Where to buy a house – Turkey or Spain?

You decided to get a house by the sea. At first you thought that hotel rest or trips to the sea and living in the leased apartment is the best option, then you learned that now buying real estate abroad isn’t a problem, and sometimes even simpler, than in the homeland, then you began to learn additional information and here, at last, you can't think of anything else any more: market condition changes, and now’s the best time for purchase. It could seem that the most difficult steps are already behind you. But what country to choose? We already did a similar comparison with Bulgaria – often considered in some way the competitor of Turkey. Now we will try to compare two such beautiful countries, which offer real estate to foreigners on the Mediterranean Sea, as Turkey and Spain.

Both of these countries have rich history, the Mediterranean resorts are treated kindly by a bright sun which doesn't suffice to us in our gloomy Homeland, and attract a great number of tourists. It is fine if you already happened both in Spain, and in Turkey and you can compare. Then this article will help you to understand legislative distinctions and terminology subtleties. If you weren't here or were only in one of the countries, we will try to share their most important features.

At first about common features:

High transport availability: flight from Europe lasts about 2-3 hours both to Barcelona or Alicante, and to Antalya or Dalamang (getting to Turkish resorts takes on average 3 hours, to Spanish – 3,5-4 hours).
Goodwill and friendliness of local population to foreigners. Certainly, nobody wants to make investments in resort real estate and to be the object of attention due to clothes, skin colour or behaviour.
Fine climate, long season, quiet and tender sea. Turkey is practically at the same latitude, as Spain (39º and 40º respectively), and it means that the average temperature of January and July here are approximately identical. However in Turkey there is an opportunity to choose not only Mediterranean, but also more cool Aegean Sea if you don't like the exhausting heat.
Benefit of investments. Apartments in Turkey were traditionally much cheaper, than in Spain, and also Turkish real estate costs less if directly on the first line, compared to Spain. Now the difference is that in Spain apartments on the first coastline are on sale from the owner, and in the Turkish resorts on the seashore it is possible to get absolutely new from the developer.

The house in Turkey

Дом в Турции

Important difference is the legislation of two of these countries. Spain is part of the EU, and it means that as for a trip on a choice and real estate registration, and to potential tenants of your real estate or the relatives who have arrived may need a visa. In Turkey such problem doesn't exist – citizens of Russia and the majority of CIS and European countries can stay on the territory of Turkey from 30 to 60 days at a time (it is necessary to monitor this as often as possible, terms change depending on a season) and no more than 90 days within 180 day period.

If you become the owner of real estate in Spain, you have the right for visa registration, in Turkey – to receive residence permit. The visa needs to be prolonged constantly at the embassy in the homeland, the residence permit, once received, at the Turkish Embassy in the homeland for a year and then freely in Turkey, or once a year for half a year turns out in Turkey. In five years of accommodation not less than half a year during a year and a constant extension of residence permit, it is possible to apply for nationality. In Spain to obtain nationality it is very problematic. In more detail about residence permit in Turkey you can read here.

Transport availability of both of these countries very high, however air tickets to Spain are 25-30% more expensive, than to Turkey where even charters fly all year round from the large cities of all countries. Other important distinctive feature of Turkey is transfer of the well-known quality of service and care of clients in hotels or large complexes, some of which don't concede to the well-known five-stars hotels. The mortgage to foreigners is given practically on the same conditions: for 50% of the estimated cost of real estate under its pledge when providing simple documents. In Spain a credit rate is about 5% per annum in euro, in Turkey – 7%.

One of the most important advantages of Turkey is the constant rise in prices for real estate within the last two years, however in Alanya, for example, it is possible to get the apartment within walking distance from the sea at the price starting from €50,000 while in Spain for a complex in 1 km from the sea it is necessary to splash out not less than €70,000 (and it will be a secondary option), plus the market of resort real estate (because of general European crisis) is in deep recession.

Author: RestProperty

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Published: 07.12.2012