Foreign citizens increasingly prefer real estate in Turkey as an item of investment or a source of extra income. Given that many visitors go to Turkish resorts several times a year, their own house or apartment in this sunny country can become an alternative to their usual summer residence.
Buying property for sale in Turkey is an opportunity to live in a sunny coastal area by the sea without any restrictions. The sound of the surf is calming, the landscapes give peace of mind, and the warm, salty air fills the body with good health. Having your own home here means you do not have to comply with hotels rules and schedules, leaving plenty of time to enjoy the environment of the Mediterranean.
Turkey is one of the few countries that has a border on Asia and Europe. Its culture is a harmonious mix of Asian flavour and western freedom, fragrant spices, airy chiffon, antique architecture and flowering gardens. Visiting this country regularly, you can travel to both parts of the world, get acquainted with ancient cities, monuments of Byzantine civilization, natural and cultural sites. These are Pamukkale, caves of Cappadocia, the ruins of Hierapolis, the blazing Chimaera - known as Burning Rock and much more.
Foreigners are attracted by the hospitality of the Turkish people and the national cuisine, rich in aromas of spices, colours of vegetables and fruits, juicy kebabs from all kinds of meat. Even street food here deserves your special attention. Strolling along the evening promenade of the Bosphorus, you can dine on freshly caught and cooked charcoal fish. And an early breakfast cannot be enjoyed here without a crispy simit with soft cheese and olives.
There is a teahouse here on every Street corner. And the most flavourful coffee is brewed in old coffee houses. You are gradually plunged into the atmosphere of this fabulous country, living here day after day, you can discover for yourself all the colours of Asian flavour, warmth and openness.
Having become an owner of housing in the Republic of Turkey, you can obtain citizenship, live permanently or come to the country on vacation.
A visa-free regime for many countries will allow you to freely cross the border without any bureaucratic delays.
Having decided to buy a property in Turkey, you need to appreciate the local population. It is essential to maintain good neighbourly relations. Often, villas here are part of villages, the inhabitants will spend some time together solving pressing problems, celebrating holidays, and visiting each other.
Old and new residential complexes are built in much the same style.
There is everything necessary you need for a comfortable life: private pools, sports grounds, barbecue areas, hammams and steam rooms, playgrounds, cafes and restaurants.
Thanks to this design, the residents spend a lot of time together, communicate closely and are friends of families. In such circumstances, adjustment to life in a new country is smooth, fast and without problems.
When choosing an apartment, you should give preference to one where the developer takes on the job of servicing the complex after completion of construction. To "save face" and attract future customers, such companies will maintain the building in good condition, paying attention to cleanliness and comfort in their homes, giving a positive atmosphere among residents.
According to the results of recent studies in 2019, Foreigners became the most active buyers of real estate in Turkey.
The share of sales contracts increased by 26%. Experts attribute this to the simplification of the procedure for obtaining Turkish citizenship.
One of the economic reasons for this jump was the increase in demand; another was strengthening the Turkish lira against the dollar by 13.5% in 2019.
The growing popularity of Turkish real estate among foreigners is also due to the abolition of the "principle of reciprocity", according to which permission to purchase is obtained only by citizens of countries that provide a similar right to citizens of the Republic of Turkey. Local legislation also qualifies real estate acquisition as an investment in the economy, so you can get a residence permit after entering into ownership.
If the purchase price exceeds $250.000 - immediately citizenship.
Many foreigners buy villas or apartments in Istanbul, Izmir and other large cities for rental. Thus, they provide themselves with an extra income. This is also beneficial for investment since real estate here is continuously growing in price and is highly profitable. Owners receive rental income in foreign currency, which reduces the risks associated with fluctuations in exchange rates.
Turkey offers several types of real estate for purchase to foreigners.
An Apartment can be a penthouse with access to a flat roof, a stylish loft, a two-story duplex or a cosy one-room studio.
One of the most popular cities in Turkey among foreigners in Istanbul. It's the heart of the country's economic and cultural life. New residential complexes with equipped infrastructure are commissioned weekly. Branches of international companies open here. Holidays and festivals, political forums are held. It attracts millions of tourists who would like to become part of this maelstrom of events and opportunities.
Equally famous is sunny Antalya, the salty breeze, the warm sea, the picturesque mountains and the numerous foreigners will make adaptability to a new culture quick and easy.
The local climate allows you to forget about chronic respiratory diseases, transferring the disease to the stage of persistent remission. There is no winter; in the cold season, the air temperature rarely drops below + 16ºС. At any time, you can catch a ferry and go on an exciting journey to Cyprus.
Advantages include comprehensive improvement of residential areas, affordable prices for food and services, a large selection of ready-made multı apartment complexes and villas are under construction.
Also, foreign citizens love to settle in the ancient city of Izmir, which once bore the name of Smyrna. Here the natural landmark of Pamukkale, the castle of Kadifekale, where Alexander the Great stayed, the Kemeralt market and the Izmir wildlife park are found.
