A comprehensive view of real estate sales in Turkey
Due to the remarkable growth witnessed by the real estate sector in Istanbul and in Turkey in general , and especially after the issuance of the law of foreigners ownership in Turkey No. 6302 on 03 /05 /2012 , Turkey has become a major destination for Arab and foreign investors and businessmen , and the city of Istanbul has become one of the most prominent cities in Turkey , which is increasingly popular in the field of real estate purchase , followed by a number of other cities such as Antalya , Bursa and Yalova .
The interest of Arab investors to move towards Turkey with the aim of investment or stability has increased , along with the increased interest in real estate investment in Turkey , and the availability of distinctive real estate projects . This coincided with a facilitations provided by the Turkish government to foreigners constantly , to encourage real estate investment , including amending certain laws and opening the door to many nationalities for direct ownership .
The real estate sector in Turkey between 2011 and 2018 achieved nearly $ 29 billion in income , as the number of investors who owned real estate in Turkey reached 22 thousand and 830 foreign investors in 2015 , and the number of foreign investors who invested in Turkish real estate reached 18 thousand And 189 investors in 2016 .
Also , they numbered 22.234 foreign investors in 2017 , which is considered a return to the activity of the real estate investment sector in Turkey , after a recession in this sector coinciding with the political conditions in Turkey during the coup attempt .
After this return , the real estate sector witnessed a steady increase in foreign ownership of real estate in Turkey , as the number of foreign investors in the real estate sector reached 39 thousand and 663 foreign investors in 2018 .
And the real estate investment sector in Turkey has continued to progress this year 2019 , as the number of apartments sold to foreign investors reached 31 thousand and 925 apartments , in the first 9 months of this year 2019 .
As for the sales of the third quarter of the current year 2019 , it was mentioned in the real estate sector indicators report that the real estate sales of foreigners Turkey reached 31 thousand and 925 apartments in the third quarter of the year 2019 , achieving an increase of 32.2% over the same period of last year 2018 .
This came in line with the facilities and incentives provided by the Turkish government to foreign investors who want to buy a property in Turkey , where they can obtain Turkish citizenship when purchasing a property worth 250.000 USD .
The nationalities of foreign citizens have varied , and the 10 most countries whose citizens bought apartments in Turkey in the third quarter are as follows :
Iraq 4818 apartments , Iran 2634 apartments , Saudi Arabia 1480 apartments , Kuwait 1406 apartments , Germany 1149 apartments , England 912 apartments , Jordan 900 apartments , Azerbaijan 790 apartments , Yemen 490 apartments , Palestine 407 apartments .
The Arab Gulf countries combined achieved 43% in terms of the number of citizens who bought apartments in Turkey , and the proportion of the area of the apartments they bought reached 32% of the total area of apartments sold to foreigners in the third quarter of this year 2019 .
Sales of real estate in Turkey to foreigners during the last month of October reached its peak , compared to sales of the real estate sector during the previous months of this year .
According to information from representatives of the sector , the number of homes sold to foreigners during last October has reached 4272 houses .
And real estate sales increased last October , by 2% compared to last September .
The number of homes sold to foreigners since the beginning of this year until the end of last October , 36 thousand and 197 homes .
There was an increase in home sales in Turkey for foreigners during the first ten months of this year , by 19% compared to the same period last year .
Why Turkey ?
- Research shows that property sales in Turkey have increased in recent years , meaning that people visiting Turkey have decided to settle in Turkey for various reasons .
- Geographical location is another important factor for Turkey's prosperity , it is a link between Europe and Asia , and has provided a functional role and a qualitative leap in trade between the two continents .
- Turkey's strategic geographic location , gives it weight and political importance , being the center of transformation in the Middle East and Europe .
- Nature and climate in Turkey , it is a paradise on earth . Turkey is a unique country with its natural beauty , green areas , pure sea , golden beaches , meadows and flat lands . Thanks to these advantages , Turkey's tourism sector occupies an important place in the desire of investors to obtain a Turkish passport .
- Turkey is closely following technological developments , and the Turkish government knows that supporting technological developments is a critical step , as this is an age of technological progress .
