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Purchasing a Property in Turkey; The Best Places to Consider

24/05/2022 Daily living in Turkey 2 Purchasing a Property in Turkey;  The Best Places to Consider

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Property buyers in Turkey have a plethora of alternatives and places to choose from, which may be perplexing at times, since fine houses can be found in both large cities and tiny communities. Turkey is a massive country stretching from east to west, with 81 provinces and eight geographical areas. It is the world's 36th biggest country, with a diversified topography, climate, and infrastructure.

Each area of Turkey is unique and appeals to different segments of society. In this article, we will cover prominent locales leading the foreign market housing sector in Turkey, where specific districts have become popular destinations for foreign purchasers owing to outstanding infrastructure, easy access to airports, and western-style designs.

As a result, foreigners seeking the best spot to purchase property in Turkey are joining a thriving market, with numerous places providing a diverse range of off-plan, new-build, and second-hand properties.

A beachfront home, a quaint apartment in a historical district, a brand-new penthouse, or a refurbished cottage are all good options for property purchasers. There are other residences available to fit a variety of budgets and preferences.

Where is the optimal location in Turkey to buy a property?

To be honest, the answer is more convoluted than just choosing one location because Turkey offers purchasers diverse budgets, lifestyle choices, and visions of ideal apartments.

Yet, before we discuss the locations with the highest number of foreign property sales, it is worth noting that three areas top the list: the Mediterranean coast, the Aegean coast, and Istanbul. This is due to a number of factors.

The south and west coastlines of Turkey have long been popular vacation spots. As a result, towns are becoming more universal and less traditional, and, obviously, living on the beach is many people's fantasy.

On the other hand, Istanbul, as Turkey's largest city, provides just about anything and everything, and working expats and foreign property investors are particularly interested in the city's present redevelopment initiatives.

Now let us take a closer look at some of the places that are particularly popular with international investors:

  • Istanbul

Istanbul is Turkey's most important cultural, commercial, financial, and educational center. Because it is the country's largest city, it has two passenger airports. The city has a well-developed infrastructure, which includes numerous shopping choices, beautiful museums and music halls, top-notch fitness centers and beauty salons, as well as daytime and nighttime entertainment options. Furthermore, Istanbul is rapidly changing, and several of its neighborhoods are now undergoing renovations. Experienced investors take advantage of this chance to purchase properties that will shortly appreciate in value.

  • Antalya

This beautiful Mediterranean province is the country's second most popular tourist destination, behind Istanbul. As a result, there is usually a high demand for real estate in this area, although the prices are surprisingly low. All of the conventional urban infrastructure may be found in the city center. There are significant expat populations from several Western nations enjoying the beach resorts.

However, not only Antalya, but also all its cities are extremely touristic. Alanya is particularly popular with investors who acquire flats and cottages to rent out for the season. If you enjoy golf, consider buying a home in Belek, which is the ideal spot in Turkey to practice golf. Side, on the other hand, is ideal for historical sightseeing. Foreigners are increasingly attracted to the Konyaalti neighborhood and Lara beach.

  • Alanya

Although this city is actually a part of the Antalya province, it has its own distinct personality. The Mediterranean climate, natural attractions, and historical heritage make Alanya a destination for tourism. Foreign real estate purchasers are particularly interested in the Mahmutlar Beach neighborhood. Actually, Alanya is becoming more trendy and refined every year.

  • Bodrum

This luxurious resort is situated in the Aegean region. In Bodrum, there is also an airport. Because Bodrum properties for sale attract well-heeled and sophisticated purchasers, you will encounter a lot of westernized Turks as well as foreigners from all over the world. The Turgutreis and Yalikavak resorts have flourished as expat havens.

  • Kalkan

This is another prestigious location in the province of Antalya. The majority of residences here have a sea view, but land is scarce and it is theoretically difficult to build many new residential properties here. Kalkan is well-known for its villas rather than flats.

  • Bursa

It is situated in the country's northwest corner. Bursa is not a coastal resort, but it is one of the country's most industrialized cities, where the majority of Turkey's automobiles are produced. It has primarily attracted Middle Eastern investment thus far. They come here because of the obvious historical, cultural, and gastronomic parallels.

