We continue to compare prospects of permanently moving to Dubai or southern Turkey. This is the third part of our comprehensive review. If you have not yet familiarised yourself with the first and second parts, we recommend starting with them.
Here we will consider everything related to real estate: prices, the challenges of obtaining a residence permit and citizenship, ownership costs, taxes, and more.
Housing price per square metre
Let's start with the basics — housing prices.
They depend on several factors at once: the year of the complex construction, its infrastructure, view from the window, floor, proximity to the sea.
- In Dubai, the price per square metre starts from 2,500 dollars. This is the most budget-friendly housing, away from the city centre. In elite areas like Palm Jumeirah, the price can reach 12,000 dollars or higher. In premium class complexes, a square metre of housing costs from 20,000 dollars.
- Housing in Turkey is cheaper; in Antalya, the cost starts from 900 dollars, in small towns and villages — from 650–700 dollars.
As in Dubai, there are no unfinished constructions in Turkey, and housing is sold with high-quality finishes. If you want to save money, look for options in complexes that were completed 5–7 years ago, or buy an apartment during the construction stage; in the latter case, the price will be 10–20% lower.
Other costs when buying a property
In Turkey, when buying and registering a property, you will need to order and pay for an expert property valuation, which can only be conducted by specialists licensed by Sermaye Piyasası Kurulu. It usually takes no more than 4 working days.
The cost of the evaluation depends on the course — about 250 dollars. In the Cadastral Administration and Tapu, a fee is paid, which is called Döner Sermaye - this is another 70 dollars for foreign citizens.
Also, in Turkey, to register a Tapu for a foreigner, a certificate of currency sale to the state, called DAB is required.
Some banks provide it for free, while others charge a fee of 0.001% of the specified amount in the certificate, which averages around 100 dollars.
If you do not speak Turkish, you will also need a translator, whose services for getting a Tapu will cost 30-40 dollars.
Translation and notarisation of the passport will cost you approximately 35 dollars. If you entrust your agency with your property registration and leave a power of attorney for them, that will cost you around 150 dollars with the translation and certification included.
There's also a one-time tax when buying in Turkey; the tax rate is 4%, and although officially this tax should be paid equally by the buyer and seller, almost always these costs in Turkey fall on the buyer.
However, the tax amount is calculated based on the cadastral value, which is usually much lower than the market value.
There's also a similar tax in Dubai, a one-time fee of 4% of the transaction amount is paid to the Land Department, and when buying in a new building, the developer pays half the sum.
Other costs in Dubai when buying a property include an administrative fee (roughly 150 dollars), and registration fee — 545 dollars if the property is priced up to 137,000 dollars, and double if it's more expensive. A fee for the property ownership certificate, approximately 70 dollars, is payable to the local court, and the document is released within 2–3 days.
Both countries demand fees for professionals who will prepare paperwork for the transaction. This could be either your real estate agent or another specialist, in Dubai it has to be a licensed agent.
Cost of property ownership
In both Dubai and Turkey, one has to pay for the upkeep of the property: this includes services for cleaning communal parts of the housing complex, outdoor areas, security fees, CCTV, swimming pool cleaning and so on.
- In Dubai, the average cost of property upkeep is 20–100 dollars per square metre per year.
- In Turkey, the fee for upkeep is called aidat. For an average-sized flat, you'll typically spend between 15 and 150 dollars per month; rates in premium complexes are higher.
Now for taxes.
- In this matter, Dubai is leading: there are no annual property taxes, nor do you have to pay tax on income from property rental.
- In Turkey, the tax rate is 0.1–0.3% of the property’s cadastral value, depending on the property type. Cadastral, not market value – this is important.
If one were to compare two identical flats in Dubai and Antalya, the cost of annual upkeep with insurance, property management and utility bills in the Emirates would be 2-4 times more expensive.
Residency and citizenship
In Dubai, the equivalent of a residence permit is a residency visa, which can be obtained by purchasing a property costing at least 750,000 dirhams.
If the cost of the property exceeds two million dirhams, the foreigner and their family members can expect to receive a golden visa, valid for 10 years. Any infringement of the law, and the visa may not be extended.
Getting citizenship in the Emirates is much more challenging than in Turkey. It is almost impossible for foreigners unless they have made a significant contribution to the royal family or very large investments.
There is no fixed requirement for the level of investment, each case is considered individually. You will need to renounce the citizenship of your country, as the UAE does not support dual citizenship.
Under the law, the following individuals can apply for Emirati citizenship:
- Women married to a UAE citizen for at least three years, provided that all members of the husband's family give their approval.
- Children of UAE citizens. If the father officially recognises the child, the latter can apply for a passport, but in such a case their civil rights will be limited.
- Foreigners who have been living in the country legally for a certain period. For those from Arab countries, the period is from 7 years; for everyone else, it's from 30 years.
Overall, life in Dubai is most comfortable for UAE citizens. Foreigners without citizenship cannot get good jobs, they are treated with contempt, all social support measures are targeted at Emiratis.
If you wish to become a citizen of Turkey, there should be no particular difficulties.
The main condition is to invest a specific sum into the country's economy. When purchasing real estate, the limit is $400,000. You can acquire one or more properties, residential or commercial real estate, land or flats under construction. There are few constraints.
You'd need to invest a minimum of $500,000 into purchasing government bonds or deposit it in a state bank (in Turkish lira) to qualify for a Turkish passport.
What's crucial: after three years, you can sell your villa or flat, retrieve the deposit or cash out shares in the investment fund, while your citizenship will remain.
You can apply for citizenship for the whole family, including underage children.
A Turkish passport gives visa-free or simplified entry (permitting visa issuance upon arrival) to 110 countries worldwide, including Singapore or Japan. After three years, you can apply for a non-immigrant visa to the USA.
Owners of a Turkish passport can get Schengen in a simplified procedure and move to the UK under a business visa.
We discussed the benefits of Turkish citizenship in detail in a separate article.
There's also a related video on our YouTube channel:
With permanent residence, it's simple: it's granted upon buying property for an amount of $50,000 or $75,000 depending on the region. Not only the buyer but also his or her family members, including children under 18 years of age, get it.
There are separate types of permanent residency through rent, students, humanitarian residency. Foreigners who have lived in the country for at least 8 years with other types of residency can obtain an indefinite residency in Turkey.
Conclusion: Turkey or Dubai?
It's time to sum up our review.
Both Turkey and Dubai can become your second home: they are safe countries, with excellent levels of healthcare and education, well-developed infrastructure.
- Turkey is more liberal in terms of religion; in Dubai, you have to always take care not to accidentally break the law.
- Living in the Emirates is more expensive with higher maintenance and property purchase costs. Hence we genuinely believe that by choosing Turkey, you won't regret it. This country will offer everything you've dreamed of: the chance to enjoy life, be confident in the future - yours and your children's.
The most important thing to bear in mind when wanting to get a Turkish passport is to choose the right investment object.
For that, you need the help of those who work on this issue every day for the last few years – specialists from Tolerance. Hundreds of our clients have already become citizens of warm and hospitable Turkey, and we'll be delighted if you join them!
We'd be happy to answer all your questions. Please contact us via Whatsapp +90 (532) 158 42 44
If you're looking to move permanently or buy a flat in Turkey to enjoy life by the sea, reach out to our specialists who will select the best options for your budget.
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