The beauty of nature and the unsurpassed flavor of Turkey have long captivated the hearts of Russian-speaking and European citizens. The Republic of Turkey is loved and known for its azure sea, wide picturesque beaches, favorable climate, welcoming atmosphere and quality service. Here you can fully enjoy the grandeur of Istanbul's architecture, discover the healing springs of Pamukkale, watch the sunrise in a hot air balloon in Cappadocia, or simply enjoy life in beautiful Alanya.
Thousands of tourists come to the resort country every year for a quality beach holiday and positive emotions. For foreign investors planning their investments for years to come, this is a compelling argument: buying real estate in Turkey – profitable investment of capital.
TOP 10 reasons for Turkey's investment attractiveness
Confirmation of the popularity of investment in real estate in Turkey – active development of the housing and construction sector, an increase in the number of purchase and sale transactions and the continuous rise in prices for residential and commercial properties. The number of not only local, but also foreign investors who choose the Republic of Turkey as a place to save and increase their financial savings is growing.
There are really many reasons to invest in Turkish real estate. We have collected for you the 10 most compelling arguments in favor of buying a resort property:
1. Opportunity to become the owner of a dream apartment by the sea
Investing in real estate in Turkey – For many buyers, this is, without exaggeration, a real opportunity to acquire their own piece of paradise on the Mediterranean coast. And, first of all, because to purchase Turkish apartments you do not need to own huge capital and be in the Forbes rating. At a very reasonable price, you can buy a cozy, comfortable apartment in Alanya, Antalya or Mersin for holidays or permanent residence.
2. Stable economic development of Turkey
Despite record inflation, according to the Financial Times and the Turkish Institute of Statistics, the economy of the Republic of Turkey grew by 7.6% in 2022 due to large export volumes. Among the G20 states Turkey's economic growth is the largest.
The Turkish government has chosen to prioritize financial stability, increasing the general welfare of residents and the number of jobs, rather than fighting inflation. Thus, Turkish real estate remains a reliable way to profitably invest capital.
3. Good conditions for investment
The laws governing foreign capital in Turkey are among the most comfortable in the world. The Turkish government strives to attract as much foreign funds as possible into the economy, therefore it strongly supports investors from abroad and provides them with equal conditions as the owners of national capital. The priority areas for the authorities, after the industrial and scientific industries, are tourism, construction and real estate sales.
4. Prosperity of international tourism
Having set a record for the number of tourists in 2019, the Republic of Turkey, by decision of the UN World Tourism Organization, took 6th place in the ranking of the most visited countries in the world.
The increase in tourist flow continues. Thus, according to the Ministry of Culture and Tourism of Turkey, in the first 6 months of 2022 alone, 16.3 million tourists came to the resort country, which is 186% more than during the same period in 2021. The more vacationers there are in Turkey, the higher and more stable the income of investors who invest in real estate. In particular, owners can receive passive income from renting out apartments.
5. Profitable investment schemes
Investing in Turkish real estate – This is the use of various options for generating passive income:
- Renting an apartment under guaranteed rental conditions from a real estate company. All issues related to the search for tenants and property management will be taken care of by the staff of the real estate agency.
- Purchase of apartments in hotel complexes.
- Purchase of housing in a residential complex under construction for resale upon completion of construction work.
Which investment scheme to choose depends on your budget and goals. We recommend that you first consult and enlist the support of specialists from an experienced certified real estate agency Point Property.
6. Residence permit and Turkish citizenship for investment in real estate
Purchasing a villa or apartment in Turkey guarantees you legal residence in the country based on a residence permit or citizenship:
- Tourist residence permit is issued to foreign owners regardless of the cost of the apartment. A residence permit on the basis of TAPU can be issued if the cadastral value of the property is at least $200,000 in lire equivalent at the time of its registration (these changes came into force on October 16, 2023).
- Turkish citizenship for investment in real estate can be obtained by purchasing one or more properties in amount from 400,000 US dollars. This refers to the cadastral, not the market value of housing. "Golden" the passport is available to foreigners under a simplified and expedited scheme.
7. Large selection of attractive investment properties
The construction industry in the eastern country is actively developing, which guarantees buyers a large selection of different offers. Investment real estate in Turkey is presented:
- ready-made and under construction apartments;
- penthouses on the first coastline;
- luxury villas with private garden and swimming pool;
- inexpensive apartments with designer renovations and other facilities.
8. High profitability
Are you planning to purchase an apartment in Turkey for subsequent rental? With the right approach to choice, this guarantees you a profit of about 3–15% per annum. The high profitability of a property directly depends on its location, characteristics and competent management. The participation of specialists from a reliable real estate company will allow you to choose the best option for purchase and increase your passive income.
Profit from the resale of apartments under construction depends on the stage at which the transaction was concluded. The difference in price at the start of sales and the finished object is about 20–30%.
9. Comfortable taxation
Investing in Turkey – This is a comfortable taxation. Turkish taxes are divided into one-time and permanent:
- The one-time tax or fee for registering property rights is 4% of the cadastral value of the property and is paid by the buyer at the time of the transaction. As a rule, the cadastral price of apartments is always lower than the market price.
- Fixed fees include an annual property tax, the amount of which depends on the type and location of the property. For residential property, the tax amount – 0.2% of the cadastral value.
Taxes in Turkey, compared to European resort countries, are low, and this is another compelling argument in favor of investment.
10. Favorable forecasts of market experts
According to expert forecasts, the housing market of the Republic of Turkey will experience positive dynamics over the next few years. This concerns not only the activity of the construction sector, but also the increase in the volume of foreign investment and rising prices. Against the backdrop of the difficult geopolitical situation in the world, Turkey will continue to attract investors from abroad with acceptable purchase conditions, security, and the opportunity to preserve and increase their savings.
Do you want to profitably invest your capital in Turkish real estate? Pay attention to finding a liquid property on the market and contact Point Property for help. We will select the ideal option for you on the primary or secondary market, organize competent management when leasing or help you resell the property at a favorable price.
These materials have been prepared for informational purposes and are not of a commercial nature.
Point Property – is a certified real estate agency that specializes in providing a full range of real estate services for residential and commercial real estate transactions in Turkey. Our company takes care of all the organizational aspects of a real estate transaction: searching for an object, organizing a sightseeing tour, assistance in collecting documents and checking the legal purity of documentation, support during the re-registration of ownership. In addition, we provide our customers with a wide range of after-sales services.
