There are many reasons to buy a property in Turkey that attract foreigners from all over the world.
Buying a property in Turkey was significantly different from other countries in terms of modernization and innovation.
The fault was in the local market because mortgages were not available in the past.
Turkey has changed and developed now, the banks have made the mortgage a prominent factor in their work, and the construction sector has embarked on a huge campaign to modernize the housings.
The real estate market has witnessed many changes and updates in legal regulations since 2003, in order to establish great facilities for the long-term investment in Turkey and Istanbul.
With these developments in the real estate market in Turkey, there are many advantages to buy properties in Turkey.
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Best reasons to buy a property in Turkey
The following are the most important reasons related to buying a property in Turkey for the purpose of:
1- Housing is more affordable
Low house prices quickly attract foreigners of different nationalities to buy a property in Istanbul. Also, luxury properties are available in Turkey.
For example, on the Aegean coast, it is very easy to find a furnished two-bedroom apartment with a suitable budget.
The low prices have enabled many foreigners and investors to buy the property directly without mortgages or bank credit.
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2- Great benefits and safe investment
There are also luxury homes overlooking the sea that contain all the latest modern designs, and this type encourages buyers to buy apartments in Istanbul for specific business reasons or to establish a company.
3- Long-term investment in Turkey
For those who are looking for a long-term investment, real estate investment in Turkey and in Istanbul in particular encourage buyers to get a profitable return.
Experts often recommend investors to invest in Turkey, as real estate sector is very vital and encouraging in Turkey.
Property prices have reached an average that suits everyone, and through the annual maintenance, the property that is well taken care of in Turkey, has huge potential to achieve a great return on long-term investment.
4- You can enjoy the lifestyle in Turkey
The comfortable lifestyle attracts people and investors undoubtedly to buy a property in Turkey, most of them prefer the coastal cities of the Aegean and the Mediterranean to enjoy the sea views and the peaceful life there.
Read more: Questions about Turkish citizenship
5- Living costs are lower
For buyers who love Turkey, one of the reasons for buying a property in Turkey was the lower cost of living.
Although red meat and gasoline are expensive, a weekly shop can be cheap if you visit local markets to buy items such as fruits, vegetables, cheese, and olives.
About household bills, there’s no TV license, and utilities like water can cost £7 (or about $1) a month, depending on the usage.
Read more: Owning the Turkish Citizenship and Passport
6- Turkey strategic location
Turkey is ranked thirty-seventh among the world’s largest countries, and attracts foreign buyers and investors to buy properties in its cities, especially in Istanbul.
The famous places in Turkey include the Bodrum peninsula, which is often visited by wealthy celebrities, and has stunning views.
Read more: Important tips to buy properties in Turkey
7- Food and culture in Turkey
Apart from the convenient lifestyle and low cost of living, foreigners also prefer the Turkish food, culture and hospitality as the main reasons for buying property in Turkey.
The kitchen still places on fresh ingredients to create delicious home-cooked meals, and is similar to the Mediterranean diet, which is known as the healthiest in the world.
Turkish culture and hospitality are also encouraging reasons for foreigners to buy an apartment in Turkey.
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8- A quick and easy ownership process
Foreigners were able to buy properties in Turkey for the first time in 2001, and since that time, the authorities have been reviewing and simplifying the process of investment and housing for Arabs and foreigners.
9- Easy process to buy a property in Turkey
You can buy a property in Turkey easily by contacting a real estate company, and a lawyer to make sure about all your rights. It is very important to choose a trustworthy real estate company to advise you and help you from the first step of buying a property in Turkey.
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10- Residency and citizenship
Foreigners can now obtain Turkish citizenship and passport easily by investing in real estate in Turkey, and buying a property or more for $250.000 or above, and it is essential to get the title deed “Tapu” from the property you bought in order to get the Turkish citizenship.
Of course, when buying a property in Turkey, you will get the Turkish residence permit from the government to enjoy all the rights as Turkish citizens.
Read more: Property tax in Turkey 2022 Full Detail
Do you know what the benefit of buying a property in Istanbul? Contact me to find out why!