Turkey is a dream location for people from various countries. Some of its attractions include the remarkable culture, history, climate, and nature. The real estate industry attracts significant investment in the country and is among the fastest-growing. There are various investment areas including Istanbul, Bodrum, Antalya, Trabzon, and Bursa. Let’s dig deeper into how you can buy an apartment in Turkey.
Apartment buying process
Turkey is the 37th largest country in the world. It has thousands of destinations for real estate developers. For anyone looking forward to investing here, there are a few things to keep in mind. The bigger cities in the western part of the country are the most attractive to foreign real estate investors. Some of the most prominent real estate locations include Istanbul, the coast of the Mediterranean, and the Aegean region.
Preparing your budget is the first thing to do when looking forward to buying property in Turkey. Afterward, you have to find a suitable location with properties that match your preferences and budget. An apartment in Istanbul is suitable for those who enjoy vibrant city life. Bodrum and Bursa are ideal for those who want to escape from the daily hustle and bustle of the city.
Buying an apartment in Istanbul
You can find apartments for sale in Istanbul in various neighborhoods. The city is a combination of rich history and culture. It links Europe and Asia. About 15 million people live in this city and it is the 20th city in the world to attract the most visitors. Investing in an apartment here is the best way to enjoy city life with friendly people, low living costs, and beautiful scenery.
Investors in real estate have various properties to choose from including:
- Apartments
- Sea views
- Luxury homes
- First view villas
These come at a reasonable price and offer investors a high return on their investment. With such incentives, the real estate market in the city is very appealing to foreign investors.
Buying an apartment in Antalya
Away from Istanbul, this is the second city in Turkey that receives the most visitors. Antalya is filled with beautiful beaches and resorts. The real estate market here is very appealing to investors from all over the world. This vibrant city is full of world-class hotels, endless dining options, immense hospitality, and an active nightlife.
Antalya is a great shopping destination with some of the best shopping centers in the country. Here, people indulge in shopping international and local brands in the weekly markets and shopping malls. The best beaches in Turkey namely Lara Beach and Konyalti Beach are in Antalya.
Buying an apartment in Bursa
Located in the northern part of the country, Bursa is a great real estate investment location for investors from the Middle East. This is because of the similarity in culture. Some of the local attractions here include:
- Ulu Mosque
- Uludag Mountain
- Green Mosque
Real estate here is affordable with the potential to make good money from holidaymakers for long and short-stay rentals. Bursa has properties constructed with the latest designs and technologies. This city has recent developments and all its infrastructures are well maintained. Some of the amenities that make life here easier and better include health care, education, and transport.
Bodrum
This city is another hotbed for real estate investment in Turkey. Properties here come with a modern transport system, local attractions, beautiful architecture, and sparkling nightlife. One of the most significant attractions for foreign investors in Bodrum is the ease of communication. Locals here speak mainly English to eliminate the problem of the language barrier that might exist in some locations.
Understanding foreign ownership of property in Turkey
The government of Turkey allows foreign investors to buy apartments without restrictions. Some of the top foreign investors in Turkish real estate are from Iran, the USA, the UK, Iraq, Russia, China, and Saudi Arabia. The government’s decision to grant Turkish citizenship to real estate investors who commit about $250,000 has attracted various foreign investors.
Another significant factor that has attracted foreign investment in the real estate sector is the immense development in various sectors including transport, health, and entertainment. This has made real estate prices go up making investing in the sector highly profitable.
Buying an apartment in Turkey is one of the best decisions to make for any smart real estate investor. This country has various beautiful locations backed by a rich culture and a wonderful natural environment. Istanbul is among the most lucrative locations where to buy an apartment with the potential to make a high return on your investment.
Author: Eernesto T Felder
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