• Cem Ercan

Is buying a property in Turkey a good Investment?

Updated: Oct 1, 2021

Sunshine throughout the year, ancient history, fantastic natural resources and beauties, stunning coastlines, healthy, delicious Turkish cuisine, laid-back lifestyle, extensive choices of budget and luxury, emerging economy, friendly people, low property prices, simplified property buying processes, low cost of living, continuous infrastructure and tourism investments, new developments are attracting people and making Turkey a preferred destination for investors. Besides having all of this life-enriching and possibly extending realities under the same roof; with its first-class hospitals and successful health care applications; Turkey is a popular health tourism destination. 43.21 percent of Turkey’s 80 Million population is between 25 and 54 years old. This young and cosmopolitan population generates a dynamic and vibrant atmosphere.

After 2012; as a result of many changes in the land and property law; the reciprocal agreements had been abolished and the rules for buying a property in Turkey as a foreigner had been facilitated. In 2021, foreign-owned property numbers rose by 80%. Today; a vast majority of nationalities can invest real estate in Turkey with full transfer of ownership, relaxed procedures and without restrictions as long as they present all the required documents. Besides, foreigners don’t need to have a residence permit in order to buy a property in Turkey. According to the Turkish government statistics TUIK, the Top 10 Foreign Nationals those have already purchased various types of Turkish real estate as of December 2020 are Iran, Russia, Ukraine. Due to the European economical fallback U.K. and Germany have decreased lower in rank.

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