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12 Reasons to Buy Real Estate in Türkiye;

The Turkish real estate sector has undergone a modernization process since the 2000s, aiming to quickly adapt to innovations. A large part of the goal of attracting foreign investors is achieved through the real estate sector. Turkey, in particular, attracts foreign investors due to its geographical location, natural resources, cultural mosaic, and many other advantages.

It attracts interest. So, what are the advantages of investing in real estate in Türkiye for foreigners? We have compiled them for you.

1- Obtaining Turkish Citizenship

The most significant advantage of purchasing real estate in Türkiye is the possibility of obtaining citizenship. Foreigners who own real estate worth at least US$400,000 in Türkiye are granted the right to apply for Turkish citizenship. The individual who owns this property, their spouse, and children under the age of 18 can also apply for Turkish citizenship.

This process, which allows you to obtain a Turkish passport through investment, does not require you to reside in Türkiye. While the purchased property cannot be sold to another party for at least three years, it can be rented out to generate income. After three years, the sales ban is lifted.

2- Residence Permit

In Türkiye, those who own real estate, their spouses, and their children under the age of 18 are granted residence permits. Holders of residence permits have rights such as establishing companies, purchasing motor vehicles, attending state schools, and benefiting from state-provided healthcare services. These advantages make buying real estate in Türkiye very attractive.

3- Cheap real estate compared to Europe.

Real estate prices in Türkiye are much cheaper than in Europe. For example, in Istanbul, the metropolis and most expensive city in Türkiye, properties are eight times more affordable than in London. Therefore, citizens of European countries often choose to own a home in Türkiye to ensure a comfortable retirement.

The real estate sector in Türkiye offers a very wide range of options. The availability of properties to suit every budget makes Türkiye an attractive place to buy real estate.

4-Low Cost of Living

For those planning to buy real estate and live in a foreign country, the cost of living in that country is one of the most important factors to consider. Türkiye is quite advantageous in terms of cost of living compared to many other countries.

According to the 2023 data from Mercer's annual global cost of living survey, Istanbul ranked 185th among 227 cities across five continents. The fact that Istanbul, which was ranked 156th in 2020, climbed to 185th place during a period when economies were hit hard by the Covid-19 pandemic, indicates that the cost of living in Istanbul continues to be relatively affordable.

https://www.mercer.com/tr-tr/insights/total-rewards/talent-mobility-insights/cost-of-living/

5-Return on Investment

The real estate sector is ideal for long-term investments. In Türkiye, the advantages are even greater due to lower costs compared to other countries. Homes that undergo annual maintenance and necessary renovations can be used as long-term investments in Türkiye, yielding significant returns. 

In May 2023, the HPI increased by 3.6 percent compared to the previous month, and by 103.6 percent nominally and 45.0 percent in real terms compared to the same month of the previous year.

Click here for the Housing Price Index report!

Buying real estate in Türkiye is therefore considered a very good investment.

6-Geographical Location

Serving as a bridge between Eastern and Western countries, Turkey's location, almost in the center of the world, is geographically ideal. Many countries can be reached with just one flight. It stands out in terms of transportation, offering both air and sea routes.

7- Wonderful Climate

Thanks to its location in the mid-latitude zone, Türkiye is one of the few countries where all four seasons can be experienced with their distinct beauty.

8-History

Turkey, with its rich history, harbors the remnants of many cultures within its borders. Anatolian lands, which have hosted numerous civilizations throughout history, offer many places to visit, including Cappadocia, Pamukkale, the ancient city of Ephesus, Safranbolu, and Göbeklitepe, which has recently attracted worldwide attention through its discoveries.

9-Food Culture

If you are looking to buy real estate to live in a country, its culinary culture will of course be important to you. Turkish cuisine, with its 2,205 regional dishes, is among the richest cuisines in the world. Besides its variety of dishes, Türkiye offers numerous options for healthy and balanced nutrition, making it quite easy for foreigners to live there.

10- Warm and Hospitable People

People from Anatolia are known throughout the world for their warmth and hospitality. In Turkish culture, guests are highly valued. Turkish people continue the tradition of their ancestors, who built inns, baths, and caravanserais to accommodate travelers in ancient times.

11- Quality of Service in the Healthcare Sector

One of the areas where Türkiye stands out, especially compared to European countries, is the healthcare sector. Operating under a social welfare state model, the state provides fully equipped healthcare services to the public through its own healthcare institutions. The Family Medicine system, which forms the first level of healthcare, has established Family Health Centers in every neighborhood, and each citizen is assigned a family doctor. From these points where basic healthcare services are provided, patients are referred to fully equipped healthcare institutions if necessary.

12-Cultural Diversity

Due to its location right in the middle of Europe and Asia, Turkey boasts a rich cultural diversity. It is one of the few countries where people who embrace a secular lifestyle and those who prefer a conservative way of life can live in peace and harmony, without anyone interfering with anyone's lifestyle.

With all these features, buying real estate in Türkiye is quite attractive in terms of investment and quality of life.[/vc_column_text][/vc_column][/vc_row]