What Are the Advantages of Investing in Real Estate 2021?
As a foreigner, you can ask yourself the question “Should I buy real estate in Turkey?”. Turkey is one of the best countries to buy real estate for living and investing. It offers unique purchasing opportunities for foreigners.
The most reliable and risk-free way to invest is to buy real estate. The real estate purchased in Turkey does not lose value over time, on the contrary, it adds value to its value. Investments made in Turkey with its developing economy offer profitable investment opportunities in the future.
The real estate market in Turkey, which has developed greatly in the last 10 years, attracts great attention from foreigners. In this article, we answered the question “What are the advantages of investing in real estate in Turkey?” for our foreign clients. What do the real estate market in Turkey and the Turkish government offer to foreigners? What advantages await foreigners who buy real estate in Turkey in 2021?
Advantages of Investing in Real Estate in Turkey for Foreigners in 2021
- Turkish Citizenship
With the regulations made in 2018, citizenship through real estate investment in Turkey was reduced from 1.000.000 USD to 250.000 USD. Accordingly, foreign nationals who have purchased 250.000 USD or more of a residence or workplace in Turkey can apply for Turkish citizenship together with their spouse and children (under 18 years of age). A foreigner who acquires Turkish citizenship through real estate investment does not have to live in Turkey. An annotation is put on the real estate purchased by a foreigner who buys real estate for Turkish citizenship so that it will not be sold for 3 years. If the person wishes, he/she can live in the real estate during this period, rent it and earn income, or sell it 3 years later and earn a profit.
"Turkish citizenship through real estate amount is increased from 250 thousand to 400 thousand dollars. The new decision about Turkish citizenship came into force on 13 June 2022."
A foreigner who acquires Turkish citizenship can benefit from all the privileges of being a Turkish citizen. With a Turkish passport, you can travel to 110 countries without a visa, and can easily get a Schengen Visa, which allows free movement in European countries.
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- Residence Permit in Turkey
Turkey is one of the best countries in the world to live in. Its location, nature, and historical and cultural structure attract foreigners from many parts of the world. The easiest way to obtain a residence permit in Turkey for foreigners who want to live in here is to buy real estate in Turkey. The Turkish Government grants the right to obtain a residence permit to foreigners who buy real estate in Turkey. You can apply for a residence permit through real estate in Turkey with your family (spouse and children under 18). A foreigner who has a residence permit in Turkey can benefit from many opportunities. For example, the child of a foreigner who has a child of school age can receive free education in public schools. A foreigner residing in Turkey with a residence permit can benefit from basic health services free of charge. A residence permit in Turkey cannot replace a work permit. A foreigner who wants to work in Turkey must obtain a work permit. A foreigner residing in Turkey with a residence permit can easily look for a job and obtain a work permit.
In addition, foreigners with a residence permit in Turkey have the opportunity to purchase motor vehicles, export furniture and vehicles, register with social security, and establish a company.
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- Affordable Real Estate Prices in Turkey
Real estates for sale in Turkey have very reasonable prices compared to their counterparts in European countries and America. Even in cities such as Istanbul, Ankara, Antalya, and Izmir, which have the highest real estate prices in Turkey, real estate prices are more affordable than in many other parts of the world. Real estate investment, which offers high profitable investment opportunities in the long term, attracts a high rate of foreigners. With the increasing exchange rate, you can buy a sea view flat in Istanbul for 250.000 USD and become a Turkish citizen at the same time.
The temporary depreciation of the Turkish lira against the dollar in recent years has created an opportunity for foreigners to purchase advantageous real estate. With this temporary loss of value, 2021 is the right time for foreign investors to invest in real estate in Turkey!
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- Modern and Luxury Homes for Sale in Turkey
With the Covid-19 outbreak, which affects the whole world, the demanded housing options have also changed greatly. While small, one-room apartments were preferred for investment before the coronavirus pandemic, larger houses with large balconies or gardens were preferred as of 2021. Turkey has a large real estate market that offers very luxurious and modern options to buyers in demanded new housing types. New houses built in Turkey, which has one of the most developed construction sectors in the world, are also designed in line with this demand. Almost all of the newly built residences have luxury social facilities such as a swimming pool, spa, and gym. It is possible to have real estates that provide all these luxury opportunities at a more affordable price in Turkey compared to other countries and metropolises of the world.
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- Advantageous and Easy Payment Terms
In the last 10 years, the real estate sector in Turkey has developed to a large extent with the intense demand it has seen. The developing real estate sector offers a wide range of real estate for every budget and demand. Many construction companies in Turkey offer suitable payment options to investors.
It is possible to buy a house in a residential complex that is in the project phase or has just been completed, with installment options ranging from 6 to 60 months without the need to take a loan from the bank.
- Social and Cultural Opportunities in Turkey
There are many opportunities for social activities to be done all over Turkey. In Turkey, where each city offers a different beauty, there are all kinds of social opportunities from sports activities to cultural activities, concerts, and entertainment. In the country, which has hosted various civilizations for centuries, the density of historical and cultural heritage is quite high. The sacred values of people of many nationalities and religions are found in these lands, and they host millions of visitors every year.
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- Advanced Transportation Options
Turkey has a very important strategic position in the world. Turkey, which acts as a bridge between the East and the West, has landed in both Europe and Asia. Transportation from Turkey to both European and Asian countries is easily provided by land, sea, sea, and airway. With its advanced transportation infrastructure and large airports, there are direct flights from Turkey to many countries in the world. Considering that you own a house in Istanbul today, it means that you will have the opportunity to reach 249 different cities in 110 countries by direct flight from Istanbul Airport.
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We talked about the many advantages of investing in real estate in Turkey in 2021 for foreigners. When investing in real estate in Turkey, attention should be paid to the characteristics of the region where the real estate is located, the rate of increase in value in the region, and the prices of the surrounding properties. To determine these, it is of great importance to work with an experienced and professional real estate consultant who knows the region well. The expert and experienced sales consultants of Diyar Turk Real Estate are always ready to give you the best service before and after sales.
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.