10 benefits when buying a property in Turkey

Home page  /  Blogs  /  Real Estate Investment articles  /  10 benefits when buying a property in Turkey

10 benefits when buying a property in Turkey

The most important advantages and gains that you will get when buying a property in Turkey

10 benefits when buying a property in Turkey
16th July 2022
  • 2880

When anyone thinks of buying a property, he must look for all the expected benefits from the purchase process, especially if he wants to buy a property in a country other than his.

In our article today, we will talk about the most important benefits to be expected from buying a property in Turkey

 

What are the benefits of buying a property in Turkey?

Real estate in Turkey has witnessed great demand and approval in the recent period due to the many benefits that the Turkish government has linked to buying a property in Turkey on the one hand and on the other hand because of the benefits imposed by the nature of presence in Turkey

 

Real estate residence in Turkey

What is a real estate residence?

It is a document granted to foreigners who buy a property in Turkey

It allows him to legally reside on Turkish territory, and to take advantage of the various advantages available.

 

What are the advantages of real estate residency?

Real estate residence permits its holder to reside legally within Turkey.

A resident of real estate can travel to and from Turkey without the need for a visa, and without fear that the residence will lose its validity once he is transferred.

A resident of real estate in Turkey has the right to grant this residence permit to his wife and children under the age of 18", as they are accompanying him.

Ease of procedures for obtaining real estate residence.

The period of residence is one or two years, and it is easily renewable.

The resident has the right to benefit from the educational services available to Turkish citizens.

The resident is also entitled to benefit from medical services, and discounts on treatment operations like any Turkish citizen.

The residence permit holder can own a private car in Turkey and register it in his name.

The real estate residence permit allows its holder to practice his own business inside Turkey.

It also allows him to open a bank account in Turkish banks, and transfer money through them.

Anyone who resides in Turkey after 5 years can apply for Turkish citizenship, because those who leave Turkey during the five years have more than 180 days.

Real estate residence in Turkey is one of the benefits that in itself brings many other benefits to the foreigner who is coming to buy a property in Turkey.

It is necessary to mention the most important conditions required for obtaining a real estate residence permit, in order to clarify the way for foreigners coming to buy a property in Turkey.

The property must be purchased for residential and not commercial purposes.

It is required that the property be legally registered with the Tapu Department.

It is required that the property be in the name of the person applying for the real estate residence permit.

He must not be of one of the nationalities that the Turkish government prohibits from buying a property in Turkey.

The property must not be in one of the areas in which the Turkish government prohibits ownership.

The value of the property must be at least 75,000 dollars, in order to obtain the real estate residency.

 

The cost of obtaining real estate residency:

The cost of health insurance, which is related to the duration of the health insurance.

The cost of the required papers and documents.

Tax imposed on applicants, which varies according to nationalities.

These are the most important points related to real estate residence in Turkey.

 

Turkish Nationality

The most important benefits associated with buying a property in Turkey for foreigners, applying for Turkish citizenship and enjoying the many advantages available to Turkish citizens, but there are many conditions required to obtain Turkish citizenship from buying a property, including:

The value of the property or group of properties must be at least $400,000.

The buyer undertakes not to sell the property before the lapse of three years from the date of its purchase.

The foreigner obtains a real estate appraisal document for the property for which he applied for Turkish citizenship.

The owner should not be one of the nationalities that the Turkish government prevents from owning it in its real estate.

Regularly registering the property in the Real Estate Department.

Pay the value of the property by bank transfer to a Turkish bank.

The property must be purchased from a Turkish person or a Turkish company.

 

What is a real estate appraisal?

 A document containing a "detailed" report on the condition of the property, from area, location, services and various other details related to the property. The evaluation report states, depending on the property's specifications, the value due to the property in the real estate market.

 

What is the importance of real estate appraisal?

Protecting foreign investors from real estate fraud or the possibility of them being exposed to buying real estate at higher prices than the due value, as a result of not having sufficient experience and information related to the Turkish real estate market.

 

Notes on real estate appraisal:

It is not possible to apply for Turkish citizenship without a real estate appraisal report.

The duration of the real estate appraisal is three years.

The evaluation report is obtained in Turkey within three days.

The real estate appraisal must be issued by a real estate expert working for the Turkish government, or from a real estate company that has a license to issue real estate appraisal reports, otherwise the appraisal shall be considered null.

