Is It a Good Time To Buy Property in Turkey?

January 27, 2023

Sometimes the buyers are interested in thinking or time should buy property in Turkey. We answer that every time is a good time to invest in real estate in Turkey. Real estate is an old and highly respected form of investment, simply because real estate offers lower risk than stocks and bonds. Real buildings protect against global storms over long periods. But when you look at Turkey, some factors make this market stand out from other countries. So, this article discusses previous property sales to foreigners, why foreign real estate investors love Turkey, where foreigners buy, and how you can make sure your property purchase is worth it.

Why Now Is A Good Time To Buy In Turkey?

Previous House Sales to Foreigners in Turkey

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When this report was published, foreigners bought 8630 houses last month. This is an increase of 80% per year, representing 5.7% of all stores in Turkey. Last year, foreigners bought 58,576 houses in Turkey. This is an annual increase of 43% and accounts for almost 4% of all home sales. So, as you can see, selling property in Turkey to foreigners is gaining popularity, but why do foreigners choose this country over other popular destinations like Spain, France, and Portugal? 

Reasons why foreigners buy in Turkey

  • Turkey started to improve its real estate market 20 years ago. As a result, prices are still low compared to other European countries. 
  • Improvements in the area’s retail market have taken place through new developments in housing. Buyers often choose new construction for old Turkish houses which incurs a lot of costs to upgrade and come up to the current building standards and standards. 
  • The devaluation of the Turkish lira encourages foreigners to move in as they get good value for money per square meter. This reduction also adds potential for financial appreciation. 
  • The tourism market is tough for potential buyers
  • The low purchase price, including notary and cadastre
  • Quick and easy purchase process with minimal paperwork
  • Turkey’s major investment in infrastructure and transport networks
  • Marine life along the Aegean and Mediterranean coasts
  • A large number of tourists live in Turkey all year round
  • The climate is best with hot summers and mild winters on the south and west coasts
  • Low cost of operation and maintenance and low cost
  • Learn from real estate investment strategies

Popular Places in Turkey Where Foreigners Buy

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Antalya City Centre:

This beautiful city on Turkey’s Mediterranean coast offers two of the best beaches in the country. Naturally, as a city center, everything and anything is at your doorstep, including the nearest airport, and year-round flight schedules. Downtown Antalya also offers the best nightlife, shopping, and dining options in Mediterranean Turkey, and nowhere else can match the style and quality of Antalya.

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Alanya in the south of Turkey:

In recent years, Alanya has promoted itself internationally, the result of which is a thriving tourism market, which has had a significant impact on retail. Once covered by nearby Antalya, Alanya’s future has potential. Buyers include vacation homeowners, property developers, and property investors looking for long-term capital appreciation. Alanya surprises buyers with its value for money and quality.

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Fethiye in Mediterranean Turkey:

Fethiye has gradually attracted locals and foreigners with its beautiful green mountain landscape. The scenic spots include Ndalakoy Ndalakoy, Saklikent Gorge, Gemiler Island, Kayakoy Ghost Village, Oludeniz Beach, and Blue Lagoon. As an important part of the Turkish Riviera, the vibes and atmosphere lend a lot of weight to every retiree’s dream of living in Turkey. Owners may struggle near Hisaronu, Ovacik, or Calis Beach, although downtown Fethiye offers attractive property prices. Uzumlu also attracts Villa owners, even though it is inland. 

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Istanbul – The King of Turkey: 

Istanbul, the beating heart of Turkey, attracts foreign investors from all countries. Many property buyers go for the construction of a large house in the quarter outside of Istanbul for prices that are not planned by the new Turkish company. These activities focus on entertainment and pleasure such as gyms, swimming pools, parks, and shops. Despite the position of Istanbul as the largest city in Turkey, many things can be done, and the improvement of the transport station and the third airport of Istanbul is attracting experts and buying investors.

Protect Your Property Investment in Turkey

  • Always Use a solicitor
  • Get contracts in Turkey notarised
  • Never hand over cash. Always leave a paper trail via bank transfer
  • Only Use a licensed estate agent
  • Check for habitation certificates (Iskan)
  • Choose your Power of Attorney carefully

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