As a Foreigner, Can I Buy Property in Turkey? - Here is the answer
Turkey is a rising star of the foreign direct investment. This short answer implies that the answer of “As a foreigner, can i buy property in Turkey?” is yes, you can buy property, real estate in Turkey. But, we guess, you need to know more about Turkey, how you can buy it and more. Let’s dive into the details. Firstly, let us give the comprehensive answer to your question.
Can Foreigners Buy Property in Turkey or Not?
Foreigners can buy property in Turkey.
- Foreigners can buy real estate, commercial property, land, agricultural lands, etc.
- If the person will buy land without any construction and if he/she wants to make construction on the land he/she needs to apply to a related government institution.
- On the other hand, a foreigner can buy a maximum of 30 hectares of land. Yet, this number increased by the cabinet.
- And a foreigner can’t buy real estate in restricted military zones or can’t rent real estate in military security zones.
Why buying property is a good opportunity in Turkey?
Turkey is a rising star in the real estate market and foreign direct investment. The government's target for 2023 is to capture 1.5% of the world market. It means that there will be more opportunities for foreigners in 2023.
Is it good time to buy property in Turkey?
On the other hand, the real estate market is facing inflation all over the world. We can say that the situation is the same in Turkey. Yet, also it means that if you want to invest in property, in Turkey you need to move quickly.
Rising inflation is affecting real estate prices. Constructing new buildings is getting harder because of the financing bottlenecks and the existing ones are getting much more expensive. In this sense, real estate investment is a lucrative investment in the long-run.
Turkey has a special place in this regard. The Turkish real estate market is very lively and provides a variety of options to invest in. You can read more about Real Estate Market and Turkey - What to Expect?
What is the advantage of buying property in Turkey?
Buying property, making real estate investments in Turkey has a lot of advantages. Let’s go one by one.
Buying property in Turkey can open the doors of obtaining Turkish citizenship. But you need to buy real property worth at least 400,000 USD. You can buy more than one property but the total investment needs to be at least 400,000 USD. When you are applying for Turkish citizenship you need to apply with all the properties that you invested for getting Turkish citizenship.
We will cover this topic in a different article. Stay tuned.
Turkish residence permit
Also you can use this investment to get a Turkish residence permit. Foreigners who have bought real estate in Turkey have the right to get a Turkish residence permit with their family.
On the other hand, getting Turkish citizenship by investment requires having a Turkish residence permit. You can get detailed information from our “How to get a Turkish residence permit?” article.
Reasonable prices and high return on investment
You can find property for sale in Turkey with reasonable prices and with high return investment rates. For example, the average value of a property for sale in Antalya was almost 750.000 TL in December 2021, but today the average value of a property for sale in Antalya is around 2 million TL (a rise of over %266). You can see the same trend in Istanbul too. Experts predict that this trend will continue in 2023.
You can continue to read the related article by clicking here: Tips for buying real estate in Turkey in 2023.
Find the right property at the rice price with Property in Alanya
Now you know that foreigners can buy property in Turkey and what are the advantages of buying property in Turkey. Now, you can search for your new home. You can navigate to page of properties for sale in Antalya with this link:
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