Turkey attracts more and more tourists every year. Foreigners consider this country not only as a resort but also as a place for permanent residence and business development.
One of the ways to invest in Turkey is in real estate - you can buy an inexpensive apartment or villa through our agency.
Foreigners are very active in the Turkish real estate market.
Pros of buying a home in Turkey
Buying property in Turkey is worth the following reasons:
The country is attractive for low housing taxes.
1. Warm climate. Even in the northern regions of the country, the average temperature in January is about + 5 ° C, in the summer months about + 22-26 ° C. In southern Turkey, in winter the temperature rarely drops below + 15 ° C. The swimming season there lasts six months: from May to October. At the end of spring, cucumbers, tomatoes, and strawberries are grown in open ground are already on sale.
2. Good environmental conditions. In-resort areas, beaches are clean, not polluted by emissions from factories. Even in megacities, the air is fresh, because local businesses are taking steps to protect the environment.
3. Developed infrastructure. The cities have transport connections: by bus, tram or metro you can get to your desired area. Thanks to entertainment and shopping centres, restaurants, cafes, playgrounds, parks, consumer services, in Turkey you can not only relax well but also live permanently.
4. Entrepreneurs in the service sector are open to employing foreign-speaking staff. The authorities are taking measures so that vacationers can quickly adapt to new conditions: organize cultural events and meetings for visitors, facilitate the opening of foreign speaking schools and kindergartens.
5. Excellent transport links with Europe. Many Turkish carriers organize trips all over the world. Aeroplanes regularly fly to Antalya, Istanbul and Bodrum and back. These cities can be reached from anywhere in Turkey thanks to the domestic transport network.
6. No need to obtain a visa to stay in Turkey foreign citizens can stay in the country for 90 days if they have a valid passport, this is enough time to choose a city and find suitable housing.
7. The opportunity to obtain a residence permit after buying a home. Owners of any real estate can apply for this document.
Those who purchase real estate worth $1 million or more have the right to become citizens of the country.
8. Low prices. An apartment with one bedroom will cost $ 35 thousand, with 2 - from $ 70 thousand. Clothing and food are also cheaper than in Europe. For example, you can have dinner at a restaurant in the resort area for $ 10-15.
9. Small additional costs after the purchase of housing Apply to insurance, registration and translation of documents, notarial and legal support (about 2% of the cost of housing), property transfer tax (2% of the property price) and stamp duty (0.75% of the property value).
10. An opportunity to take a mortgage. Foreigners can get 50% of the amount necessary for the purchase of housing at 7-9% per annum. An application for a loan is available on the website of the selected bank by filling out a questionnaire.
What real estate is available in Turkey
Apartments represent the housing market in new buildings and secondary housing. Real estate, which has already had an owner, is 30% cheaper than new. In residential complexes built after 2000, there is a swimming pool or gym for all residents. For this service, there is a maintenance charge paid separately.
Housing facilities in coastal areas are in popular demand. There you can buy a villa.
If you want to build a house yourself, it is better to choose a plot of land; foreigners can buy up to 30 hectares.
Recently townhouses have been constructed in large Turkish cities - cottages connected by a common wall, due to this, the cost of construction is reduced. Residents are not dependent on other people, because they have the opportunity to use a separate entrance to their part of the building.
In duplexes - 2 houses have separate entrances, combined under one roof; two families live independently of each other. Part of the duplex will be cheaper than a villa, but more expensive than a townhouse.
Duplex or townhouse prices depend on location, and when it was built and renovated, it can be between $ 100-300 thousand.
Foreigners can buy any property except for places crucial to the country's security (such as the Black Sea coast and border areas).
Commercial real estate in Turkey is also in demand. Foreigners not only rent housing but also open a cafe or equip their company's office in large cities.
Popular cities for buying real estate
A suitable property can be found in many areas of Turkey.
The following cities are popular:
- Alanya is a resort town, which can be reached by a direct flight. The cost of 1 m² of housing in the secondary market is low - € 600. Tourists and investors from all over the world come here. People from Europe settle in Oba, Kestal and Mahmutlar. In Alanya, there are kindergartens and schools in which teach in foreign languages.
- Antalya is a city with a well-developed infrastructure. Real estate is in high demand. For one m² you will have to pay € 700. The purchased apartment can be rented not only to numerous tourists but also to students.
- Istanbul has a large number of attractions (such as Topkapi, Grand Bazaar, Blue Mosque, St. Sophia Cathedral, etc.), so there are a lot of tourists. Purchased rental housing will not be idle, because many come to the city to study and work. One m² of a property will cost € 900-1000.
- Kemer is on the Mediterranean coast of the country. This small, cosy city is suitable for families with children. They sell not only apartments but also a large number of villas. The price range starts from € 1000 per 1 m².
- Fethiye is a city by the sea, in which there are many coniferous forests. Real estate here is in demand among Europeans. This peaceful area is primarily visited by the British. One m² cost about € 1,100. For a relatively low price, you can buy a villa with separate access to the sea.
- Bursa is the former capital of the Ottoman Empire. Now it is a big city where you can buy an apartment for € 60-200 thousand or a house for € 250 thousand or more.
- Izmir is one of the top three largest cities in Turkey located in the west of the country. Izmir has not only resorts but also international business centres. Housing is expensive. For one m² you will have to pay from € 1,500. The price of real estate reflects its popularity.
- Yalova is a region in which there are mineral and thermal springs. It sells villas located on the coast of the Sea of Marmara. One m² is expensive (€ 1000-2000).
- Avsallar is a small city that attracts foreigners with clean sandy beaches. A lot of housing is sold here and also used for rented income. You can find an apartment or studio for € 30 thousand or more.
- Ankara is the capital of Turkey. The cost of real estate here depends more on the location. An apartment in the old district can be from € 40 thousand, in the affluent new areas, housing is between € 80-100 thousand.
You can find options in small settlements by the sea for the price of € 250-400 per 1 m². Such facilities are more suitable for living than for renting or doing business.
Low-cost real estate prices cause increased demand.
What determines the cost of housing
Real estate prices depend on factors such as:
- The purpose of the premises (commercial or residential) and its area
- The presence or absence of previous owners
- Land value for the property (from € 300 to € 80 thousand per 100 m² depending on the distance to the sea)
- Quality of materials used in construction
- Internal infrastructure (the presence of a pool, gym, cinema, underground parking in a residential complex, etc.)
- Location (including the size of the city, transport in it, cultural life, availability of jobs, proximity to the sea)
- Repair and internal equipment of the apartment (quality of walls, floors, furniture and appliances).
On average, one m² of housing in the secondary market costs 630 Euro, in a new building - 800 Euros. A private house for 205,000 Euros. Turkish commercial real estate is more expensive (1650 Euro for one m²).