Last updated on January 31st, 2024
Unlock the Beauty of Turkey: Invest in Real Estate Opportunities for Expats While Travelling
This article discusses the perks of investing in real estate for expats in Turkey whether or not they intend to stay permanently in the country.
Working in another country may be a necessity or a dream come true for expats, however, this does not change the fact that expatriates want a country that gives a quality way of life, affordable accommodation, good healthcare as well as a safe and friendly environment for themselves and in some cases; their families.
What Makes Turkey Attractive to Expats?
Turkey is an expat’s dream come true when it comes to a friendly climate, warm and accommodating people, picturesque landscape, mouth-watering cuisine, good healthcare and generally a favorable economy. If you’re considering working in Turkey then you need to look at property for sale in Turkey for expats to get the maximum experience out of the country.
What Is Living in Turkey as an Expat Like?
Turkey is a wonderful place to live and work, whether as a native or as an expat, the government encourages foreign investors so buying a property is an added advantage for an expat, especially for one seeking dual citizenship. Living in Turkey allows you to enjoy the following:
- Low Cost of Living: Aside from the economic opportunities that come with Turkey being a fast-growing commercial hub, the standard of living comes relatively cheap. This makes relocating with a family desirable since you will not have to pay through the nose for basic needs.
- Rich Cultural Heritage: If you’re someone that enjoys being close to history and beautiful cultural heritage, Turkey presents a rich blend of diverse cultures, due to the several civilizations it has witnessed. Its tourist attractions will have you feeling like you’re having an all-year-round vacation
- Modern Infrastructure: Despite its connection to its roots, people living in Turkey enjoy all the infrastructure that makes the modern world easy and enjoyable. The country has an effective transport system including two international airports that facilitates easy movement both within and out of the country, the roads are well developed and there are several buses and trains which connect the towns. Turkey also has a standard healthcare system that is under both the public and private sectors.
- Hospitality: Forming relationships is important for someone living in a foreign country, it is crucial to feel welcome, especially for an expat with a family. The Turkish are well-known for their warmth and hospitable nature, you need not worry about being in a hostile environment if you live in Turkey. There are lots of social events and outdoor gatherings which you could attend, make friends and feel a sense of belonging in the community.
What Can Expats Benefit from Real Estate Investment in Turkey?
1. Opportunity to earn through property purchased: Investing in real estate in Turkey helps you to tie down your monetary resources, you may not wish to live in Turkey but having a property in Turkey can help you to earn passively by renting out the property. If you purchase an apartment, for example, you can rent it out temporarily either to tourists or other people earning you passive income. You can also decide to resell the property after a while, real estate is known for its appreciating quality. After investing in real estate in Turkey, you do not have to live permanently in the country. Reselling the property can fetch you more than you purchased it, it may even be a retirement plan.
2. Citizenship through Investment: Another major opportunity available is a citizenship through investment program. This simply means that a foreigner in Turkey can apply for citizenship after investing a certain amount in the country. An individual may purchase government bonds, invest in tourism, start a business to create employment in the country or invest in real estate. The easiest to achieve is investing in real estate, once you have purchased a property or properties equal to or more than $400,000, you are eligible for citizenship through investment in Turkey. After being successfully granted a Turkish passport, the perks of being in the country increase. Being a citizen of Turkey has the following pros:
- Favorable tax conditions.
- Access to free emergency healthcare.
- Citizenship for immediate family; that is, spouse and children not up to 18 years of age.
- Visa-free access to countries that have a visa-free regime with Turkey. They also have access to visa-on-arrival programs that Turkey citizens enjoy in some countries.
- Obtaining a Schengen visa becomes easy due to the proximity of Turkey to Europe.
- As an expat, you may intend to work in other countries at some point. Holding a Turkish passport hands you the possibility of obtaining a USA or UK business immigration visa for up to two years with an option for renewal.
There’s a required period for the individual applying for citizenship to hold the property, after that you may or may not choose to retain ownership of the property. This means that you can return the investment after the holding period is over by selling it.
Is Real Estate in Turkey Cheap?
The real estate market in Turkey is relatively low-priced while its value keeps increasing. However, just like in any other country, there are cities or districts where real estate is costlier due to commercial advantages, proximity to certain places and so on. Other factors that may determine the price of a property include the number of rooms, the stage of construction or whether the property is new or not. Read more on the official website https://turk.estate/en/
Will It Be Worth It?
Absolutely yes, Turkey is a tourist’s dream and having your own home in the country would be like living in a dream. With a low cost of living, good infrastructure and healthcare and so much more, investing in Turkey real estate is an opportunity you do not want to miss.
Are you aiming to invest in short-term rentals in Turkey? Start looking for the best rental markets where you can generate a nice income stream with the aid of an advanced analytic tool like Airbtics Dashboard.
Short-Term Rental Data
Short-Term Rental Data
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