen through real estate is entitled to obtain a Turkish passport. It is possible to travel to 110 countries without a visa with a Turkish passport.
For a more detailed look at the advantages of Turkish citizenship, you can check our article: Difference Between Turkish Citizenship and Residence Permit in Turkey
- Residence Permit in Turkey
Foreigners who buy real estate in Turkey are given a residence permit by the Turkish Government with their families (spouse and children under 18). Foreigners living in Turkey with a residence permit can buy motor vehicles, export furniture, and vehicles, establish a company, and have their children get free education in public schools. Foreigners who have lived in Turkey for 5 years with a residence permit can apply for Turkish citizenship. A residence permit does not replace a work permit, but a foreigner with a residence permit can easily find a job and obtain a work permit.
For more detailed information about residence permits in Turkey, you can check our article: Residence Permit in Turkey
- Geolocation and advanced transportation options
Turkey is a country with a very important strategic position in the world. Turkey, which acts as a bridge between East and West and is located in the center of the world, can be reached in almost all countries with only one flight distance. The newly built Istanbul Airport in Turkey, which has developed transportation infrastructure, will be the largest airport in the world when it is completed. Foreigners who buy real estate in Istanbul can easily reach any part of the world their want. Istanbul, which has a very important location not only for those who want to live but also for those who want to trade, offers great convenience in terms of transportation.
For more detailed information about Istanbul Airport, you can check our article: Istanbul Airport
- Social and cultural opportunities
Each province of Turkey has various social and cultural opportunities. Many opportunities such as sports activities, cultural events, entertainment, festivals, concerts, theatres, etc. are available in every province of Turkey. Also, there are various traditional festivals such as Kirkpinar Oil Wrestling, Adana Orange Festival, Kakava Festival, and Istanbul Film Festival, which are held every year in many cities. In addition to all these, there are many opportunities to visit and spend time in daily life.
For more detailed information about places to visit in Istanbul, you can check out our article: 12 Places Must Visit in Beyoğlu
- Range of affordable and luxury real estate
The real estate sector in Turkey, which attracts great attention from investors thanks to its advantageous location, is fairly developed. The increasing number of foreign investors with the Reciprocity Law enacted in 2012 had a positive impact on the Turkish construction industry. With the increasing demand, the number of newly built projects in Turkey has increased, and modern and luxury projects have started to be built. Most of the housing projects built in Turkey have luxury social facilities such as smart home systems, swimming pools, sports fields, gyms, spas, and Turkish baths. Real estate with very luxurious social facilities and interior equipment is sold at affordable prices compared to many European countries.
To be aware of the advantages of living in a residential complex in a metropolis like Istanbul, you can check out our article: Buying a Flat in a Residential Complex in Istanbul
- Turkish lira and exchange rate
The Turkish Lira, which is one of the strongest currencies in the world, can be negatively affected by many factors such as political issues, foreign policy attitudes, and the uncertainty created by the Covid-19 pandemic, from time to time. These situations, in which the Turkish lira experiences temporary depreciation, offer great opportunities for foreigners who want to invest in Turkey. With the Turkish lira depreciating against the dollar, real estate prices in Turkey become very attractive for foreigners.
For more detailed information about real estate prices in Turkey, you can check our article: Real estate prices in Turkey
- Cost of living in Turkey
Life in Turkey is cheaper compared to many countries in Europe and the world. In Turkey, where agriculture and animal husbandry are developed, fresh vegetables, fruits, meat, and dairy products are easily accessible at affordable prices. Also, foreigners whose income is from abroad lead a comfortable and prosperous life in Turkey due to the exchange rate.
For more detailed information about life in Turkey, you can check out our article: About Turkey
- Secular and prosperous life
Turkey, which has hosted many civilizations throughout history, has people from many nationalities, races, and religions. The mixed and multicultural life in Turkey, which is a cosmopolitan country where people from different ethnic groups live together in peace, is one of the most important factors attracting foreign investors.
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 opportunity to live a quality life in the country, which offers various opportunities in 4 seasons.
Buying real estate in Turkey, which is located in a very important and strategic location, is advantageous in many ways. When you decide to buy a property in Turkey, working with a professional real estate consultant will make your job easier in many ways and will protect you from wasting time and money. Diyar Turk Real Estate is always ready to help with its experienced and professional team.
Please do not hesitate to ask any questions you may have. You can contact us via our website or email@example.com e-mail address.