Investing in Real Estate in Turkey: Conditions, Advantages, and Statistics
Investing in real estate in Turkey has become increasingly popular among international investors due to its mild climate, beautiful beaches, diverse property options, and profitable investment opportunities. In this blog post, we’ll explore the conditions for purchasing real estate for investment, the advantages of such an investment, and provide some statistics and figures about property prices and profitability in Turkey. Additionally, we’ll evaluate the region options for profitable real estate investments.
Why Invest in Turkish Real Estate?
Before delving into the conditions for buying real estate in Turkey, let’s address the question: “Why invest in Turkish property?” Here are some compelling reasons:
Climate and Lifestyle: Turkey enjoys over 250 days of sunshine annually, making it an attractive destination for those seeking a pleasant climate. With beautiful beaches, historical landmarks, and affordable housing options, it’s an appealing choice for families and investors alike.
International Community: Major cities in Turkey continue to attract expatriates from around the world. The presence of international schools in languages like Russian, English, and Arabic makes Turkey an excellent option for families.
Healthcare Tourism: Turkey’s robust medical industry appeals not only to residents but also to health tourists. State-of-the-art equipment and highly qualified medical professionals ensure top-notch healthcare services.
Benefits of Real Estate Investment in Turkey
Stable Property Market: Turkey’s real estate market remains stable and consistently growing, thanks to continuous demand from international investors. Various investment options are available, ensuring market activity.
Strategic Location and Tourism Potential: Turkey’s position at the crossroads of Europe and Asia makes it a prestigious hub for transportation and trade. Its mild climate, stunning beaches, historical sites, and rich culture contribute to its status as a top tourist destination. This popularity drives demand for short- and long-term property rentals.
Advanced Infrastructure and Accessibility: Turkey boasts modern roads, airports, and ports, providing easy access to different regions. This accessibility is crucial for real estate investments.
Antalya: A Hotspot for Real Estate Investment
Antalya, particularly Belek, stands out as an attractive location for property investment. Here are some key points about Belek:
Property Prices: As of March 2023, real estate prices in Antalya have increased by approximately 163.80% compared to the previous year. The average price for properties up to 120 square meters is around 3 million Turkish liras1.
New Tax Regulations: The income tax period began on March 1, allowing property owners to declare their income until April 1, 2024. For instance, a property purchased for 900,000 liras on October 21, 2022, and sold for 2 million liras on July 13, 2023, falls under this new regulation2.
Turkish Citizenship: According to recent legal changes, foreigners who purchase property worth at least $400,000 in Turkey can directly obtain Turkish citizenship. The approval process takes approximately one week if all conditions are met3.
Exploring Belek’s Lifestyle
Belek offers a unique lifestyle with its golf courses, pristine beaches, and proximity to attractions like “The Land of Legends.” Here’s a glimpse:
Golf Courses: Belek is renowned for its world-class golf courses. Golf enthusiasts can enjoy playing against stunning backdrops.
Beaches: Belek’s sandy beaches are perfect for relaxation and water sports. Crystal-clear waters and warm weather make it an ideal coastal destination.
The Land of Legends: This theme park combines entertainment, shopping, and adventure. Families can spend quality time here.
Distance to Key Places:
Antalya Airport: Approximately 30 km
Antalya City Center: Around 40 km
Side (Historical Town): About 35 km
In summary, investing in Antalya Belek offers a blend of natural beauty, cultural richness, and profitable opportunities. Whether you’re looking for a vacation home or a smart investment, this region has much to offer.
