Buying property in Turkey is a gradually increasing trend in the last decade. Turkey has always been a desirable destination for many with its spectacular history, culture, nature, and climate. Following the reciprocity law introduced in 2013, sales of international residential property in Turkey grew dramatically. The reason why a foreigner would like to invest in or move to Turkey has one simple answer. Turkey is a favorable country for investment and lifestyle.
The decision to buy or invest in a property is all about deciding whether this action would be beneficial to you in the long-term or not. But deciding over it is not always as easy as it sounds. However, with the professional guidance of an expert specialized in guiding foreigners who would like to buy property in Turkey and detailed information gathering, Turkey can become your second home country that you’ll be more than welcomed and can widen your world with its colorful culture.
What Is The Appreciation & Return On Investment (ROI) Of A Property In Turkey?
No one would invest in a property in Turkey or in anywhere that likely wouldn’t return any gains in the long term. Therefore the return on investment percentage is one of the most important things to consider when investing in a property. ROI is a ratio (percentage) that compares an investment’s gain or loss relative to its cost. Most real estate experts agree that a reasonable appreciation of real estate should be something over 8 percent, but it’s better to strive for over 10 percent or 12 percent. Turkey is still the leading country of the most favorable property markets in the world. According to the latest Global House Price Index report, Turkey was the country with the highest rate of yearly property price growth in the third quarter of 2020. For the third quarter in a row, Turkey topped the index with an annual price increase of 27.3 percent.
Stability of Market Growth Rate
A real estate economy is mainly based on supply and demand equilibrium. Market growth rate stability is the guarantor of the stability of your earnings. If we take a look at the past statistical data of annual sales rates of property in Turkey, a stable growing line will be seen. According to Turkey Statistical Institute (TURKSTAT), the sales of residential property in Turkey increased by 11.2% in 2020 compared to the previous year. Hence, the number of properties bought last year was 1.499.316 in Turkey. This rate of increase stays either the same being around 10% – 11% or slightly higher each year compared to previous. It’s worth mentioning that 40.812 residential properties were sold to foreigners in 2020. In Istanbul 19.175 sales took place and in Antalya 7.735 sales took place, making the city rank as the second city on the list of house sales to foreigners in 2020.
Durability and Inheritability
The model of real estate markets is a rock-solid market. Because, a property is durable for many decades. Also, not to mention the ground beneath which is simply not destructible. Since properties can last forever and you can’t, what will happen to them after you’re gone?
No worries regardless of where they’re located in all real estate can be inherited. You can will away your property in Turkey to your family. It is possible to repeat this process over and over again for generations to come. Considering the increasing prices of the real estate market over the years, this is one of the most solid and logical investments you can make for the future of your family.
Benefits of Citizenship and Dual Citizenship through the Property in Turkey
In the previous years, an amendment was made to the Regulations Regarding the Implementation of Turkish Citizenship Law. Thanks to that, foreigners are permitted to get Turkish citizenship through the acquisition of a property in Turkey. Plus, Turkish Citizenship Law permits dual citizenship to American, British, and European nationals as well as over 180 foreign nationals worldwide.
Turkish citizenship provides equal access to important benefits for all nationals. 4 of them can be counted and named as core benefits which are working, educational, healthcare, and travel benefits. Buying a property in Turkey will provide you these core benefits.
Work & Education & Healthcare & Travel Benefits
Once you get your Turkish citizenship, it instantly allows you access to educational and healthcare benefits. Of course, it also grants you the right to live and work in Turkey at all times and forever.
But if you have to wait a period of time to get your citizenship, these benefits don’t fade away. Foreigners who purchase property in Turkey may obtain a residence permit. Please note that the owner of the residence permit should extend it in certain periods. Fortunately, they also have the right to obtain a residence permit for their families. Thanks to this residence permit, children of foreigners can get an education in all government schools of Turkey.
In Turkey, companies struggle to get a work permit for a foreign worker who doesn’t have a residence permit. However, if a foreign worker has a residence permit himself/herself it is easier for them to find a job and it is easy for companies to get the work permit.
Turkey raises very high-level physicians and has huge city hospital complexes. All of these city hospitals have state-of-the-art technologies. The coverage of these government hospitals is extremely wide. Most of the operations are free of charge, whereas they are not in foreign countries.
Holders of an ordinary Turkish passport may travel without a visa, or with a visa received upon arrival, to 110 countries, as of 1 January 2019 according to the Visa Restrictions. So, you can travel to all of these countries to create memories for a lifetime.
On a recent investor survey executed by AFIRE (The association for international real estate investors), a vast number of investors say that their investment choices would be impacted by climate problems. Two out of three respondents in the 2020 survey give even higher consideration to the climate of a location when they’re doing investments.
Countries emit drastically different quantities of heat-trapping gasses into the atmosphere which is the main reason for climate change. The name for these destructive gasses is greenhouse gasses, GHG, in general. Turkey’s Energy Efficiency Action Act came into force in 2018. It commits nearly US$11 billion to energy efficiency to reduce GHG. At the 2019 UN Climate Action Summit, Turkey was a co-leader of the assembly discussing zero-carbon buildings. Turkey pledged to convert all existing buildings in the city of Eskişehir to zero emissions by 2050.
Turkey is a country with plenty of sunshine and has a Mediterranean climate. It has mild temperatures and a limited amount of rainfall. The country with a breath-taking environment is a transcontinental country with lands in both Asia and Europe and has been viewed as a crossroads between the two continents.
The country that gave its name to the color of turquoise boasts a total of 486 beaches, 22 marinas, and seven yacht docks with the Blue Flag. Mediterranean tourist hotspot of Antalya bears 206 of them. This makes Antalya the city bearing the highest number of beaches with a blue flag certificate in the world. The country is the third-highest number of beaches in the world with an eco-friendly Blue Flag certification.
Being the 37th largest country in the world, Turkey, the country with a big economy, has world-class cities with stunning coastlines, rich heritage and culture, dynamic demographics, sustainable tourism, extensive facilities for visas and citizenship, and other features. You only need to choose your property in Turkey to start benefiting from all of these.