Who is eligible for purchasing a property in Turkey?

Who is eligible for purchasing a property in Turkey?

Although before 2012 Turkey had many restrictions in regard to foreigners buying real estate here, however in May 2012 many of these restrictions were lifted, and the government made it easy for foreigners to invest here. But put in mind some restrictions are still in place when it comes to different countries. For example, some countries are not permitted from buying specific types of properties, while other countries are restricted from buying properties in specific regions in Turkey. Therefore, it is important to get a consultation from a reliable company that will successfully help you with your investment in Turkey.

Anyone who wants to buy property in Turkey does not need to meet any conditions. Almost any foreign citizen with sufficient savings can come to Turkey and buy a property here. In Turkey, only 5 citizens of specific countries are restricted from purchasing real estate. These include Syria, Armenia, North Korea, Nigeria, and Cuba. If you are not a citizen of these countries, you can turn your savings into a profitable investment in Turkey.

Considering that Turkey is a very successful country geographically and economically, it should be mentioned that the number of people making property investments in Turkey has reached notable levels. In this sense, the number of homes sold to foreigners in 2020 alone is around 41,000. Most of these sales are made up of Iranian, Iraqi, and Russian citizens.

Where Do Foreigners Buy Property?

Looking at the data of foreign citizens buying a property in Turkey, Istanbul was the most preferred in 2020. Istanbul, where 19,000 houses were sold, was followed by Antalya with 8,000 houses sold. After that came Ankara, and Bursa.

The main reason foreign citizens prefer Istanbul is that it is both a modern and cultural city. Rising projects in Istanbul, where the heart of the business world beats, open the door to new and profitable investments. For this reason, it is quite natural that Istanbul is at the top of the list.

Do I need a residence to buy Property in Turkey?

You do not need to have a residence permit to make a property investment in Turkey. When you buy a property, or properties worth $250,000, you are entitled to both a residence permit and Turkish citizenship. How about choosing Turkey immediately, where opportunities are at remarkable levels?

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