Interest in Turkish property from foreign buyers has grown steadily over the last decade. If you're still contemplating investing in properties in this country, let us introduce our selection. We've gathered the top 10 reasons why you should do it now.
Investment benefits for the whole family
Housing in Antalya appreciated by 82% in 2022 alone — those who bought before the price jump made a great profit.
Prices of property continue to rise, meaning your purchase will be profitable and liquid.
Rental prices also rose, so investing for the purpose of generating passive income is also beneficial: if you don't plan to live in Turkey year-round, you can earn well by renting out your property.
Combine this with the possibility of obtaining residency and citizenship, and it follows that purchasing will be a wise investment for you. Citizenship is issued not only to the buyer but also to his family members (spouse and underage children), and you will own the property with an unconditional right of ownership.
Great climate and picturesque nature
Just imagine — no more winter tyres for your car and pre-warming it before trips, no more bulky winter clothes that are too tight to even breathe, much less walk in, no more snowdrifts and frosts.
There are more than 300 sunny days a year in Turkey, so there's no shortage of vitamin D, autumn decrepitude or bad moods due to the weather. And, right next to your new home will be the sea, beautiful at any time of the year.
The only thing you'll have to get used to is the frequent rain from November to February, but this is much better than snowfalls and cold. The average air temperature in southern Turkey in winter is +12°C.
The nature of Turkey is incredibly diverse: beautiful mountains, rivers with waterfalls, coniferous forests, mandarin and olive groves, long sandy and pebble beaches — you can discover new and new places every day here.
It's also important that Turks treat nature very carefully; for instance, on many beaches where turtles lay eggs, it's forbidden to be there in the morning and evening so as not to disturb the inhabitants.
Affordable cost of living
Most food products, services, and everyday goods, as well as petrol, are cheaper in Turkey than in EU countries.
This also applies to utilities, repair work, property tax, and its maintenance costs.
For example, the average size of Aydat (a monthly fee for the maintenance of housing in a complex) ranges from 20 to 50 dollars. Property tax ranges from 0.1–0.3% of the cadastral value.
In Turkey, approximately 500 - 600 dollars are enough for a comfortable life for one person excluding rent, and that's with regular visits to cafes and restaurants. Life is more expensive in Istanbul and cheaper in cities that are being discovered by tourists and foreign buyers - like Mersin.
Despite Turkey's relatively high inflation rate in recent years, prices in general are lower than in other European countries. Local fruits and vegetables, as well as clothing, are particularly inexpensive.
Wide range of properties
As our experience shows, one can find accommodations even with a relatively low budget.
You can also save money by purchasing a property while it is still being constructed. It's important to understand that buyers take minimal risk here - in Turkey, there are hardly any unfinished or fraudulent housing projects, and most properties are delivered on time.
And quite pleasingly, newly built apartments are handed over with complete internal finishing, sometimes even with appliances. So, for a couple of years, you certainly won't have to wake up or go to sleep to the sound of drilling while all your neighbours carry out renovations.
The cheapest available properties are one-bedroom apartments in complexes that were completed 5 - 8 years ago. There are also luxurious villas for sale with 5 or even 6 bedrooms, large gardens, and private swimming pools.
The cost per square meter of housing depends on the location and facilities of the complex. For Antalya, this is on average 1150 dollars and above. During construction, housing is 10 - 20% cheaper, and most developers offer instalment plans where 30 - 40% of the price is paid immediately, and the rest in equal instalments until the end of the construction.
Well-developed transport infrastructure
There are no problems with public transport in Turkey. There are comfortable intercity buses in operation, as well as flights from domestic airlines, and excellent water and rail links.
There are cycle paths in large cities, so active holiday enthusiasts have plenty of options for cycling.
Urban areas are served by dolmushes - minivans used for public transport. It's also easy to hire a car if you wish.
The roads in the country are good and drivers are generally well-disciplined, so driving here is pleasant and easy.
With international driving licenses, you can drive a car for up to six months after entering the country. After that, you will need to either travel to a neighbouring country (like Georgia), or exchange them for local ones.
Local people are not overly religious
Although nearly 80% of the population identify as Muslims, Turkey is a secular nation.
In reality, only about twenty percent of the residents observe all religious instructions. Young people tend to lean more towards a European lifestyle and dress accordingly.
Religion is taught in schools, but the classes are not compulsory.
Unlike other Muslim countries, there is no problem buying alcohol in Turkey.
It is openly sold in supermarkets, cafes and liquor stores. The main choice of drink is local beer which is quite inexpensive here, and you don't see drunk people on the streets.
Comfortable business environment
To start a business in Turkey, you need to find a public auditor who will help you navigate through all the bureaucratic hoops.
The registration of a Limited Liability Company (LLC) costs about 1500 dollars on average. Sole proprietors can conduct their business without a physical office. In this case, the business owner's registered address, i.e., the rented or purchased apartment, is considered the legal address.
In addition to the above, Turkey has free zones - regions with almost no taxes or customs duties. Even if you're not a citizen, you can still do business in the free zone.
Growing economy
According to statistics, Turkey confidently ranks among the twenty fastest-growing economies in the world.
Even the serious repercussions of an earthquake couldn't derail the country — according to economists, the inflation rate will be lower than projected by the end of the year, and GDP growth will be higher (2.3% versus a 2% forecast from Moody's). The upcoming forecast also looks favourable.
A thriving economy means jobs, wage growth, and an overall improved standard of living. By choosing Turkey for real estate investment, you are choosing a country with numerous growth opportunities – living here is becoming more convenient, safer, and cheaper.
Ease of Assimilation
Of course, moving to another country permanently is always stressful. But in the case of Turkey, it will be minimal.
You'll receive help upon your first request. This support may not always be free, but you'll certainly not be left in trouble, as this is not customary in Muslim culture.
If you also learn the language at least at a conversational level to interact with people, you'll quickly become a beloved customer, guest, or passenger who's always welcome.
It's easy to adjust in Turkey if you put in a bit of effort. Children, in particular, adapt to new conditions very briskly - they are much loved in the country, always being offered treats. For their development, there are a variety of sports clubs, children's playgrounds, and extracurricular activities available.
Children of foreigners with a residence permit are gladly accepted in municipal schools. There are numerous private educational institutions in Turkey where teaching is conducted in English, Russian, Ukrainian, and other languages.
It's also worth mentioning that in Antalya, Alanya, Istanbul, Mersin, and other Turkish cities, a significant number of our compatriots reside, meaning your adaptation to a new country will be comfortable and straightforward.
Unique Historical Heritage
Very few countries can compare with Turkey when it comes to the number of attractions. These are not just remnants from ancient civilisations, but also natural wonders, such as the caves and formations in Cappadocia.
The country takes great care in preserving its cultural heritage: active excavations continue, with found treasures making their way to national (not private) museums where they can be viewed by anyone interested.
Certainly, when speaking of the unique cultural heritage of Turkey, one cannot forget the local cuisine - which was formed under the influence of the Greeks and Romans who once ruled here.
A traditional Turkish breakfast with a variety of appetisers and mandatory hot tea is enough to make you fall in love with Turkish cuisine.
Investing in Turkish real estate and moving here will allow you to see Turkey from a non-tourist perspective. Tolerance will help you find the perfect property for a profitable investment.
We look forward to answering all your questions, contact us on Whatsapp +90 (532) 158 42 44
If you're planning to move permanently or buy an apartment in Turkey and enjoy life by the sea, reach out to our specialists who can find the best options within your budget.
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