Real estate appraisal is exempted in case of buying real estate from the Turkish government.

After talking about all the details related to the foreign property owner obtaining Turkish citizenship, we must mention the most important benefits that citizenship brings.

 

Benefits of obtaining Turkish citizenship:

The holder of Turkish citizenship has the right to reside within Turkey and enjoy the full rights of a Turkish citizen.

The right to benefit from free educational and health services, in addition to benefiting from discounts on some treatment cases for Turkish citizens.

The right to own, sell and buy within Turkey.

The right to work and invest is the same as for any Turkish citizen.

Participate in and run for elections.

Turkish citizenship allows its holder to access various state jobs, including special jobs available to Turkish citizens only.

The Turkish government guarantees the holder to benefit from the pension and insurance programs available to Turkish citizens.

The most important point is the dual nationalities

This is due to the possibility of retaining the mother's nationality in addition to the Turkish nationality.

We can consider that Turkish citizenship has become the goal of buying a property in Turkey, given the many benefits associated with it.

 

Turkish passport

After buying a property in Turkey, and obtaining Turkish citizenship, the property owner will be able to directly obtain the Turkish passport, which is considered one of the most powerful global passports.

Advantages associated with the Turkish passport:

The Turkish passport allows its holder to enter 64 countries without the need for a visa.

Entry is permitted to 26 Schengen zones.

The Turkish passport holder can travel to 46 countries and obtain a visa on arrival directly.

A Turkish passport holder can obtain a visa to 5 countries electronically.

It is considered one of the top 40 passports in the world.

By owning a Turkish passport, you can benefit from free scholarships, and discounts on educational courses available to Turkish citizens.

It is clear that owning a Turkish passport will allow its holder to fly around the world, and bring him global benefits.

 

Take advantage of tax cuts

The Turkish government has reduced taxes on buying real estate in Turkey, in addition to canceling some of those taxes. The Turkish government has equalized between foreigners and Turks in real estate taxes to encourage real estate investment and foreign ownership of real estate in Turkey.

Thus, you will have low tax costs compared to the taxes of other countries when buying a property in Turkey.

 

Successful real estate investment

The real estate market in Turkey is distinguished from the rest of the global markets by its stability and stability, especially after maintaining its global level in the shadow of the Corona pandemic.

Also, real estate investment is achieving more and more successes every year.

Thus, one of the most important benefits that you gain from buying a property in Turkey is that it is included in one of the strongest investment markets in the world.

 

Advantages of real estate investment in Turkey:

Real estate investment in Turkey is safe and secure:

Investing in real estate in Turkey guarantees guaranteed profits, as a result of the continuous increase in demand for real estate in Turkey, as it is witnessing a continuous rise in prices.

The property owner will be able to achieve double profits if he decides to sell the property in the future.

Or he will achieve a continuous and guaranteed monthly return from renting his property.

There are many options available in the Turkish real estate market:

Turkey is characterized by the multiplicity and diversity of its real estate options, from apartments, tourist villas, commercial and tourist properties, in addition to agricultural and residential lands and many other options.

Each of these types opens multiple doors for profitable investment.

Thus, Turkey gives the real estate investor the freedom to choose the investment he desires.

The most important reasons for the success of real estate investment in Turkey:

Turkey's strategic location, which made it a link between continents.

The diversity of terrain in Turkey between marine and mountainous, in addition to its richness in historical and tourist attractions, which made Turkey the first destination for tourists.

Tourism activity in Turkey is one of the most important factors for the success of various types of investments, which are related to the success of real estate investment.

The booming Turkish economy, which is considered one of the most important and strongest in the world.

The huge projects that Turkey is setting up and which lead to the prosperity of investments of all kinds.

The development of education in Turkey, which made it a destination for students from different countries of the world.

It provides job opportunities that attracted workers from other countries.

Housing is constantly and increasingly flocked to reside in Turkey and enjoy a stable life.

Many foreigners are heading towards buying real estate in Turkey in order to enter the real estate investment market and join the series of successes and increasing profits.

 

Capital preservation

In light of the confusion in the global economy, the fabrication of global markets of all kinds, in addition to the crises experienced by various countries, the real estate market in Turkey was the safest.

