By Justin Mays:
Turkey has been on an upward trajectory in recent years, and Istanbul has been the heart of that movement. The real estate market has exploded, with buyers in Turkey and worldwide looking to invest in property as an easy and profitable way to diversify their portfolios.
Buying a real estate property in Turkey has become very popular and easy over the past few years. Thanks to the government's efforts to open up the real estate market and promote economic growth through the investment and development of new properties. With their support,
it's now much easier to buy real estate in Turkey.
However, picking the right location is still essential if you want your investment to pay off.
Why Choose Turkey for Real Estate Investment
Investing abroad is often not an easy task. But, considering the current economy of other countries, there are some good reasons why people would invest in Turkish real estate. We explore them below.
● Alluring Exchange Rate
Turkey has come through the other side of its economic instability. Its alluring exchange rate has grabbed the attention of tourists and expats due to its natural beauty, rich cultural heritage, and delicious cuisine.
● Turkish Citizenship Through Real Estate Investment
One of the benefits of buying real estate in Turkey is that you can get Turkish citizenship. When you invest over USD 400,000, you can become a Turkish citizen or get a residency permit if you buy a property worth 75,000 USD or above.
● Attractive Options
Turkey is an excellent country for foreigners looking to buy real estate. While it may not be at the top of your list can offer many great options worth exploring.
Best Places to Buy Real Estate Property in Turkey
Istanbul is Turkey's largest city in the country, with over 15 million residents, and is home to many company headquarters of many multinational companies. Istanbul has everything, from a wealth of cultural activities to stunning waterways and green areas. It is not the capital city but basks in the limelight. It has attracted many real estate investors because it hosts the most significant number of working-class people.
Another advantage is affordability and modern amenities. It also has the largest airport in the country, making it easy to connect to anywhere you may want to go. Many Turks from other parts of the country and foreigners have been flocking to Istanbul for centuries making Istanbul one of the most popular places to purchase property. Istanbul should be at the top of your list for people wanting big-city vibes with more professional and educational opportunities. The only downside to Istanbul is it is by far one of the most expensive areas in Turkey and the most crowded. (Istanbul Real Estate Listing).
Fethiye has long been one of the most popular districts in the South. Pine-clad mountains dropping into deep turquoise waters are the perfect backdrop for good living. Many expats and retirees have made Fethiye their home, and it has many lively expat and retiree communities. Return on Investment (ROI) in this city is close to 8%; hence we encourage our clients to invest in this region.
Dalaman airport, one of the larger airports in Turkey, is in Fethiye, and the transportation infrastructure is solid, making getting around the region a breeze. Gorgeous year-round weather allows people to spend all four seasons in Fethiye, and you can choose mountain or coastal properties in calmer or more urbanized areas. (Property For sale in Fethiye).
Kalkan: Properties with Spectacular Designs and Luxurious Amenities
Kalkan is one of the places to invest when you are looking for prestigious villas. Imagine waking up to a gorgeous sea view you can enjoy from your balcony or terrace; this is what Kalkan offers. Charming landscapes, unique architecture, and luxurious paradise are what you get when you invest in property with a high return on investment located in Kalkan. Choose a resale option or a new villa, and Prime Property Turkey will be ready to guide you through the straightforward step-by-step property buying process.
Gocek: Magnificent Picturesque Landscape
Gocek is one of the breathtaking places to live in Turkey. Its magnificent properties lie on picturesque backdrops. Buying real estate in Gocek will guarantee a luxurious life full of places to create unforgettable memories with your family. Every day at Gocek feels like a holiday with its clear turquiouse blue beaches and wondrous Islands. Many buy holiday homes here because it is perfect for summer vacations. Those who wish to buy property for investment have a massive advantage since weekly rates average 2,000 USD during summer.
Bodrum: Paradise For Lavish Homes
The Bodrum peninsula on the Aegean Sea has long been a favorite vacation spot for Turks. It's not a local secret anymore; many expats have joined the locals to reside in one of the most stunning areas on the Aegean. Home to the luxury Yalikavak Marina and many top brand hotels like the Aman, the deep blue waters have been attracting yachters for decades.
You can find many of the same amenities that Istanbul has on a smaller scale in Bodrum, like the American Hospital and branches of local and international schools. Aside from Bodrum city, there are many different areas to explore from the village-like Gumusluk and lavish Turkbuku.
Antalya: A City with Panoramic Views and Vibrant lifestyle
This Mediterranean country has a Mediterranean climate that is not very humid or cold. The summers are hot and dry, and the winters are short and mild. You may also enjoy the museums, shopping, nightlife, historical sites, natural wonders, and delicious cuisine.
Many foreigners consider this place a perfect destination with 300 days of sunshine. If you are looking for a calm and relaxed place to buy a property in Antalya is the ideal place. After the government allowed foreigners in real estate investments, this place experienced significant demand for lavish properties.
Alanya: Explorer's Dwelling Place
Whatever your needs, there are several places to buy property in Turkey, both large and small, so it is easy to find the right place for you. Turks are gracious hosts and will do what they can to make your stay as memorable as possible. Whatever type of holiday or business travel you have planned this year, it is worth considering staying at Alanya.
After Istanbul, this is the second most diverse place in terms of population. The place has attracted real estate investors because of its many benefits. Amazing things about this place are affordable prices and friendly living style.
After careful research and evaluation, the best places to buy in Turkey are those we have listed above. These cities are attractive for those looking for investments and current residents looking to purchase their property. For example, Istanbul has much higher rates of growth than any other city mentioned.
Another good reason for investment is that Turkish mortgages come with a very low-interest rate because the government doesn't want people to own as many properties as possible in other countries. Many also note that Turkish prices make buying more affordable than many of its European counterparts. The Turks have always been expert builders, so you can be sure your new home will be well-built and cared for by skilled craftspeople.