Buying property and investing in Turkey
Turkey is one of the popular and lovely countries that welcomes foreign tourists and investors every year. Numerous amenities and suitable weather conditions have sent many people from different countries including Russia, Iraq, Poland, Kuwait, Iran and even European countries to live in Turkey. In addition, special facilities for investment in the real estate sector have caused Turkey to witness a significant boom in this field in recent years. Buying real estate in Turkey and investing in real estate is very important for those who intend to obtain residency or citizenship in this country. If you also want to buy a property in Turkey and are not familiar with the rules, we recommend that you do not neglect to read the rest of this article.
The importance of buying property in Turkey
Since buying property and renting it out can bring a lot of benefits and in the long run, it can bring a lot of profit to property owners, investing in this sector will undoubtedly boost your economic situation. The reason for encouraging the purchase of property in Turkey and investing in it is because of the importance and emphasis that the Turkish government places on it. Based on this, investment in real estate compared to foreign currencies in the last year (according to the data of Indexa, Endesksa) dollar 75%, euro 58%, sterling 55% has increased the percentage yield, while the houses sold 181 % shows the rate increase. In general, due to the necessity of real estate in the GDP of this country and the development of real estate in Turkey, especially in luxury and expensive areas, whispers of encouragement to this profitable purchase continue.
It goes without saying that the existence of amenities, health and educational services in urban and developed areas is considered one of the positive aspects of real estate in Turkey and is a factor that assures buyers that they can own a property at a reasonable cost and by renting the said property that Compared to Iran and neighboring countries, it is relatively expensive to provide for the future of their children.
Ranking of different cities in Turkey for buying and investing in real estate
In recent years, the purchase of real estate in Turkey has experienced an upward growth. According to the available statistics, Istanbul, Izmir, Antalya, Ankara, and Alanya are the first cities in Turkey for purchasing real estate. In the following, we briefly mention the best features of a city.
1- Buying a property in Istanbul
This large and famous city of Turkey has become one of the best cities for real estate investment due to its educational opportunities, health facilities and advanced infrastructure. The expansion of Istanbul and the presence of new areas in it have provided a new opportunity to foreigners and have increased the number of buyers and investors in this city. The new areas of Istanbul can be divided into two parts.
– The European part, which is in a good position in terms of trade, is one of the important areas for investment. This section itself includes several valuable areas, which we mention in a subset of them
– The European part, which is in a good position in terms of trade, is one of the important areas for investment. This section itself includes several valuable areas, which we mention in a subset of them
– Majidieh Koi
– Besiktas
– Virgin
– Snivert
– Bilicdozo
– Bahce Shahir
– The Anatolian (Asian) sector, which is another important area of Istanbul, has become an emerging platform for large and profitable investments. Below are some of the important regions of Anatolia that have received most of the investment
– Atashhir
– Kadikoy
– Oscodar
Baghdad Road
– Sariyer and Maltepe.
New rules of residence through the purchase of property in Turkey
– According to the law passed in April 2022, the minimum property price for obtaining residence through the purchase of property in Turkey in big cities is 75,000 dollars and 50,000 dollars in small cities.
– The minimum purchase price of a property in Turkey to obtain a Turkish passport and citizenship is 400,000 US dollars. In order to maintain a Turkish passport, the purchased property must not be sold or transferred for 3 years.
Property purchase restrictions for foreigners
– It is not possible to buy more than 30 hectares from the lands of the Republic of Turkey.
– The lands of security and military areas cannot be purchased.
– If the property is purchased against the laws of Turkey or if it is not approved by the competent authorities, the transaction will be canceled.
– Failure to notify the Ministry of the completion of the project will also invalidate the purchase and transaction of the property.
-Foreign citizens have up to two years to build the land.
– Foreigners are allowed to buy up to 10% of the land and properties in each district of the city
last word
Complete knowledge from zero to one hundred buying and investing in real estate in Turkey will not only make matters easier, but will also make you satisfied. Therefore, if you want to buy real estate in Turkey more than ever, it is necessary to familiarize yourself with the other criteria and the required documents. Contact experienced experts and specialist consultants for free consultation and review of conditions to choose the best option.
In this context, the real estate department of MGG Holding is ready to respond to you with the best services and advice throughout Turkey, especially in Istanbul.