Real estate in Turkey has managed to maintain its position and price stability in the face of various global conditions, in addition to the political stability that Turkey is experiencing, so foreign investors have directed towards buying real estate to save their money from loss and deterioration.

Real estate in Turkey can save capital from wastage, in addition to its potential to double in the future as a result of the continuous increase in real estate prices.

 

Real estate prices are low:

Despite the many advantages and benefits determined by real estate in Turkey

However, it is the lowest price among the real estate of other countries, and therefore the capital required to buy a property in a country other than Turkey, can enable its owner to buy more than one property in Turkey, and this in turn will achieve the double benefits.

 

Low cost of living

Many foreigners want to live in Turkey, given the lower cost of living required in Turkey compared to their home country.

We will mention the most important points related to the cost of living in Turkey:

Health service costs:

Health costs are divided into two parts:

General Insurance: Health services at low costs for all individuals.

Private insurance: It is insurance granted to foreigners residing in Turkey, including treatment in Turkish hospitals

Its price depends on the age of the person.

study FEES:

Turkey is characterized by low tuition costs in its various schools and universities, and this is the reason for playing a large role in the demand for it from different nationalities.

Transportation costs:

There are many means of transportation in Turkey, all of which are characterized by low transportation costs.

Public services: including electricity, water, and other services

All of which are characterized by lower prices compared to other countries.

Food: Turkey is characterized by a wide variety of foods at reasonable prices. It is clear that a foreigner will guarantee a luxurious life in Turkey in exchange for the cost of normal life in his country, and this is one of the most important benefits that those who go to buy a property in Turkey for housing will achieve.

 

The social environment in Turkey

The Turkish people are one of the friendliest people in the world, and are distinguished by their kindness to foreigners, and therefore foreigners who buy real estate in Turkey for housing, will have a social life.

They will not feel isolated from their country.

 

Distinguished Infrastructure

Turkey has a solid and continuously developing infrastructure. The Turkish government has sought to develop the infrastructure continuously because its modernity is linked to the modernity and development of the country.

 

Turkey was interested in transportation of all kinds, so it built bridges, tunnels and highways, in addition to its interest in sea and air transportation.

A good example is Istanbul's third airport, and the Istanbul Water Canal, which is one of the most important and largest global projects that changed the map of global land and sea movements.

Highways:

Turkey is characterized by highways that envelop its various regions, and relieve traffic congestion.

In addition to Turkey's richness in health services from hospitals, health centers and medical clinics, which have spread in various regions of Turkey, to achieve the adequacy of those areas.

Turkey is also distinguished by its advanced educational services, as it has the most important and best Turkish and international universities and schools.

It has become a destination for students from various other countries.

The development and modernity of the infrastructure in Turkey reflects the modernity of this country, and provides a comfortable and stable life for all its residents. Thus, benefiting from the modernity of the infrastructure in Turkey will be one of the expected benefits for those who will buy a property in Turkey.

 

Tips when buying a property in Turkey:

Despite the many benefits that real estate achieves in Turkey, the process of buying a property requires a lot of awareness and study.

Hire a trusted real estate company or a trusted real estate expert

This is because real estate companies are more experienced and knowledgeable about existing properties. It will save you a lot of time and effort and help you choose the best property.

You should take a survey before buying a property in order to take a closer look at all the available options and choose the best one.

Do not buy a property without visiting the site and making sure that the specifications mentioned match reality.

Of course, the benefits of buying real estate in Turkey do not stop there, but these are the most prominent and important benefits.

 

Related articles :
The guide of real estate investment in Turkey 2022
Latest updates on Turkish citizenship and real estate residence
Luxury apartments for sale in Istanbul
How to obtain a Turkish passport?
The journey of looking for apartments for sale in Istanbul
Houses for sale in Turkey in installments
Villas for sale in Istanbul
Best offers for apartments for sale in Turkey 2022
Steps to buying an apartment in Istanbul
Tourist Residency and Real Estate Residency in Turkey

Read also
The best tourism areas in Turkey for the winter of 2023

The best tourism areas in Turkey for the winter of 2023

19th November 2022
  • 1,855

A list of the most important Turkish tourist areas that are worth visiting in the winter

Advantages of buying a property under construction in Turkey

Advantages of buying a property under construction in Turkey

20th November 2022
  • 1,484

Buy a property under construction in Turkey and enjoy these features

tourism