Fethiye is a small port city hidden on the turquoise coast of Turkey. On the one hand, it is washed by the clear blue water of the lagoon, and on the other, it is framed by the foot of the mountains with cedar and pine forests. The sun shines here 285 days a year. There are no large industries, and the population is around 84 thousand people. All this makes Fethiye a wonderful secluded place with great summers and mild winters.
Traditionally, real estate in Bodrum, which is located on the coast of the Aegean Sea in the province of Muğla, is in high demand. In ancient times, on the site of this tourist town was located the rich capital of Caria - Halicarnassus with its famous mausoleum. Now the Turkish government is investing heavily in the development of Bodrum. Many thousands of sailing and active nightlife enthusiasts come here every year.
Property prices in Turkey are significantly lower than in Europe. A significant advantage is a warm climate, mild winters, proximity to the sea, well-equipped infrastructure and many other opportunities that living in a developed prosperous country gives.
So, an apartment of 110 square meters in Mahmutlar on the first coastline will cost between 64,000 and 116,000 Euros. Apartments are 150 square meters in Istanbul (Sariyer) can be purchased for 420,000 -580,000 Euros. A cozy apartment 2 + 1 with furniture in Izmir will cost 46,000- 70,000 Euro’s.
A small one-story house in the resort of Didim can be bought for 35,000 – 60,000 Euro. Kargicak, a village near Alanya, also offer properties at similar prices. The cost of villas in Konakli starts at 50,000 Euros. In Avsallar – from 60,000 Euro. A house located on the Bodrum coast, with an outdoor pool and a cosy barbecue area, will cost from 60,000 to 115,000 Euros. The most expensive cottages are located in the Istanbul districts of Sariyer, Beykoz, Kirechburnu. Prices for them reach up to 8 million Euro.
Having decided to settle in the Republic of Turkey, some foreigners buy housing and commercial real estate, which brings them income and prosperity. So a promoted sports hall in the centre of Antalya will cost 30,000 – 50,000 Euro. The same amount would be the purchase of a room in the hotel Akbuke. Panoramic views of the sea, landscapes, mild climate, warm Aegean Sea. There are also many attractions from the ancient era that provide a steady flow of tourists and high rental income from such real estate.
A small store in Didim can be bought for 110,000 – 140,000 Euro. And the prices for offices in Istanbul start at 140,000 Euro.
Briefly, the conditions for buying Turkish real estate for foreigners are as follows:
The purchase process begins with a visit to the region you like, the city, its infrastructure and local features. At the same time, you can look at the finished or under residential construction complexes. In our company, you can take a familiarization tour, in which you can get comprehensive information about the project, ask questions of interest, and evaluate the seller's trustworthiness.
Our managers will help you navigate a future transaction's bureaucratic intricacies and legal nuances. Our responsibilities are to select projects according to the client's request, show them, check for "cleanliness", draw up a sales contract and collect a package of documents to obtain a certificate of ownership (TAPU). If desired, the client can order services for further rental, the connection of communications or repair in new apartments.
The contract sale indicates data of the buyer and seller, the features of the project and the deadline. Only 1 document is required from a foreign citizen - a passport.
Both copies are filled out in English and Turkish and are notarized.
If the buyer wants to reserve the project, a deposit of about 1000-3000 euros will be required, depending on the property's value. After this, the project is reserved and withdrawn from sale. The advance amount is entered into the contract; the fines for violation of the agreement are also indicated. No penalty is applied if the buyer changes his mind and wishes to transfer the deposit to another project.
To apply for a TAPU, a foreigner must have:
Turkish tax number: it is useful for opening a bank account and for concluding agreements for utilities;
As additional services, our company will do the follow up of your upcoming fees and bills. If you leave a deposit in your bank account, you can arrange automatic payments.
At the next stage, the buyer pays the seller in cash or by bank transfer. After that, TAPU is drawn up and agreements are concluded with utilities.
When deciding on such a crucial step as acquiring a villa or apartment in a foreign country, it is important to enlist the support of a reliable partner in the person of a realtor. Our Summer Home agency provides comprehensive consulting services, selection of real estate, verification of its 'cleanliness', execution of all legal documents and further support for clients who want to establish a life in a hospitable Turkey.
Our company is licensed and has all the permits issued by the Chamber of Commerce and the Tax Service. Each of our employees graduated from real estate courses, is fluent in many languages and has extensive experience in resolving complex issues related to the purchase and registration of real estate in Turkey.
Over many years, we have established ourselves as a developer of residential complexes, which are popular with foreigners.
Each of our projects goes through the approval process and receives the entire permits package. Information about this is published on our website: summerhomes.com.
Construction is carried out to comply with all safety standards and use modern building materials. At all stages: from laying the foundation to completion, from selecting options to obtaining TAPU - a guide for us is a future owner who will enjoy a comfortable and cosy life.
This information was written in 2020. In the future, the prices of properties might change. Therefore Summer Homes is not accountable for these differences and this information can not be used as a reference against us or other companies.