How to Choose Real Estate in Turkey?

Of course, owning modern apartments by the sea in a resort area is not everyone's dream. And if it doesn't hit too hard on your wallet, then overall — this is a gift from above. So you should definitely take advantage of this opportunity. But how not to fall into a trap due to lack of knowledge about the specifics of the Turkish real estate market and avoid all 'sharp corners'? Let's try to figure it out in this article.

Advantages of Investing in Turkish Real Estate

On our planet, there are 197 different countries. But why is Turkey so attractive? There's a whole set of advantages to buying real estate in Turkey:

• Healthy and mild climate — Turkey has a sub-tropical maritime climate with humid winters and hot dry summers, so the weather is good all year round;
• Clear beaches and sea — On the luxurious Mediterranean coastline are beaches with international 'Blue Flag' certification (an ecological program for cleanliness and safety);
• Year-round vacation opportunities — Having your own housing in the sunny republic, you won't need to look for profitable offers from tourism agencies or adapt to conditions of peak seasons. You can come to the country at any time of year and move into your apartment;
• Affordable cost of living — The cost of living in Turkey is significantly lower than in other resort countries. Since Turkey is an agricultural country, you can harvest fruits and vegetables from plantations all year round, which affects the low price of goods. In addition, utility bills, transport and clothing are also much cheaper than in EU countries;
• Affordable housing prices — The cost of real estate in Turkey is favorable compared to the price per square meter in other European resort countries;
• Developed infrastructure and landscape — Modern residential complexes are built with the requirements of even the most demanding foreign buyers in mind, offering all conditions for a comfortable life. Residents have access to gyms, pools, saunas, children's playgrounds, parking lots, recreation zones and barbecue areas;
• Favorable financial conditions — Turkish banks provide favorable mortgage lending terms to foreign investors. In addition, developers offer spacious apartments in modern complexes with interest-free installment plans;
• High return on investment — Buying an apartment in Turkey allows you to expect both long-term and short-term returns. An apartment can be rented out at a very good price, especially during the high season. Within 2-3 years, living space can be sold profitably at a higher price than the original. Moreover, the decline in the Turkish lira exchange rate has provided many opportunities for foreign investors wishing to enter the country's real estate market;
• Simplified process of obtaining residence and citizenship — Foreigners can obtain a residence permit by purchasing real estate in Turkey. According to the law, after 5 years of obtaining a residence permit, a resident can apply for Turkish citizenship. However, if the apartment costs $250,000 or more, a Turkish passport can be obtained and an application for citizenship submitted within just 2-3 months.

All these factors, together with Turkey's economic growth of 7.4% in the third quarter of 2021, can dispel all doubts about which country is better to choose for real estate investment. Turkey can not only delight with its natural riches and charming Mediterranean Sea but also provide a solid foundation for a decent life.

Types of Real Estate in Turkey and Their Features

The Turkish real estate market is quite diverse, offering a wide range of property options for various financial capabilities. Let's take a closer look at all the types of real estate in Turkey:

• Apartment — an apartment in a residential building;
• Penthouses — luxurious apartments with large panoramic windows, often located on the upper floors of modern residential complexes;
• Duplexes — two-level apartments in multi-story residential buildings. They may be located on the ground floor or in the middle of a tall building;
• Townhouses — apartments in a separate complex with two or three floors and an independent entrance;
• Villas — two- and three-story multi-room houses with their own territory around the house.

Factors Affecting Housing Prices in Turkey

And now it's time to learn what determines real estate prices in Turkey. Let's dive into these questions:

• Location — it's quite logical that the price of living space in the capital or a large metropolis will be slightly higher than in a small city;
• Distance from the sea — the further the residential complex is from the coastal zone, the cheaper the price will be;
• View from windows — if apartment windows offer a magnificent view of the azure Mediterranean coast or slopes of local hills, the price will be higher;
• Floor — elite penthouses are often located on upper floors at a high price, whereas budget housing is located on the ground floor;
• Number of rooms and area — it's simple here – the larger the area, the more expensive the apartment;
• Complex infrastructure — apartments in a residential complex offering additional services such as parking, fitness zones, pools and saunas, security, will cost more;
• Condition of the apartment — property with high-end renovation and equipped with exclusive furniture and modern appliances has a price several times higher.

The human factor also plays an important role. Often, situations arise where the owner urgently needs money and is willing to reduce the price of real estate. Don't forget that Turkey is a trading country — bargaining here is necessary.

Conclusion!

In this article, we've covered all the most important points related to real estate in Turkey. We hope that this information will help you make a decision, and the upcoming purchase will bring you positive emotions and benefits.