- The ongoing reforms by the Turkish government to revitalize its economy , as it is a country with a bright future . From this , its total sufficiency of natural resources and export of agricultural products , cars and furniture to various countries around the world . In addition to the huge development projects adopted by the Turkish government such as the opening of Istanbul International Airport , the largest airport in the world , the launch of the Istanbul International Finance Center , and the continuous development of the transportation network and trains .
- Turkey's economy is characterized by its rapid growth and development , in the twenties of the last century , Turkey was only a fully agricultural country , but now it is one of the most important industrial countries , and it exports its products to all over the world . Turkish industry and trade centers are concentrated around the city of Istanbul and other major cities . The industrial , commercial , agricultural , tourism , real estate and educational sector thrive in Turkey , and the country has become self-sufficient and less imported from abroad .
What are the advantages of buying a property in Turkey ?
- Low tax in Turkey , the decision to reduce taxes in Turkey is one of a series of decisions concerning the real estate sector in Turkey , and was reflected positively in stimulating foreign investors to own property in Turkey , which contributed to the revival of the real estate market in Turkey in general . The most important tax deductions are : Exempting the foreign buyer from the value added tax due on the property .
- Obtaining a residence permit , where foreigners who own properties in Turkey , whose price is less than $ 250.000 , are granted a residence permit that is renewed annually . Real estate residence permit in Turkey is granted to the landlord , his wife , and his children under the age of 18 .
- Real estate in Turkey is the cheapest real estate investment in Europe , where real estate prices in Turkey are considerably cheaper than those in Europe , with similar features in infrastructure , and similar in structure of developed European countries .
- Real estate investment in Turkey provides a profitable investment return , based on the economic activity and rapid urban development , and the strength of tourism in Turkey , which is best reflected in the periods and tourist seasons , through the demand for rental homes during those seasons distributed throughout year .
The obtaining of Turkish citizenship and the Turkish passport has become a top priority for Arab and foreign investors , due to the incentives offered by the Turkish government to investors and businessmen in the field of investment in Turkey and the field of trade , along with the facilities to obtain Turkish citizenship and The Turkish passport , where the positive amendments by the Turkish government continue in favor of those wishing to obtain Turkish citizenship , and there are many ways and means to give everyone the opportunity to get Turkish citizenship .
According to the changes made in the implementing regulations of the Citizenship Law announced in the Official Gazette published on 14/1/2017 , Turkish citizenship will be granted to foreigners :
- When buying a property worth at least 250.000 $ , provided that the property is not sold for three years .
- When investing at a fixed capital of at least 500.000 $ .
- For foreigners who show a document proving that they have deposits in the bank worth not less than 500.000 $ , provided that the deposits remain in the bank for three years .
- For foreigners who prove that they have bought bonds from the state , provided they are not sold for three years .
What are the documents required to obtain Turkish citizenship when buying a property in Turkey ?
- A copy of the Tapo ( title deed of the purchased property ) , or the promise of sale contract with the notary ( Noter ) .
- Valid evaluation report of the property , the validity of the real estate evaluation reports is three months , and the value does not exceed the value recorded in the title deed , and has a specific issuance cost , and is extracted within two or three working days by a valuation institution licensed by the Turkish government .
- Original payment receipts from the buyer's account , stamped from the sending bank .
- Original receipts from the seller's account , stamped from the receiving bank .
- Two copies of the proxy of the application for citizenship , granted by the investor to the law firm to submit the file of citizenship , and follow-up with the official departments . The proxy is organized through a Notary in Turkey ( Notre ) at an estimated cost of 600 to 700 Turkish Lira per copy . If the investor's spouse is added to the naturalization file , a similar proxy must be provided for each of the spouses , and one joint proxy may be organized for the client and his wife . The fees of the legal team vary according to each case in terms of the number of papers and the number of individuals in the file and others .
- Translation of the passport into Turkish , certified by a notary in Turkey ( Noter ) for the whole family : husband , wife , and children under 18 years of age .
- Picture of the last Visa and entry to Turkey .
What are the advantages of obtaining Turkish citizenship ?
- The strength of the Turkish passport , where the Turkish passport is ranked 39th in the world , and its holder is granted access to 72 countries without a visa .