Bursa is set to become a global centre in the next few years after being inscribed on the UNESCO World Heritage List in 2014. Furthermore, an increasing number of foreign and local visitors visit this city each year to ski on the Uludağ Mountain's slopes.

  • Yalova

It is a thermal resort on the coast of the Sea of Marmara, 34 kilometers from Bursa. If you want to save money, consider purchasing a house in Yalova. Because the local property market is just getting started, you will be able to live a more laid-back, relaxed, and easygoing lifestyle here. Nonetheless, Istanbul's rush and bustle is only an hour away.

  • Trabzon

It is an unspoiled natural resort on the Black Sea coast of northeastern Turkey. It is one of the most important cities in the Black Sea area. In terms of population, economics, culture, and historical tourism, Trabzon has a plethora of freshly constructed flats and villas. As there are large plot areas available for building, real estate may be deemed inexpensive. People who want to spend their money on buying houses in Trabzon should do it now since property values are expected to climb in the next few years, according to property experts.

  • Dalyan

It is located on Turkey's south-west coast in Mula Province, between the districts of Marmaris and Fethiye. Nature lovers are also drawn to this southwest coast city. Buyers in Akkaya want properties with lake views. Tourists come to see the Lycian stone graves and take mud baths. Dalyan has an airport and is well-connected by bus to the rest of Turkey.

Advantages of purchasing real estate in Turkey

Foreign investors can find plenty of opportunities in Turkey's real estate sector. Moreover, Turkey seeks to encourage investors by offering Turkish citizenship in exchange for real estate investment; offering a variety of budget-friendly alternatives; a simpler buying and ownership procedure; and a favorable currency rate. According to a survey conducted by international real estate investment firm Remote Ventures, Turkey scored 14th among the world's most beneficial real estate markets for foreigners in 2020.

In Turkey's real estate market, foreigners of various nationalities take advantage of these chances. Despite the epidemic, more than 45,000 residences were sold to foreigners in Turkey in 2020, according to the Turkish Statistical Institute.

  • Turkish residency and citizenship by investing in real estate

One of the most essential advantages for foreigners buying properties in Turkey is that they will be able to gain Turkish residence and citizenship. Any foreigner who owns immovable property in Turkey is allowed to request residence. However, if foreigners want to obtain Turkish citizenship, they must purchase property in Turkey worth $250,000 and hold it for at least three years.

  • Budget-friendly options

In Turkey, anyone can find an apartment that meets his budget. Investors have a variety of budgetary possibilities because of the Turkish Lira's current exchange rate and widespread availability in the real estate market. It is extremely likely that you will locate your future home in either a modern metropolis or a tiny town. As a result, everybody may locate an apartment that fits his or her budget.

  • Full ownership status

Foreign nationals can also benefit from a streamlined real estate acquisition process and full ownership of their property in Turkey. Foreigners are permitted to purchase freehold property and are free to remodel or sell it whenever they choose. As is known, Turkey is one of the few nations that allows foreigners to possess 100% of their property.

  • Value for money

Foreign investors from the EU or the US will notice that purchasing property in Turkey is far less expensive than in the EU. Because there, even if the property's price is modest, taxes and any renovations will increase the cost. You get good value for money in Turkey, where property is quite cheap compared to the EU or the US. Taking into account the currency rate, the money can only be used to purchase an apartment in the EU or the US, but it may be used to purchase a large property in Turkey with more than three bedrooms.

  • Cost of living

Turkey's cost of living is also far lower than that of the EU or the United States. Electricity and gas, as well as transportation, groceries, and other necessities, are significantly less expensive. In addition, if your house requires any modifications, the cost of upkeep is quite low.

Buying Turkish property: tips and advices

Determining where to purchase your property is a personal choice, but you may get some ideas by looking through our collection of apartments and villas for sale in Turkey. Reading our "guide to buying property in Turkey" may also be beneficial.

The straightforward Turkish property purchase procedure is simple to follow and half the bother when compared to other nations, although it helps to be prepared. We discuss additional expenses, contracts, solicitors, interpreters, powers of attorney, capital gains tax, and other important matters. Alternatively, you may contact us through e-mail, phone, or by visiting our office to chat with an experienced and local sales professional. If you choose to email or text us, please let us know your budget and preferred places, and we will send you a portfolio of current houses for sale that you would enjoy.

Keywords:

Turkey real estate

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