The Ideal Time to Buy a Property in Turkey with the Devaluation of the Turkish Lira

19/07/2021

Owning a Property in Turkey as a Foreigner

Turkey, where is welcoming millions of tourists every year, with its magnificent historical and natural beauties, is also the center of attention for foreign investors with its strategic location, advanced transportation opportunities, large domestic and foreign trade volume, and stable economy. Turkey, which has a steadily growing economy every year, is a country that attracts real estate investors with its comfortable living climate, cheap living costs, and colorful entertainment life. Thousands of foreign nationals dream of owning real estate in Turkey and living here.

Turkey, which serves as a bridge between the continents of Europe and Asia, and where countless cultures are intertwined, offers a unique experience in terms of life. In Turkey, which has generally sunny weather, besides the climate advantage awaiting foreigners, there are also advantages such as nature, culture, ease of life, and delicious food culture.

Turkey is one of the countries most preferred by foreigners to buy real estate. Turkey, which ranks 14th in real estate investments all over the world, surpassed countries such as Spain, Greece, and Portugal. Turkey is among the most preferred countries with the variety of real estate and luxury apartments it offers. The diversity of nations that buy real estate in Turkey is also increasing every year. In other words, the number of people who prefer Turkey is increasing every year. Turkey has taken its place at the forefront of the global real estate market, leaving behind European countries such as Portugal and Spain with its cost of living, growth rate, transaction cost, and tourist attraction. Factors such as affordable properties, favourable living conditions, and citizenship incentives at affordable prices stand out as the most important factors that bring Turkey to the forefront in the global property market.

In addition to all these, Turkey ranks first in the world in terms of housing value increase. Turkey, which is at the top of the world in terms of value increase, offers highly profitable investment opportunities to real estate investors. Unlike the property sector, which lost value all over the world due to the coronavirus epidemic, the property sector in Turkey gained value, and construction investments continued. The property investment in Turkey is expected to be one of the best investment tools in 2021.

It is a fact accepted by the whole world that there is a close relationship between real estate investments and economic growth. Especially for developing countries like Turkey, the real estate sector also plays an important role in economic growth. Buying property in Turkey by foreigners also directly contributes to the country's economy. Thus, with the developing economy, the investments made by foreigners will gain value and they will return with high profits.

real estate investment in Turkey

Advantages Awaiting Foreigners in Turkey

Turkey is one of the most beautiful countries in the world to live and own property. For foreigners, the Turkish Government offers unique property purchasing opportunities. In addition to all these, real estate investment in Turkey is the most reliable type of investment and a purchased real estate never loses value. The real estate market in Turkey, which has shown great development especially in the last 10 years, attracts great attention from foreigners. Owning property in Turkey offers many advantages to foreigners. Let's talk briefly about the advantages offered by the real estate market in Turkey and the Turkish Government to foreigners.

- The Turkish Government offers foreigners a unique incentive to invest in real estate such as VAT reduction. When foreigners want to buy real estate in Turkey, they do not buy flats with high VAT rates.

- Foreigners can have a luxury property and a Turkish passport with a fee of as low as 250.000 USD. A foreigner who buys real estate for 250.000 USD or more can apply for Turkish citizenship with his/her family.

- Foreigners who purchase real estate under 250.000 USD can apply for a residence permit with their families, renew their residence permit every year, and live in Turkey.

- The real estate sector in Turkey is a very developed sector and luxury residences are being built. The residences purchased by foreigners in Turkey are new, luxurious, and have rich social facilities.

- Construction companies in Turkey offer easy payment options. Especially for the under-construction residences, the construction company offers instalments between 12-60 months.

- Turkey offers many social opportunities and activities to both its citizens and foreigners. There are all kinds of social opportunities in Turkey, from sports activities to cultural activities, concerts, and entertainment.

The Ideal Time to Buy a Property in Turkey with the Devaluation of the Turkish Lira

The Turkish economy has been going through hard times for the last few years due to political policies and the Covid-19 outbreak. Although the depreciation of the Turkish lira against the dollar temporarily strains Turkish citizens, it offers unique purchasing opportunities for foreign investors. With the depreciation of the Turkish lira against the dollar, real estate prices in Turkey become very attractive for foreigners. With the increasing exchange rate, you can buy a sea view flat in Istanbul for 250.000 USD and become a Turkish citizen at the same time.

buy real estate in Turkey

To find your dream home in Turkey, which has a wide range of real estate, you need to work with a real estate agent who will help you at every stage of the purchase. An expert and experienced real estate agency will help you buy real estate in a foreign country without any difficulties. Experienced and professional sales consultants of Diyar Turk Real Estate are always ready to help with before-sales and after-sales services. You can contact us via our website or send an e-mail to info@diyarturk.com to learn more information about apartments for sale in Turkey.

Diyar Turk Real Estate is offering you the best services which are saving your time and money during your journey to find the suitable property for you and your family
Our services
- Real Estate marketing
- Real Estate consulting
- Turkish citizenship programs through real estate investment
- Real Estate tours
- Real Estate management
- Buying and selling the properties
- After sales services
Don’t hesitate to contact us through our social media platforms… our real estate agents are waiting for you

Diyar Turk Real Estate team

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