Benefits of owning your own home in Turkey
The Mediterranean Sea, clean air, bright sunlight: these are ideal conditions not only for recreation, but also for permanent residence. That is why Turkey remains one of the most attractive countries for foreign citizens.
Why is it profitable to buy an apartment in Turkey
- A good investment: by purchasing real estate at the construction stage, you have an excellent opportunity to increase your funds. After the completion of construction, the property price increases by 30%.
- A stable source of income: during the holiday season, renting a two-room apartment costs an average of 500 €.
- Domestic tourism: there are many cultural and historical monuments throughout the republic. Domestic air travel prices are affordable.
Which regions of Turkey are popular with property buyers
If you are interested in inexpensive apartments in Turkey and are not afraid of the hot climate, pay attention to the Mediterranean coast. Near the Aegean Sea, the climate is milder, but the price for housing is higher here.
Where to find a cheap apartment in Turkey
The cheapest accommodation can be purchased in Alanya. An inexpensive apartment in one of the residential areas of the city with an area of up to 55 m² will cost around 40-50 thousand euros.
What are the specific features of the Turkish real estate market
Since 2017, a ban has been introduced in Turkey on the construction of apartments with an area of less than 28 m². You can buy small-sized housing only on the secondary market. Even on the territory of an economy-class residential complex there is a swimming pool, a hammam, a gym. In winter, the premises are heated mainly by a «warm floor» system or air conditioners.
How to become the owner of your own apartment in Turkey
Any foreign citizen can buy an apartment in Turkey. To conclude a transaction, you will need a passport and 1000€. Next, you need to pay tax, state duty and settle with the seller. After all financial transactions have been carried out, you can proceed to the registration of your certificate of ownership of real estate and prepare for a housewarming party.
General information about residence permit and taxes
When buying real estate in the Republic of Turkey, you automatically receive a residence permit for a period of 1 year. Having lived in the country for 5 years, you can apply for citizenship. The tax is only 4% of the appraised value of the property, which is significantly lower than in European countries.
