Key Benefits of Buying Real Estate in Turkey

The Turkish Republic is generating significant interest among foreign real estate buyers. Currently, property in Turkey is being acquired by individuals from nearly every corner of the world. While each foreign investor has their unique reasons for choosing Turkey, there are common factors that distinguish all purchasers of Turkish real estate.

Rising Property Values

Property prices in Turkey are experiencing rapid growth. In 2022, the country was recognized for having the highest increase in property values worldwide. However, this is far from a drawback for foreigners; quite the opposite, as this price surge indicates that investments in real estate are secure and potentially lucrative. Moreover, selling a property after some time can yield substantial profits. Therefore, it's a highly advantageous and reliable investment, far more profitable than traditional bank accounts. This is a significant advantage for investors from other countries who wish to preserve and grow their wealth.

Low Taxes

Turkey imposes relatively low taxes on both the purchase and ownership of real estate. For instance, a mere 4% is levied for title deed (TAPU) registration during property acquisition. Importantly, this sum is calculated based on the cadastral value, which is consistently lower (often significantly) than the market value of the property. Furthermore, an annual tax of 0.1% to 0.3% of the property's value, again based on the cadastral price, is required. These straightforward tax structures make property transactions in Turkey appealing and transparent. However, it's essential to engage a reliable agency providing comprehensive legal support for foreign investors.

Residential Developments

The quality of construction by Turkish firms is renowned globally. Turks are known for their reliability, and each residential complex resembles a self-contained mini-city. These complexes include amenities like pools, playgrounds, Turkish baths (hamams), fitness centers, cinemas, and spa salons. These complexes also feature secure parking facilities.

Infrastructure Development

Even in smaller towns in Turkey, you'll find well-maintained roads and essential infrastructure elements such as schools, hospitals, kindergartens, and shops. Moreover, authorities regularly invest in the beautification and maintenance of public areas. Turkey is always in a state of progress, and life here is genuinely comfortable for people of all ages.

Residence Permits and Citizenship

Turkey remains one of the very few countries where property ownership can lead to citizenship. To become a Turkish citizen, one needs to purchase any property worth at least 400,000 dollars in the country. Citizenship can be applied for immediately after the property transaction is completed. Additionally, property ownership in Turkey also grants a residence permit. However, it's important to note that some areas have restrictions on granting residence permits to foreign buyers. Realtors can provide guidance on these details.

Promising Future

Turkey is a country in rapid development, gaining increasing influence on the global stage. It boasts excellent universities, a robust healthcare system, and significant opportunities for those looking to start their businesses. In short, Turkey offers comfort and prospects for both the young and old, children and their parents.

Furthermore, Turkey maintains a stable economy marked by consistent growth. This is another substantial advantage for foreign investors who not only acquire residential and commercial properties in the country but also invest their capital in companies and industries.