Turkey is not losing its popularity among investors around the world. Buying an apartment or a house on the coast seems to have already become a trend in the world market.
According to the latest amendment issued by the Turkish government in 2022 regarding the Turkish citizenship law by purchasing a property, the minimum value of the property that grants the owner the right to obtain Turkish citizenship has been raised from $250.000 to $400.000 with condition that the property is kept and not sold for at least 3 years.
This law represents a golden opportunity for investors. As the saying goes, “hitting two birds with a stone” or achieving two advantages at the same time, the investor will benefit from the investment returns and profits from operating this property, in addition to enjoying all the advantages of a Turkish citizen and holding a Turkish passport.
The question is: Is $400.000 a big amount to buy an investment property in Turkey?
When you apply to buy a property in Turkey and receive various offers from the real estate consultant, you will notice that real estate prices have jumped a big leap and have risen significantly recently, especially if you are constantly on the lookout for Turkish real estate market, this rise in prices comes as a result of several factors, the most important of which are:
– Excessive demand for Turkish real estate.
– The high turnout by investors to obtain Turkish citizenship.
– High quality in construction and materials used in the apartments.
– Luxurious finishes that live up to the level of investors and meet their expectations.
– An increase in the prices of building materials because of the fluctuation in the price of the Turkish lira against the dollar.
– The mega projects and infrastructure projects undertaken by the Turkish government for the development and renaissance of the country, such as medical cities, transportation lines, Istanbul Canal, bridges, and tunnels, have also led to an increase in real estate prices.
– The continuous and remarkable growth of housing projects in Istanbul.
– Tourism in Turkey, where Turkey records annually the visit of millions of tourists from all over the world to various cities, which increases the activity and movement of the Turkish real estate market.
We conclude from the above that the amount of $ 400.000 is not considered a huge sum in the current Turkish real estate market, but rather it is the average for obtaining an apartment in a prime location in Istanbul within a full-service residential project, and it is also the minimum for obtaining an investment property promising huge profits shortly. Below are examples.
What real estate can you buy with $400.000?
– You can buy an investment apartment under construction, of type 1+1, in the luxurious Bomonti project in the central area of Sisli, with a view of the Bosphorus, close to Taksim Square, Nisantasi, public transportation, and the highway.
– You can also buy a larger apartment, of type 2+1, in Kagithane, which is an urban development area and the closest area to the center of Istanbul, and it is the ideal choice for investors looking for investment properties that promise future profits at prices lower than the prices of the center of Istanbul
– You can buy a ready apartment in Sisli, in the heart of Istanbul, of type 2+1, in a boutique project in the prestigious Bomonti district, close to business centers.
– You can buy a spacious apartment of up to 200 square meters, ready to move in, of type 2+1, in the Buyukcekmece area, with a sea view of the lake and the Marmara Sea, far from the center of Istanbul, but in a full-service area suitable for housing and holidays.
– Also, you can buy an apartment of type 2+1, in the Asian side of Istanbul in Kadikoy, within luxurious towers designed for your luxury in a central location.
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