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Citizenship by Investment

Overview of Real Estate in Turkey

Turkey’s real estate market has become increasingly attractive due to its dynamic economy, strategic location bridging Europe and Asia, and a growing demand for property among both domestic and international investors. With a diverse range of options from coastal properties to urban apartments, Turkey offers opportunities for various types of investments. The country’s favorable climate, vibrant culture, and relatively affordable property prices compared to other European destinations further enhance its appeal to investors.

Why make a real estate investment in Turkey?

  • Excellent Returns Increase Over Time: Investing in Turkish real estate offers significant profit potential due to high demand from tourists, especially during peak seasons. Properties in popular tourist areas can provide attractive rental yields and a strong return on investment.
  • Growing Market: Turkey’s real estate market is expanding, driven by economic growth and increasing foreign interest, making it a promising investment environment.
  • Strategic Location: Turkey’s position between Europe and Asia enhances its appeal, attracting international buyers and offering diverse investment opportunities.
  • Affordable Property Prices: Compared to many European countries, property prices in Turkey are relatively lower, providing excellent value for investors.
  • High Rental Income Potential: Tourist hotspots and major cities offer substantial rental income opportunities, particularly during peak travel seasons.
  • Residency and Citizenship Benefits: Real estate investors in Turkey may benefit from residency options and, in some cases, citizenship through Turkey’s citizenship by investment program, adding to the appeal of property investment.
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Processing Time

4-6 months

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Contribution

$ 100,000 USD

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Visa-Free Travel Within

160+ countries

The Citizenship by Investment program of Antigua & Barbuda necessitates investors to make a contribution to the National Development Fund or engage in real estate projects or government-approved businesses. In exchange for their investment, they are granted citizenship and a passport.

$200,000

Real Estate Investment

Applicants for the Antigua & Barbuda citizenship by investment program have the option of making a joint investment in real estate through the purchase of shares in a company holding the asset. Two applications from related parties in the amount of a minimum of US$200,000 will be considered as qualifying investment.

Real Estate Market Information in Turkey

The Turkish real estate market is characterized by its diversity and potential for growth. Major cities like Istanbul, Ankara, and Izmir are bustling with real estate activity, while coastal areas such as Antalya and Bodrum attract investors looking for vacation homes and rental properties. Recent trends show a strong demand for modern apartments and luxury properties, driven by both local and international buyers. The market is regulated by the Turkish government to ensure transparency and protect investor interests.

Real Estate Investment Criteria in Turkey

When considering real estate investment in Turkey, you need to meet certain criteria to ensure compliance with local regulations. Typically, you must invest a minimum amount, which varies based on the property type and location. It’s essential to choose properties that adhere to legal requirements and to conduct thorough due diligence on both the property and the developer. Familiarize yourself with Turkish property laws, including necessary permits and tax obligations related to ownership and rental income. If you’re aiming for residency or citizenship through investment, be sure to meet the specific thresholds and criteria set by the Turkish government.

Key Facts

Capital

Ankara

Languages

Turkish | Arabic | Kurmanji | Others

Currency

Turkish Lira

Population

85,816,199 (2024)

Real Estate Investment Options in Turkey

In Turkey, you have a variety of real estate investment options to choose from, catering to different preferences and financial goals. You can invest in residential properties, including apartments, villas, and luxury homes, which are popular in major cities like Istanbul and coastal areas such as Antalya. Commercial properties, such as office spaces, retail outlets, and hotels, offer lucrative opportunities, especially in bustling urban centers. Additionally, you can explore land investments, which can be developed for residential or commercial purposes. Each option provides unique benefits and potential returns, allowing you to tailor your investment strategy to your specific needs and objectives.

Minimum Investment Requirement

You must purchase property with a minimum value set by the Turkish government. Currently, this investment threshold generally starts at around USD 400,000, though it can vary depending on the property’s location and type.

Holding Period of Real Estate

You are required to retain ownership of the property for at least three years from the date of purchase, demonstrating a commitment to long-term investment in Turkey’s real estate market. The only restriction is that you cannot resell the property to its previous owner. During your ownership, you are free to rent out the property.

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    Step-by-Step Guide to Buying Real Estate in Turkey

    1.  Check Turkish real estate websites like emlakkulisi.com.tr, zingat.com, and emlakjet.com.
    2.  Use local real estate agents and consider an investment migration consultant for guidance.
    3.  Agree on the price and terms with your agent.
    4. Sign the purchase agreement and pay a reservation deposit.
    5.  Appoint a solicitor to manage legal aspects. Have your ID, passport, and residence permit ready.
    6. Get an independent appraisal of the property.
    7. Pay notary fees, get the Tapu (title deed), and submit it to the land registry for a new Tapu in your name.
    8. Move into the property or use the documents to apply for Turkish citizenship by investment.

