If you are looking for good reasons or wondering why buying property in Turkey attracts the interest of many foreigners, then take a seat and sit down because Turkey offers much potential to first-time and repeat buyers of many different nationalities.
Indeed, in the last decade, the Turkish real estate industry has grown tremendously, and foreigners have played a substantial part in its growth. But why is the Turkish property market attracting foreigners and what lucrative incentives are on offer?
9 Reasons to Buy Property in Turkey
1: Excellent Value Per Square Meter
Did you know that it is nearly eight times more expensive to buy a property in London than Istanbul? Come away from the busiest city in Turkey and prices get even cheaper. Property prices in Antalya start at 30.000 Euros and this gives the mass potential for lucrative long-term investment. With the current exchange rate of the Turkish Lira versus foreign currencies, now is also an ideal time to buy because you get more for your money. Customers looking for guaranteed rental investment property can also find lucrative opportunities.
2: A Diverse Portfolio
The overhaul of the Turkish property market in the last ten years has boosted its portfolio of studios, apartments, and villas to unbelievable sizes. Whether you want a resale home or are interested in off-plan and new construction, the sky is the limit. From beachfront locations to urban living to remote hideaways, you will definitely find what you are looking for. See our range of property for sale in Turkey.
3: An Easy Buying Process
Buying property in Turkey ten years ago, was a drawn-out process with a long wait for title deeds. However, the Turkish government has streamlined the process and made it easier than ever before. From choosing your home to signing for the title deeds, the process can be completed in as little as a week. All customers of Turkinvest Property Group also have our expertise to fall back on, because we are with you every step of the way. (Read more about the buying process.)
4: Structured Payment Terms
If you want to buy an off-plan or newly constructed home, you can also tap into the structured payment plans ranging from 6 to 60 months. That means in some cases, you have up to five years to pay for your home but can move in and sign for the title deeds before. For first time buyers on a budget, this is also a great incentive because there is 0% interest to pay. We have more than 150 properties for sale that come with structured payment plans and you can see them here.
5. Low Cost of Living
The cost of living in Turkey is half that of the United States and Britain which explains why many foreign property buyers choose to live in Turkey all year round. Don’t think you have to comprise either because the last ten years has also seen improvements in the infrastructure as well as high street shopping and eating industries. One of the biggest lures is that yearly running costs for a property are incredibly cheap, especially for council tax, water, electric, satellite TV and internet connections.
6: Easy Access
Whether you choose to arrive by air, land or sea, Turkey has an expansive transport network that makes getting to and from your home country easy. Millions have been invested in airports around the country, and airlines like Turkish airlines have frequent flight schedules all year round. During summer, there are regular ferry services to all the Greek Islands, and Turkey has also invested in modernization and upgrades of its highways to make driving here quicker than ever before.
7: The Mass of Interest and Activities
One of the lesser mentioned but still significant reasons to buy property in Turkey is the mass of interests and things to do. In all major cities, residents can tap into the cultural and art scenes, while the coastal resorts on the Aegean and Mediterranean have the added benefit of the seaside living, so much of daily life happens in the great outdoors.
Skiing centers are popping up all over the country, and some places like Belek in Antalya and also Çeşme in İzmir have earned themselves a reputation as a hot golfing destination. Lastly, although it is cliché, we must mention the gorgeous climates. Think summer evenings dining alfresco style and days spent by the poolside.
8: High Investment Profile
Turkey has become recently a global hub in terms of investment. Many foreigners investors especially prefer Turkey for big investments. Turkey offers great investment opportunities with increasing new build apartments and houses in the real estate sector. Since 2005, a number of foreign real estate investors entered the Turkish market and they received profitable feedbacks in the short-term. You can be one of them.
9: Turkish Citizenship by Investment
With the decision published on 19.09.2018 on the Turkish Official Gazette, Turkish citizenship began to give directly to foreigners who buy at least 250.000 USD real estate in Turkey. Foreigners can now become Turkish citizens when they buy ready or under construction properties in Turkey worth 250.000 USD. Visit our citizenship in Turkey page for more detailed information and FAQ.
Why not take a look at our Turkey property lists? Alternatively, contact us today if you would like to speak to a sales representative about buying property in Turkey.