- The Turkish passport and citizenship are processed and delivered in a relatively short period of up to 30 days .
- Turkey's relationship with the European Union , where negotiations and agreements between the Turkish government and the European Union countries on the accession of Turkey to the European Union are still underway . Turkish citizen has the right to enter Europe without a visa in the future .
- Possibility of Turkish passport holders and Turkish citizenship to benefit from retirement programs as a Turkish citizen .
- The Turkish government provides free education and payment plans to the university for Turkish passport holders and Turkish citizens .
- The Turkish passport gives the holder all voting rights for all types of elections in Turkey .
- The Turkish government allows dual citizenship for those holding Turkish passports , as they may also have another citizenship .
- Turkish passport is valid for 10 years when received , and can be renewed for life .
- The economic importance of Turkey , including the ongoing reforms undertaken by the Turkish government in order to revive its economy constantly .
Projects suitable for Turkish citizenship
- RH 180 - Ready luxurious homes with direct sea view in Zeytinburnu
The project was built on a land area of 63.500 square meters . It consists of 6 residences blocks plus 1 hotel block , with its green spaces of 51.500 square meters .
The project offers apartment options ranging from 1 1 to 5 1 , in addition to garden duplex and penthouse .
The project located on the European side of Istanbul , in Zeytinburnu district , on the shore of the Marmara Sea , just outside the walls of the ancient city .
The project located at the very intersection of all new transportation systems , road , sea and rail systems of Istanbul right beside the Historical Peninsula .
In this project , the sea will become part of your daily life . You can reach the marina with only one minute’s walk from your home over the footbridge directly connecting the project to the shore .
The project includes many services and facilities that meet all your needs , such as parking for cars , video intercom system , gardens , playgrounds , swimming pools , sauna and others .
The project also offers security and surveillance cameras 24/7 .
The project is ready for delivery , and for more details please visit the project link here : RH 180
- RH 80- Apartments with Bosphorus view and suitable payment plans in Sisli
A first class residential and investment project in the center of Sisli , specifically in the fast growing Bomonti area .
The project is located in one of the most famous areas on the European side of Istanbul , Bomonti district , a growing area that attracts the attention of investors at the moment , which is characterized by easy access to the most vital places in the city , and its proximity to shopping centers , airports , hospitals , universities and schools .
The project location is just 8 minutes away from Taksim .
This project has been designed in line with the highest quality standards in real estate in Turkey .
All apartments have private balconies with views of Istanbul or the Bosphorus .
The project includes special facilities that provide residents with comfort and entertainment and meet all their needs such as swimming pools , gym, walking paths , sport courts and restaurants , in addition to surveillance cameras and security .
Invest in this project today and benefit from its prices which will increase by 40% after the completion of the project .
All the project details in this link : RH 80
- RH 163 - One of the best projects in Maslak , ready for housing with a view of Belgrade Forest
Apartments for sale in Istanbul in a huge project like a full-service city , which includes a shopping center , 5-star hotel and integrated social facilities .
The project provides an ideal choice for housing and investment . The project was built in three phases : the units of the first residential phase have been completed and fully sold , the second phase includes shops and a shopping center , while the third and final phase is a mixture of residential and commercial apartments .
The project is located on the European side of Istanbul , specifically in Maslak , one of the largest real estate development areas in the city .
Maslak is one of the main central districts of Istanbul and it is one of the fast-growing areas of the city .
Maslak area is close to transportation links that will take you to all parts of the city in a few moments , and you can easily access the main areas and sights of the city .
Maslak is the ideal area for investment in Istanbul , where it promises high profits and high returns on investment in a few years .
The project is located only minutes away from Taksim and Levent , not more than 5 minutes from Bosphorus , and 25 minutes from Istanbul's third airport , which gives it strategic and investment importance .
The project is located near the metro station and public transport .
The project is located in the Cendery Valley , among the regions of Istanbul that have gained the highest value .
The project is located next to Maslak and Levent , which provides a pleasant life with transportation opportunities .
The project attracts attention through its location close to shopping centers , arts , health facilities , transportation and education centers .
All the project details in this link :RH 163