    Types of Ownership

    When investing in real estate in Turkey, you can choose from several types of ownership. Freehold ownership grants you complete and permanent rights to the property, allowing you to sell, lease, or transfer it as you wish. Leasehold ownership gives you the right to use the property for a specific period, typically ranging from 49 to 99 years, after which ownership reverts to the original owner. Shared ownership allows you to own a portion of a property, often seen in holiday homes or timeshare arrangements, where you share the property with other owners and have the right to use it during certain periods. Each type of ownership offers different benefits and obligations, enabling you to select the best option for your investment goals.

    Legal and Regulatory Considerations

    Investing in Turkish real estate involves navigating several legal and regulatory considerations. You must ensure that the property you are purchasing is eligible for foreign ownership and that it complies with all local zoning and construction regulations. Obtaining a title deed (Tapu) is a critical step in the process, and you should verify its authenticity and completeness. Working with a reputable real estate agent and legal advisor can help you navigate the legal landscape, ensuring that your investment is secure and compliant with Turkish laws.

    Program Summary

    Learn more about the country and it's citizenship by investment.

      Similar Citizenship by Investment Programs

      Benefits of Citizenship by Real Estate Investment

      • Visa-Free Travel: Gain access to visa-free or visa-on-arrival travel to numerous countries, including those on the Turkey visa-free countries list.
      • Residency Rights: Secure the right to live, work, and study in the country offering citizenship.
      • Tax Advantages: Potential tax benefits depending on the country’s tax regime.
      • Economic Opportunities: Access to new business and investment opportunities in the country.
      • Education and Healthcare: Benefit from the country’s education and healthcare systems.
      • Security and Stability: Enjoy the security and political stability of the new country.
      • Dual Citizenship: Possibility to hold dual citizenship, expanding personal and professional horizons.
      • Family Inclusion: Extend citizenship benefits to family members, including spouses and children.

      Risks and Considerations

      While investing in Turkish real estate offers many benefits, it is essential to consider the risks involved. Market fluctuations, changes in government policies, and economic instability can impact property values and rental income. Additionally, you should be aware of the potential challenges related to property management, especially if you are an overseas investor. Conduct thorough research, perform due diligence, and seek professional advice to mitigate these risks and make informed investment decisions.

      Property Purchase Taxes

      When buying property in Turkey, you are required to pay property purchase tax and a registration fee. The property price includes VAT, which ranges from 1% to 18% depending on the area. If you are a non-resident who has lived in Turkey for less than 183 days a year, you can reclaim the VAT when purchasing a new property from a developer. Additional costs typically range from 5% to 8% of the purchase price. For example, if you buy a new apartment for €500,000, you should budget for a total of approximately €525,000, including these associated costs.

      Financial and Payment Options

      When purchasing real estate in Greece, payments are usually made via bank transfers or certified checks. Buyers typically need to provide a 10% deposit to secure the property, with the remaining amount due upon completion of the sale. Financing options are available through Greek banks or international lenders, though transactions are generally conducted in euros. It is crucial to be aware of all financial aspects, including currency conversion if applicable.

      Exit Strategy

       After obtaining Turkish citizenship, you can consider several exit strategies for your real estate investment. Once the mandatory retention period of 3 years has passed, you may choose to sell the property, potentially reinvesting the proceeds into new ventures. Alternatively, you could rent out the property for ongoing income or transfer ownership to a family member. Each option should be evaluated for its financial and legal implications, so consulting with experts is recommended to make informed decisions.

      Comparing Citizenship by Investment Countries

      List of Countries offering Citizenship by Investment through Real Estate

      If you want to know more about the countries that offer citizenship by real estate investment, you can visit these pages:

      Frequently Asked Questions

      The process of obtaining Turkish citizenship through property investment typically takes between 3 to 6 months

      Yes, you can rent out the property after purchasing it for Turkish citizenship. However, you must retain ownership and not sell the property for at least 3 years to meet the requirements for citizenship.

      Yes, foreigners can legally purchase real estate across Turkey, with some exceptions. They cannot buy properties exceeding 30 hectares, those that cover more than 10% of a district, or properties located in military zones.

      Yes, Turkey is a great place to buy a house. Property prices are affordable, and the cost of living is low. The government also offers incentives, such as citizenship for property buyers, making it an attractive investment option.

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