In July 2019, the Republic of Turkey Central Bank's decision to cut interest rates, for the real estate market in Turkey has caused a positive move. To make real estate investments in Turkey is a good opportunity for domestic and foreign investors. In this article, we examined the 5 most preferred cities in Turkey for real estate investments by foreigners.
Titles
Real Estate Market in Turkey
Residential sales in Turkey in January 2019 decreased 24.8% compared to the previous year, however, the housing sales to foreigners has increased by 81.9% compared to the previous year. Real estate market in Turkey, mainly engaged in foreign exchange purchases seem profitable for foreign investors.
Most Preferred Cities in Turkey
According to the January 2018 figures announced by TurkStat, Istanbul, Antalya and Bursa are the top three cities that foreigners prefer to buy. Yalova and Trabzon followed these three cities. Most preferred cities in Turkey are described below with their characteristics respectively:
The Best City Choice For Real Estate is Istanbul
Istanbul is the best city choice for real estate sector. The Turks have a proverb for Istanbul: the stones and lands of Istanbul are made of gold. The reason for this discourse is that the real estate investments to be made in Istanbul are highly valued over the years. In this city, the profitability of the investors and the homeowners always increases. According to real estate indexes, prices per square meter in Istanbul are always increasing faster than other provinces throughout the years.
One of The Most Popular Choices is Antalya
Antalya is the fifth most populous city in Turkey and the end of 2018 the population was closer to 2.5 million. Antalya, the tourism paradise, also hosts the best hotels in the world. With its natural beauties, forests and waterfalls, historical sites and luxury hotels, it is one of the tourism capitals around the world.
Industrial City Bursa Attracts Attention for Investment
The history of Bursa settlement, which is one of the largest and most beautiful cities in Anatolia, dates back to the 4th century BC. It is one of Turkey's largest industrial city, it is undergoing a lot of visitors flock to the city center. In addition, transportation from Bursa to Istanbul is very easy.
Small Istanbul: Yalova
It is located in the southeast of the Marmara Region. It has a coast to the Sea of Marmara and was formerly within the borders of Istanbul. Turkey's largest city Istanbul is very close to that. It has the most beautiful holiday spots in the Marmara Sea.
Pearl of the Black Sea Region: Trabzon
It is located between the Black Sea Coast and the Zigana Mountains in the Eastern Black Sea Region. It is home to local delicacies with its highlands, creeks and fresh air. Trabzon's natural beauties as well as historical and cultural values are of great importance.
How to Get Citizenship in Turkey?
- The easiest way to win citizenship in Turkey is to stay in Turkey for 5 years and receive citizenship residence visa as the owner of real estate in Turkey.
- Those who purchase real estate worth at least $250,000 in Turkey, can be Turkish citizens. Or those who give an undertaking the purchase of property worth 250,000 USD from a notary can be Turkish citizens.
- You can buy more than one real estate with a total value of at least 250,000 USD.
- Real Estate Appraisal experts confirm whether the declared value of the property is over 250.000 USD.
- Property value in USD, at the date of the transaction is calculated based on effective selling rate of the Central Bank of Turkey.
