Detailed information about buying property in Turkey:
Property Types
1. Flats
- City Flats: Common in cities such as Istanbul, Ankara and Izmir. They range from affordable options to luxury apartments.
- Holiday Flats: Coastal cities such as Antalya and Alanya are popular for holiday homes and rental investments.
2. Villas
- Detached Villas: These are independent properties, usually with private gardens and pools, found in areas such as Bodrum, Fethiye and Kalkan.
- Twin Villas: These are villas that share a common wall with another villa and offer a balance between privacy and cost.
- Luxury Villas: These are high-quality properties located in prestigious areas with panoramic sea views, large lands and luxury features.
3. Townhouses
- They are often found in historical areas or in new developments that imitate traditional Turkish architecture.
4. Commercial Properties
- Ofis alanları, perakende dükkanlar ve otelleri içerir.It includes office spaces, retail shops and hotels. Istanbul and Ankara are the main locations for commercial investments due to their economic activities.
5. Land
- Agricultural Land: Suitable for agriculture or rural development.
- Development Land: Used to build residential or commercial buildings, especially in growing suburbs or tourist areas.
Popular Investment Regions
1. Istanbul
- European Side: Districts such as Beşiktaş, Şişli and Beyoğlu are known for their cultural and economic importance.
- Anatolian Side: Regions such as Kadıköy and Üsküdar offer residential comfort and commercial activities together.
- New Developments: It is located in regions such as Başakşehir and Bahçeşehir, which offer modern infrastructure and facilities.
2.Antalya
- City Center: It is a lively area with its proximity to beaches and city amenities.
- Suburbs: Areas such as Lara and Konyaaltı have quieter, family-friendly environments.
3. Bodrum
- It is known for its luxury villas, beautiful coastline and vibrant nightlife. Popular areas include Yalıkavak, Gündoğan and Türkbükü.
4. Fethiye
- It offers stunning coastal views, affordable properties and a mix of traditional Turkish and foreign communities. Popular areas include Ölüdeniz and Calis Beach.
5. Ankara
- It offers more affordable real estate options than Istanbul and has a strong rental market preferred by students and government employees.
6. Bursa
- It is known for its historical significance and natural beauty, offers affordable properties and is just an hour away from Istanbul.
The process of buying
1. Research and Real Estate Agent Selection
- Start by doing market research and choosing a reputable, English-speaking real estate agent. Verify their references and experience.
2. Property Visit
- Plan visits to view the properties you have shortlisted. It is recommended to visit at different times to evaluate the neighborhood.
3. Negotiation and Sales Agreement
- Negotiate price and purchase terms. Sign a sales contract and pay a small booking deposit to make the deal legally binding.
4. Legal and Financial Procedures
- Appoint an independent lawyer to manage legal proceedings. Have your ID/passport and residence permit (if applicable) ready.
- A full valuation by an independent appraiser is required. This helps assess the condition of the property and is required for the Title Deed (document of ownership).
5. Completion of Purchase
- Your lawyer will review the Deed and it will be sent to the Deed office to be recorded. When the registration process is completed, the new Title Deed is delivered to you along with your information.
Investment Thoughts
1. Citizenship by Investment
- Foreigners can obtain Turkish citizenship by purchasing property worth at least 400,000 USD and establishing a company with capital.
2. Cost of Living
- Türkiye offers a lower cost of living than many European countries. Annual property costs, municipal taxes and other expenses are quite affordable.
3. Rental Revenue Potential
- Properties in tourist areas such as Antalya and Bodrum have high rental income potential, making them attractive for investment.
4. Legal and Safety Regulations
- Ensure all properties comply with local building codes and safety standards. For foreign transactions, it is necessary to have an expert report, which has been mandatory since 2019.
5. Economic Stability and Growth
- Turkey’s strategic location and investment-friendly policies enable it to become a hub for international business, ensuring its real estate market is stable and growing.
